This experiment began several years ago when I received a brochure in the mail advertising silver bullion coins as an investment vehicle. The “hook” was, “We will sell you two silver eagles for the price of one, if you agree to read our special report on silver.” When I saw this, I thought, “I could give one of these coins to a friend who was having money problems as a touch point for her prayers.” I sent her a coin and a notebook with instructions. Every day we prayed that the Lord would grant her wisdom in the area of finance. Every day she made an entry in her notebook.
The initial experiment was extremely successful. At the end of six months, her attitude towards money was radically different. She began to systematically eliminate her consumer debt. She changed some behaviors that were sabotaging her financial situation. Then towards the end of the six month experiment, she was able to move into her own home for the first time in her life.
Finally, when the participants are ready, they will give their coin with a blank notebook to a friend or a family member who is ready to change their relationship with money. In this way, friendship and blessings will keep flowing forward forever, even into eternity.
This post started life as an article about “back channel” hiring based on existing relationships or personal knowledge rather than resumes and web generated applications. One of the examples given was the recent hiring of the head football coach at the University of Wisconsin. This opening (no lie) was advertised on the university website. The article notes, “The eventual hire, former Utah State University head coach, Gary Andersen was recruited by the school's athletic director.” I wonder if Gary Anderson even knows his job was advertised on a website. I wonder if anyone was fool enough to apply for that job on the university website. Anybody with a grain of common sense knows that when it comes to finding a job, particularly in a bad economy, who you know or who knows you is more important than any other single factor. In this particular case the athletic director of the University of Wisconsin was well aware of Gary Andersen’s record at Utah State. I also would not be surprised to learn that they might have even met one another at some banquet or a National Collegiate Athletic Association meeting.
So start networking! But you already know this is true. If you want to find a new job why aren’t you using and expanding your network?
Do you want to get out of a really serious debt problem? You know that cutting up your credit cards is the first step to freedom. Then it is necessary to start paying your balances down. But you already know this is true. Why haven’t you chopped up your credit cards?
Do you want to retire with dignity? If you are a reader of this blog you know the basic calculation. If you don’t know here is the link.
The bottom line is you need to save more money. But you already know this is true. Why haven’t you bumped your 401-K withholdings from 6% to something higher?
At least part of the problem can be solved by changing your habits and finding a new group of friends and associates. If you want learn more about managing money don’t talk to your friends who don’t know any more than you know. They will tell you there is no hope for the average American. They will drag you down. Find people who know more than you know. Ask questions. Take one of the common sense courses offered by people like Dave Ramsey or Suze Orman. Read the investment classics written by people like Benjamin Graham. The Oracle of Omaha, Warren Buffet considers it is the only book you need to become a great investor.
I would challenge you to put your eyes on the prize, whatever that might be for you. Just for today do one thing, just one thing, that you already know will bring you a step closer to that prize. If you don’t know what to do, ask. Ask God. Ask somebody who knows more than you know. For heaven’s sakes, at least ask GOOGLE. I asked GOOGLE, “How do I get rich?” The question produced 435,000,000 results. Here is one of them from wikihow. Really, it is a pretty good starting point. I only just now found this link with that totally random search query. But I will bet you already know the stuff in this list is true. So why aren’t you doing it, already?