This post is 738 words, a 4-minute read. Enjoy!
A key aspect of managing my finances is one question:
IS THIS FUN?
I used to hate doing laundry, mowing the lawn, vacuuming the house, sweeping the floor, and washing the dishes (actually, I still hate doing this one). What I'm trying to say is I hated doing chores. It took me away from doing more enjoyable things like playing video games.
That was until I found a way to enjoy myself doing all these activities.
Rather than focusing on only doing the activities themselves. I discovered I could mix them with other things that I enjoy doing. A few examples:
I LOVE MOWING my lawn. Well, let me be a little less hyperbolic. I enjoy the time spent mowing my lawn. It is not about cutting the grass. Although, I take pride in my lawn looking well-manicured (yes, I am that guy).
The time I spend cutting my grass is now about listening to podcasts, learning, and listening to full albums from artists I love. Plus, I get a good sweat in. In other words, I found a way to make it FUN!
Similarly with doing the laundry. Growing up that was one of my chores in the house. To say I hated doing it would be too kind. I DETESTED DOING LAUNDRY. It was the bane of my existence. Having to wake up on a Saturday morning and get everyone's clothes together then separate white from colors, hot from cold, delicate from regular. Then put them in the washer and then the dryer. Then fold them and put them in the appropriate person's room. I hated it!
But then I discovered Premier League games were at 5:30 am on NBC Sports. That completely changed my perspective on doing everyone's laundry. I went from being dragged out of bed by my mom to being excited to wake up to "do laundry". Then shortly afterwards, I got into college football. So I would go from watching the Premier League to watching football games on Saturday while doing laundry.
All of a sudden doing laundry was FUN! I so enjoyed doing it that I added the extra task of ironing everyone's clothes.
Why? Because I found a way to make it FUN!
There is a common saying in personal finance,
"Live on Less Than You Make. Invest and Save The Rest."
I am coming to believe that this is an incomplete statement. It should be
"Learn to ENJOY Living on Less Than You Make, Investing and Saving the Rest."
Yeah, it is not nearly as sexy or simple as the first but it brings a fuller understanding of what it takes to change your financial situation for the long term. Here are a few examples of what that might look like.
I am somewhat of a nerd.
Okay, that is a lie.
I am a full nerd. I love playing with numbers. Finding fun managing my finances was initially using Mint, now it’s using Monarch Money (use that link to get a discount and a free month), to categorize the various parts of my spending.
I love taking the time to put each expense in the appropriate category. I find it relaxing and soothing. The by-product is that I now have a hawks-eye view of my spending. I know exactly when things are out of place and when I am getting carried away.
Other general examples:
There are those who have discovered a love of finding a good deal on products
Those who have discovered they enjoy the "inconvenience" of cooking.
Those who have discovered a love of road trips over flights to “fancy” vacation spots.
Those who have discovered a love for hiking rather than going shopping.
Those who have discovered a more enjoyable life free of alcohol.
Those who have discovered a love of the library.
Those who have discovered a love of thrift shopping.
Those who have discovered an ability and love of restoring old things.
Those who have discovered a love of investing.
Those who have discovered they love the feeling of having fewer things in their life.
None of those things are necessarily about getting to "save money". Rather it is a discovery of who you are and what you enjoy. It is a discovery of doing things that you may have once found inconvenient, but you realize you love the inconvenience of it. Those discoveries are the things that enable you to continue the path of being great with money. Because you fill your life with things that continually bring you joy.
So I ask this question, Do you enjoy Living on Less than You Make?
Or Are You Just Gritting Your Teeth in hopes of getting to the other side or a tight period? So you can return to a limited lifestyle that never gives you neither the relief nor the joy you desire?
Thanks for Reading
God Bless you
Remember Generosity>greed
✌🏾
Recommendation Section
This post was inspired in part by a blog post I read from Nick Maggiulli called The Sustainable Path is the Only Path. It is a great read on that reminded me of the power of compounding.
There are hidden costs in almost everything we choose to purchase. Doug and Heather Boneparth have a series covering many of them. I have loved learning and reading about them:
A new podcast I am loving is called 50Fires. It is by Carl Richards, a recovering Financial Planner and Advisor, who although could help other people with their finances. Had a difficult time talking about money with his wife and children. It has quickly become one of my most anticipated podcasts to listen to every week.
Morgan Housel in Quiet Compounding talks about how good things tend to happen slowly and are easily missed. He breaks down the 4 ways that are either ignored or implemented in life.