Our society often operates with perplexing contradictions, and nowhere is this more evident than in our relationship with money. However, first I want to share a story that paints another picture of our society’s puzzling disconnect.
Consider my sister’s experience volunteering on a Massachusetts farm: the farmer, passionate about growing healthy produce, refused to use pesticides. Yet, she couldn’t label her farm “organic” because the bureaucratic hoops and expenses would have crippled her small business. It’s a stark reality: a farmer who wants to grow food cleanly faces immense hurdles, while those who might compromise our food quality with pesticides can do so with relative ease. How did this get so backwards?
This jarring disconnect mirrors the brokenness of our money culture. We’re told that “normal is to up to your eyeballs in debt.” It’s become so normal that car dealerships don’t even list the actual price of a car, only the monthly payment.
To be financial free is uncommon or odd. Especially the younger you are. I know this is true because I talk to people everyday. When I tell them what I do, they shake their head and say, “oh man, I need you.”
In the wealthiest nation on Earth, millions live paycheck-to-paycheck, constantly bombarded with messages to upgrade to the newest iPhone, drive the latest car, and emulate Instagram stars flashing borrowed wealth. This isn’t success; it’s a trap.
The numbers paint a sobering picture:
- 37% of Americans can’t handle a $400 emergency without relying on credit cards.
- $1.77 trillion in student loan debt.
- $1.2 trillion in credit card debt.
- $1.53 trillion in auto loan debt.
This financial burden often shackles us to lives of quiet desperation, to soul-crushing jobs we endure simply to pay the bills. It’s the “big hat, no cattle” phenomenon – appearing successful while true financial stability is nowhere in sight. And the sad truth is, a significant percentage of those driving expensive cars are doing so with borrowed money, with many facing repossession.
I love to travel, and observing how other cultures prioritize different things – often valuing experiences and community over material possessions – is both fascinating and, frankly, a relief. It highlights how skewed our own societal norms have become.
My clients often echo these sentiments:
- “I make good money, but there’s nothing left at the end of the month.”
- “I feel guilty spending because I’m afraid I won’t have enough next month.”
- “I just wish someone would tell me what to do with my money.”
- “The more I make, the more I spend.”
But what if we, as a society, redefined what true wealth looks like?
The good news is that this change doesn’t need to start with society; it can start with you, today.
One of the many reasons I’m so passionate about financial literacy is that once you understand money, you can’t unlearn it. Like learning to read, it’s a skill that sticks with you, capable of profoundly impacting your life for years to come.
You have the power to decide to live differently. You can literally choose a new path, and with the right principles, you can get there.
To begin, consider these timeless money principles taught in “The Richest Man in Babylon”:
- Pay Yourself First: Commit to saving at least 10% of your earnings before any other spending.
- Control Expenses: Consciously spend less than you earn and avoid unnecessary debt.
- Invest Wisely: Put your money to work through investments aligned with your risk tolerance and long-term goals.
- Protect Your Wealth: Safeguard your finances by diversifying investments and utilizing tools like insurance.
- Home Ownership: Make your dwelling a profitable asset.
- Ensure a Future Income: Proactively plan for retirement and build stable income streams.
- Continuous Improvement: Invest in yourself, acquire new skills, and increase your earning potential.
The fruits of your hard work and intentional financial choices will look different for everyone. Maybe it’s the ability to:
- Afford for one parent to stay home with the kids.
- Own a debt-free home.
- Fully fund college accounts for your children.
- Give generously to causes you care about.
- Enjoy luxury vacations without guilt.
- Achieve Financial Independence and Retire Early (FIRE).
- Finally launch that business you’ve always dreamed of.
Your path is unique, but the power to claim it begins with these principles and a commitment to redefine your own meaning of wealth.
I curious though – what other societal contradictions have you observed?
