money myths

Get Rich Slowly is one of my two favorite finance blogs. It has innovative ideas as well as a balanced perspective toward money, and I have found far more relevant tips here than elsewhere.

Every now and then, as you’ve probably noticed, I find a post that I like so much that I can’t help sharing it. Today, that includes this one: http://www.getrichslowly.org/blog/2010/04/27/money-myths-and-the-importance-of-thinking-for-yourself/

I particularly appreciate the section on money myths. I think there are several included which are worthy of separate blog posts all of their own, but I doubt I’ll actually get to doing that, so let me just point out my favorites:

  • It’s not wrong to be rich.
  • The love of money is the root of all kinds of evil.
  • It’s important to budget on what you actually earn, not on what you hope to earn.
  • Just because you can’t take it with you when you die doesn’t mean that you shouldn’t save money responsibly while you’re alive.
  • A person’s standard of living is not based on how much they spend and consume.
  • Buying a home isn’t always better than renting one. (Especially if you are like us and move at least once a year. It simply wouldn’t be worth it at this point in our lives.)
  • Having to pay for something yourself doesn’t have to mean it’s worth more to you.

I think that each of these points are things that Keith and I have learned to some extent during our marriage. The last one is one that I’m not sure I’ve heard anyone else say before, but I have certainly seen the truth of it in at least one area of our life together: our car! We just hit 200,000 miles on the 1997 Camry that Keith’s parents gifted to him more than six years and 110,000 miles ago. The blessing of a continually reliable vehicle and not having to make car payments has been something for which we have truly been thankful.

I’ve just now begun to chew this over, but I think that when people have helped me financially – whether with college scholarships or with gas money – I have appreciated it and remembered it long after I have remembered the so-called satisfaction of earning my own way the rest of the time. I’m not suggesting that it would be a good idea to always receive without having to work for it, but I do disagree with the idea that helping someone will cause them not to appreciate it – whatever the “it” might be – as much. If done right, I think generous assistance can not only be a blessing that cultivates a heart of thankfulness, but also a catalyst for the one who has received to continue giving to others.

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Published in: on April 29, 2010 at 3:55 pm  Comments (2)  

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2 CommentsLeave a comment

  1. you are so cool! i am so glad you are updating! its fun hearing what you are learning and thanks for sharing all that money wisdom!

  2. I know you have two babies, but UPDATE!! hahahha i keep checking this!!!! miss ya james!


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