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What are YOU Working For?

September 28, 2012 By Shane Ede 12 Comments

What are you really working for?

We all work, in some way, shape, or form.  Many of you, when asked the question, “what are you working for”, will likely give the easiest answer.  Money.  That’s what we all work for, right?  We need it to pay our bills, buy our food, and do many of the things that we choose to do.  But, one of the things that I’ve contemplated for some time, and that helped me make the decision to quit my job last year, was the furtherance of that question.  Sure, we all work for money.  But, is that all we work for?  And, if so, should it be?

The conclusion that I came too, as you can probably guess, is that money isn’t everything.  We do need some, but if that’s all we’re working for, it quickly becomes less of the tool that it should be, and, instead, becomes something that makes us feel trapped where we are.

Not All Work

Primal Money

One of the popular diets, recently, is the Primal Diet.  It’s a diet of foods that our primal ancestors (the hunter-gatherers) would have eaten.  Mostly meat, and readily available nuts and fruits.  The idea is that the human race has been around for thousands of years, but only been farming, and eating what we farm, for a fraction of that time.  Proponents think that we haven’t evolved sufficiently enough to properly handle the abundance of grains and other “farmed” foods in our diets.  (sidenote: the increase in Celiac disease over the last few decades might point to them being correct)  Because of that perceived evolutionary gap, they’ve taken up eating what our kind would have eaten before the rise of farming.  The movement made me think, though.  What of money?

For centuries, we’ve used money as a means of trade.  I give you a coin, you give me goods and services.  If I run out of coins, I have to find a way to make more.  I trade my surplus goods and services to someone, and they give me coins.  We repeat that cycle, and we have an economy.  Slowly, coins become the only way to attain goods and services, and we all depend on them.  And the more we depend on them, the more of them we need.  And the more we need, the more we have to sell our goods or services to get more.  Eventually, we end up where we are now.  We all work in order to gain more coins.  Our economies have evolved.  But, if that’s the case, what were they like in the Primal era?

Before we all became obsessed with coins, and money, our ancestors hunted for their food.  They didn’t need to buy it, they just went out and trapped or shot it.  Or they scavenged it off of the tree it grew on.  Or dug it out of the ground where it grew wild.  The work they did wasn’t for a new tv, or a new car, it was for survival.  If they didn’t do the work, they would starve.

If you don’t do the work, you get fired (if you work for someone), or you just don’t make any money.  And, yes, you still might starve.  Eventually.  But, food wasn’t the only thing that many of them worked for.  They worked to help their family survive.  They worked so that their children would grow up healthy and strong.  Their children were their legacy; what they would leave the world when they passed on.

Legacy.

Now, we’ve found the real purpose of work, I think.  That’s why I work, now.  It isn’t about the money, although money can have a place in legacy, but about what I leave the world when I leave the world.  The example that I set for my children, the good works I do, the changes I make in my world that make it better, and the life I lead, are my legacy.  Money is merely a tool, like the bow and arrow for our primal ancestors, to help me do those things.  And, here’s the funny part.  Looking at that list of things, it’s a tool that I don’t need that much of.  I set a better example for my children by being conscious of the things that I do, and by what I teach them.  Donating money to charity is a good work, but there are just as many good works to be done through volunteering your time and skills.  And, I can certainly make changes for the better in this world without money.  My legacy doesn’t need money.  I’ll use what money I have to give it a boost now and again, but it doesn’t need it.

I’m working for my legacy, not for a new tv or a new car, or even a new house.  The realization of that is what helped me make the decision to leave my job.  There will always be other jobs that I can get that will help me pay the bills and put food on the table, but I don’t need one to help me do my work.

What are YOU working for?

photo credit: The Marmot

Shane Ede

I started this blog to share what I know and what I was learning about personal finance. Along the way I’ve met and found many blogging friends. Please feel free to connect with me on the Beating Broke accounts: Twitter and Facebook.

You can also connect with me personally at Novelnaut, Thatedeguy, Shane Ede, and my personal Twitter.

www.beatingbroke.com

Filed Under: General Finance, ShareMe Tagged With: legacy, primal money, work

What’s Your Personal Finance Dedication Level?

September 11, 2012 By Shane Ede 9 Comments

100graphicwebreadyYou’ll hear me talk about it all the time.  Well, you won’t likely hear me at all, but read me write about it just doesn’t sound right. 😉  If you want to succeed at your personal finance goals and your personal life goals, you need to continually work towards them.  (Make some if you haven’t already)

And working towards your goals sometimes doesn’t get the required dedication that it deserves.  If you’ve set goals for your personal finance, but have never met one on time, you probably suffer from a low level of PF dedication.  If, however, you always meet your goals on time or early, you not only likely have a high level of PF dedication, you also need to set higher goals! 😉

In the course of my day to day life (and yours, I’d bet) I’m constantly tempted with things that I would like to have or places I would like to go.  And to get those things or go to those places costs money.  Money that might not be in the budget.  The temptation can sometimes be strong to put aside a budget item for this month so that you can have that “want” now.  Time for a self check.

It’s at times like that, that I try to remind myself of the goals that I have set.  That $50 gadget could be a $50 payment towards the next debt item in the debt snowball/avalanche/snowflake.  It could go towards retirement, or towards college savings, or towards down payment savings, or…  You get the idea.  Often, that little reminder is enough to keep me on track.

But it’s only because I’ve decided to have a very high level of dedication to my personal finance goals that it works.  If I had a much lower PF dedication level, it might not be so easy to turn down that gadget.  And I’d be that many more months behind schedule on paying off my debt.

What is your PF dedication level?  Do an inventory of the goals that you have set and decide now how much dedication you want to have towards those goals.  I’ll let you in on a little secret.  If you set a goal, you want it to be a 100% dedication item.  Maybe you don’t realize that, but (consciously, or sub-consciously) you created that goal with the intention of giving it 100% dedication.  And if you aren’t giving it the dedication that you intended for it, you’re letting yourself down.  And maybe it’s time to rethink your goals and set new ones.

Whatever the case may be, your dedication level to your goals is the deciding factor in meeting those goals.

image credit: Duchessa

Shane Ede

I started this blog to share what I know and what I was learning about personal finance. Along the way I’ve met and found many blogging friends. Please feel free to connect with me on the Beating Broke accounts: Twitter and Facebook.

You can also connect with me personally at Novelnaut, Thatedeguy, Shane Ede, and my personal Twitter.

www.beatingbroke.com

Filed Under: budget, Financial Truths, General Finance, ShareMe Tagged With: budget, goals, Personal Finance, pf dedication

Are You a Financial Olympian?

August 8, 2012 By Shane Ede 9 Comments

What is a Financial Olympian?  It might first help if we briefly look at what it means to be an Olympian in the more popular sense.  Unless you’ve been under a rock these last few weeks, you can’t help but have heard about the Olympic games going on in London right now.  Athletes from all over the world have converged on London to compete against one another in their sport.  Getting so far as the Olympic games requires a few things.  You’ve got to have some talent, sure, but all the talent in the world won’t get you there by itself.  You’ve got to have dedication, perseverance, and a no-quit attitude.

Financial Olympic Events
img credit: Accounting by 401(k) 2012 on Flickr

Being an Financial Olympian isn’t much different.  Once again, talent only plays a very small part.  You don’t need to know numbers inside and out, but merely how to add, subtract, and maybe multiply and divide.  O.K., that might be an oversimplification, but you really can get away with just those skills, so long as you add in the others to top it off.

Financial Dedication

Like an Olympic athlete, a Financial Olympian must be dedicated to the performing at their peak ability.  Neither takes a day off.  Neither takes it easy.  Each pushes themselves to be the best at their event as they possibly can be.  It’s their dedication that gets them up in the morning to train, and it’s the Financial Olympian’s dedication that gets them to the table to do their budget, pay their bills, and to manage their money as best as they can.

Financial Perseverance

When an Olympic athlete fails, do you know what they do?  They redouble their efforts, get up a bit earlier the next day, and train harder and longer than they have before.  They are driven to continually improve their performance so that they don’t fail again.  When a Financial Olympian fails, they do the same.  They work harder at maintaining their finances.  They get up a bit earlier, find new ways to increase their income through second jobs, better jobs, better positions, and even passive income sources, and they work hard to improve their knowledge of personal finance.

Financial No-Quit Attitude

If you want to be an Olympian, whether it be in the 100m Freestyle or in the realm of number-crunching personal finance, quitting is never an option.  Any Olympian will fail.  Just in the last week, I’ve seen Michael Phelps, the Olympian with the most medals in the history of the Olympics, lose several times.  Does he quit and leave the next race to the other Olympians?  Not a chance.  He has a no-quit attitude.  A Financial Olympian does too! If you break your budget or save less then you intended, you don’t throw your hands up and go on a spending spree.  No, you figure out why you failed, you pull out a little of that dedication, add a bit of perseverance, and move on to the next month’s budget!

Are you a Financial Olympian?  Do you have the dedication, perseverance, and no-quit attitude to make your personal finances the best they can be?

Shane Ede

I started this blog to share what I know and what I was learning about personal finance. Along the way I’ve met and found many blogging friends. Please feel free to connect with me on the Beating Broke accounts: Twitter and Facebook.

You can also connect with me personally at Novelnaut, Thatedeguy, Shane Ede, and my personal Twitter.

www.beatingbroke.com

Filed Under: budget, General Finance, Saving, ShareMe Tagged With: financial dedication, financial olympian, financial perseverance, olympian, Personal Finance, personal finance olympian

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