There Will Always Be Someone Who Believes the Opposite
If there is one thing I have learned since making my debt reduction journey a very public affair, it is that there will always be someone who believes the opposite of what you are doing is the right way to go. For example, for every person who thinks that you should save a small emergency fund and then reduce debt, there is a person who believes that all money should be thrown at debt and a credit card should be used in case of an emergency. And for everyone who believes that, there is another person who believes that a true 3-6 month emergency fund should be saved before any serious debt reduction is attempted at all. And this is just one example of all the varied choices one has to make when considering their financial future.
The truth is - there isn’t one specific right way for any of the financial choices we all have to make. There are ways that will over the long term cost you less financially if all goes according to plan. There are ways that are safer, and ways that are riskier. There are ways that are more immediately motivating and ways that take a personality that can delay gratification. In fact there are so many “right” ways to do things, it is a wonder that there’s even a wrong way.
But there is. There is a wrong way. And the wrong way is - to not attempt at all.
Personal finance is, at its heart, personal. We all look at risk and reward and security and discipline in different ways, and they fit in different manners in each of our lives. When someone’s choice is not the same as my own, I don’t consider that they’ve made a wrong choice. Just a different one. I share my choices, because that is what this blog is about. But I don’t expect everyone who reads to follow the examples I’ve illustrated just because I did them, or even to always agree with them. That’s what makes finance so personal. Hopefully some of what I write resonates with each reader, and different readers can take different pieces and incorporate those ideas into their own experiences and perspectives and come away with something of value.
Over the next few weeks, I’ll be exploring in more detail a few of my more “controversial” choices, for lack of a better word, and why for us, we chose to do them this way. Some will agree, some will disagree, and most likely, no one will absolutely agree with all of them. Hopefully they’ll provide more than a little food for thought.
This is my story. And it wouldn’t be the same story without all of your input as readers, commentators, and even for some of you, fellow bloggers. The best learning comes from each other and our own experiences and individual journeys. Don’t let the differences in approach between different people and families discourage you, but rather, motivate you to truly understand what makes your story uniquely yours. We can all learn from each other.
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December 7th, 2007 at 6:07 pm
Ooooh, controversy. I shall take the stand that one should, in fact, do nothing and be your arch nemesis.
Or I won’t because I’ll feel stupid doing it. But it’s an idea.
I look forward to reading these.
December 7th, 2007 at 6:20 pm
I agree. If there was a simple formula to follow we wouldn’t need books and blogs and professionals.
December 8th, 2007 at 12:07 am
Darn, I was going to disagree with your crazy post, but you beat me to it. Oh well…
December 8th, 2007 at 11:07 am
I agree. If we do nothing, we know nothing will happen. It’s like traveling to a destination. We’re all trying to get to the same place from where we are, but we’re taking different routes!
December 8th, 2007 at 11:12 am
Looking forward to your upcoming posts about the financial choices your family has made. Love your blog BTW. It’s the first place I visit every morning! Keep up the good work! I find your blog very inspirational:)
December 8th, 2007 at 12:07 pm
Hear, hear!
December 11th, 2007 at 8:38 am
Let’s just agree to disagree.
What you say is so true. A very good way to go bonkers is to ask advise from 7 or 8 people.
Ultimately we have to make the call on what will work for us.
I’ll look out for your story
May 20th, 2008 at 5:12 pm
I have a friend, student at Nouveau Riche University, who always likes to say: “Money can’t make me! I make money! They just come and go!” And I agree with him. I know it’s true that money can’t buy happiness, but it buys what can make you happy, but the peace of mind, like you said, is actually the most important!