Thursday, May 27, 2010
Over the last few years I certainly can say I have been no saint when it comes to making financial decisions, shocking right? Even being in the Dave Ramsey Financial Peace program you would almost say its safe to say you will never make a financial mistake again? This is VERY untrue. Learning about money does exactly what it was designed to do which is teach. Unfortunately they didn't put "wisdom not included" on the packaging. I believe over the last 2 years I have paid about 10,000 worth of stupid tax between, buying stuff I couldn't afford even though I had cash, and then flat out spending money on things I knew wasn't going to later bring me a return.
Now days I try to limit my stupid but hey as a growing adult you just can't help it sometimes. That is why when a good friend of shared with me that she had purchased a new fleece I didn't faint! Did I want to faint? Oh yes but hey I have been there so what could I really say about it at the end of the day. If anything was to happen regarding her new car it was to teach ME a lesson about patience. You see just shy of a month ago my friend turned in her old leased car and based on some wisdom I had given her she had decided she wasn't going to fleece again and would be fine with a beater car. She was getting around fine and later her father shared with her that he would GIVE her his old car as soon as he brought a new one. Now we all know parents can be procrastinators at times but I would hope had a free car been involved I would have waited as long as it wasn't super inconvenient for me to do so. Well my friend got tired of waiting..... She says her new honda has payments OVER $300 and that does not include insurance. I am just gonna come out n say that was STUPID! It kinda hurt that she didn't stick to my advice but really its her money not mine and it hurts HER in the long run not me.
However through her example I was able to take away some lessons:
1. Patience will make you wealthy - Buying things you can't afford will surly give you instant gratification now but later you will reap the consequences of that choice. Am I money hungry ? No? but I am working on leaving wealth to my children not debt, and surly when you don't master patience you are risking your future.
2. Patience keeps you in a humble place - I have asked God for a few things, one of them being a husband. I have realized that God has been breaking me down to a place to where when that man comes into my life there will be no room for bragging (even though I believe there will be much to brag about) but it will be a time to just thank God and give him glory because it will be nothing short of a miracle (ummm hmmm i said it)
3. Patience brings free stuff - Recently my mom just got me a couch that she got for free. It isn't new but its definitely more than I had before and it didn't cost me anything. As Im typing this I also see that these things are only temporary and when I do have the financial means to have more I will, but until then I enjoy the little things that God blesses me with and take care of that which he has provided me with.
I am so thankful for the lessons I can learn through others, and lessons others can learn from me. I am happy I am 27 and that life gives me a chance to recover from stupid and also grow.
So have you ever done something extremely stupid with money SINCE you came into the knowledge of weath building? Are there any regrets from past stupid money mistakes?