What Everyone Forgets About Money
What everyone forgets about money by Crowning Chris. RINING DOT COM. Washing dishes was how I earned my first paycheck when you're fifteen years old and don't get money from your parents to buy things then you have to work. So there. I was scrubbing dishes in the filthy kitchen of a small family owned Italian restaurant, and it's where I learned a little life lesson work is nothing more than trading time for money a medium of exchange. You provide one hour of time to an employer and they provide an hour's wage. I quickly discovered teenagers time isn't worth all that much a measly four, twenty, five per hour. Not long after starting that job I wanted this blind melon album. You might remember their catchy song no rain. One Saturday afternoon wandering the aisles in K. Marts, electronics, department I saw it for sale. Cool. I'm getting it. The price was sixteen, Ninety, eight for whatever reason I did the mental math to figure out the album didn't really cost me seventeen dollars. No, it costs four hours on your feet washing never ending streams of bus tubs overflowing with half finished plates of meat balls is this CD worth four hours of my time. In this case it was but more importantly, you realize the money tucked in your wallet isn't money at all. It's time disguised as money. In fact, it was Benjamin Franklin who said time is money but in our hectic day to day lives, it's easy to forget this. When you spend your money, what you're really doing is spending your time, which means if you waste your money, you waste your time. anyways throw my teens I worked a series of jobs, bagging groceries, stocking merchandise theater concessions, and mostly saved my earnings my time to precious and then I went off to college started a career and forgot what I learned. have. You heard that saying from Texas big hat no cattle meaning you can look rich but be poor. It's hard to believe people who make lots of money are poor. But then your tax preparer tells you they see plenty of families making three hundred thousand dollars and living paycheck to paycheck Thomas Stanley profiles. These folks in the millionaire next door, the doctor lawyer types who drive fancy cars living exclusive neighborhoods and take exotic vacations they look rich, but it's an illusion. It's the families who make one hundred, thousand dollars spent forty thousand and have a million dollars in the bank who are rich. Isn't the worst irony that the simplest way to get rich and have lots of money to spend his by not spending lots of money. But just because it's simple to get rich doesn't mean it's easy spend less than you earn and invest the difference that simple would makes getting rich so difficult is that spending less than you earn takes discipline the median retirement account is worth twenty, five, thousand dollars, and so the problem isn't paying people more money they'll save more give people more money to spend and they'll spend more money. I know this because back in my twenties, I spent just like the next person you think acquiring loss of material possessions satisfying all your superficial desires is the key to happiness. It took me years to relearn what I knew as a teenager. The things you buy with money that you surround yourself with aren't things at all it's your time. And research shows it's having control over your time that makes you happiest not money and things. So, most people have a choice. You can trade time for money and money for things, or you can trade time for money and then use that money as a tool to buy back time. That's why you save and invest, which reminds me of what stoic philosopher Seneca said quote. It's not that we have a short time to live but that we waste much of it life is long enough and it's been given to us in generous measure for accomplishing the greatest things if the whole of it is well invested. But when life is squandered through soft and careless living, and when it spent on no worthwhile pursuit death finally presses and we realized that the life which we didn't notice passing has passed away and quote. What he's saying is when you're about to die, you realize life is time and doesn't that make time your most precious resource. Here think about it like this see, you've worked forty hours per week for the past ten years. You've traded twenty thousand hours of your time. That's forty hours times, fifty weeks, times, ten years, and on the other side of the trade is everything you've consumed sure necessities like food clothing, shelter and healthcare but probably a bunch of other stuff you've totally forgotten about buried in the back of some closet. Was it a fair trade? Maybe it was maybe it wasn't but people are always telling me they've earned million dollars over the past ten years and have nothing to show for it and it makes them sick. They're not complaining about wasting their money. What they're complaining about is wasting their time. Trade wisely.