A highlight from 1527: Five Personal Finance Lessons I Learned From A 10 Km Road Race by Helene Massicotte on Saving Money


Running a half marathon really race with a friend yesterday. I expected to have a good time. Get a medal and celebrate afterwards. But what. I didn't expect were personal finance lessons along the way given it was my first time attending this event i got to the race. Nice and early. I didn't want to deal with the stress of finding parking and dealing with other logistical considerations. While under time pressure in an unfamiliar setting as a result i was relaxed and more contemplative than usual before and during the run and more observant. Three two one go. I was ready. I started the run listening to one of my favorite podcasts. But the words faded into the background as i started to focus on my cadence and on the other runners i had never observed other runners like this before. It was almost like watching a movie. Here's what i notice and why it matters number. One running is an individual endeavor just like personal finance. There were many types of runners short tall thin fat fast slow amateurs seasoned athletes locals and foreigners. Their reasons for competing were just as varied as they were and as long as it gets them across the finish line. Does it matter. The reasons are what drive us. Not the goal itself without a reason for doing something. The goal can seem meaningless. You want to save a million dollars. You want to be financially independent. You wanna retire early. Why figure out the reasons you desire what you desire it will increase your chances of sticking to it when times are tough and ultimately crossing the finish line to get to the life you want number two having all the bells and whistles does not ensure success desired does. He can't predict a person's running success by their running gear. I saw everything from a nike everything gym bunny to a runner and a ratty old t shirt and shorts and no shoes consumerism has taught us that we need to be prepared with all the latest and greatest gadgets to be able to properly participate in or accomplish and activity or goal. We often apply this personal finance. Have a personal. Finance strategy does not sound complicated or sexy enough. It must not be good enough. Just like expensive gear. We feel we need to rely on. Expensive actively managed funds commission based advisers and up to the minute stock information. So why is it that the person who just focuses on perfecting the activity itself excels in the end what produces results is regular attention habit and desire nothing fancy that the fancy people who wanna look the part. Don't finish ahead. because they're externally focused. They give their validation from others. The folks who just care about the pursuit itself or internally focused and they fuel themselves they want the result and they get it number three. Finding a steady pace brings with it comfort that you will finish at the start of the race. Many runners were in a rush to get ahead. They were pushing the pace in a way that it was obvious was not sustainable. After a few miles some folks were passing me then slowing down then passing me in a rush again then slowing down like a real game of cat-and-mouse. These folks were not listening to their bodies to determine the rhythm or cadence that they could maintain for the duration of the race. They were overshooting in losing steam. The same is true for personal finance. Some folks come out of the game in a rush trying to save at a rate. That is both unrealistic and unsustainable they have a level of focus and energy that soon dissipates and they feel defeated because the benchmark they've set for themselves is too high. Anything less by comparison feels like a failure. Other folks have unpredictable. Bouts of saving and spending that may or may not work overtime. The successful individual set a sustainable an automatic savings pace that leaves them relatively comfortable to enjoy the journey. They know they will get there and win. Number four grit matters more than natural ability. Some runners are very comfortable running and don't really train for an event they just show up and get it done commendable but not extraordinary others have no natural ability

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