The gap between liking and loving anything is HUGE. There are a million things I like, but could easily rid them from my life in an instance. However, the things I love are my foundation and my future and without them I can sometimes be a lost man. With that, let me say I love my money.
I have developed a scientific, fool-proof, engaging, lawfully correct financial theory:
Simple as it may seem, even I tend to deviate from the theory.
I think the first time I really loved my money was the first time my personal bank account went over $1,000 in high school. All of that money was earned and a sense of security was great. I loved knowing I had many more options and possibilities than those other teenagers around me. As to why I have ever not continued building that Oh-So-Good-Feeling by letting my cash build up decrease is just stupid. I could give a laundry list of excuses, but as most of you have known at some point in your financial life, that base of financial security is amazing and doing anything beside building on that is ridiculous.
Since that first time I earned the $1,000 in my bank account, I have had up’s and down’s financially that should have been more controlled by the ‘Like or Love’ theory. The theory is simple. Yet, I, to this day, will blow money on things I don’t love. For example, fast food. Sure I like it, but I really don’t love it. That is definitely something I should have been and can boot from the budget.
There are many things in life you may not think you love, but you actually do. Here is a list of things you wouldn’t normally think of loving, but you and I both actually love:
- Health Insurance – I love knowing that if and when I do something incredibly stupid that I will not be screwed by hospital bills.
- Mortgage/Rent – I love knowing I have a roof over my head.
- Utilities – I love being able to walk down a lit hallway to the kitchen and have a fresh and healthy glass of water.
There are many things you pay for that you may think you hate or dislike paying for, but deep down you actually love having. There are also limits to that. I don’t live in a 5,000 square foot house because I would hate having to heat and cool the place and pay for space I don’t even use. I love paying and maintaining a 1,000 square foot condo because it suits my needs.
My perspective on the ‘Like or Love’ Theory:
- 95% of my time and money should be going towards things I love. The other 5% can go towards the like.
- Staying on track is TOUGH. When I waver, I try to ask why I let that happen and usually I can correct my decision making
- If I am not loving life and that which I include in my life, than things must change quickly
To me, my money is to valuable to be wasted. If my life includes what I love, then I am able to live life to the max with little concern for the dollar signs societal conformity tries to persuade me with.
So what is your take on this theory? Do you like or LOVE your money? Obviously, that is an easy question to answer, but do you do the things to make this a reality in your life? Please comment to let me know your thoughts and feelings…
***I purposely did not talk about taxes because I am tired of arguing politics for the month (already). So PLEASE don’t comment on taxes or politics. Thanks for your consideration!!!***
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You made a fantastic distinction between like and love – and the 95-5 rule is extremely helpful.
Good, applicable article. Thumbs up from me.
P.S. Just made the last comment in the “politics” article, haha. I had to defend myself, at least. Important lesson to learn: discuss personal development at personal development sites. Discuss politics at political sites.
.-= bretthimself´s last blog ..Sensory Focus Challenge =-.
Dave, no doubt that spending money on the things you love is a smart way to go. I think I have been like you in the past in the way I’ve spent money and been a bit irresponsible with useless purchases.
.-= Srinivas Rao´s last blog ..6 Things I would do differently if I started my blog today =-.
Interesting idea: Like or Love. Maybe another way to look at it is Need versus Want?
We want everything but there are only a few things we really need. Food, clothing, shelter, health insurance and a top of the line MacBook Pro!
.-= John Bardos – JetSetCitizen´s last blog ..Interview with IttyBiz founder and Small Business Guru, Naomi Dunford =-.
Interesting look at how we spend money. During my younger days, I spent way too much money on ‘stuff’ that I didn’t like nor love… Only if I knew then what I know now.
.-= Ken Kurosawa´s last blog ..Don’t Become a Snack Monster =-.
Dave,
I really like this concept. Yes, in theory it seems simple, but I think that in practice it would be genius! It is one of those things that just make you stop and think. If we would all just take minute before spend (or do anything really) and think it out — do I really WANT to do this, to I really NEED to do this — I think we’d be much better off.
Cheers!
-Dena
.-= Dena´s last blog ..Pretend and Be: How to be What You Dream of Being =-.
We must be on the same wavelength.
I used to love money. Now I love the fun things I can do with money. It’s a subtle, but important, difference. I don’t care how much anymore. I care that it’s enough to do whatever I want.
.-= Karol Gajda´s last blog ..Needs vs. Wants or My Mom Thinks I’m Crazy or How To Be Congruent =-.