What Do You Really Value?
Video Transcript:
Who would have ever thought a 1984 Ford Escort would have really illustrated what money is and how people value money? So, my grandpa he was a blue collar worker from the phone company and growing up there was a period of time where he was still working and he had not yet retired. And he drove around in 1984 Ford Escort. It was is brown, two door coupe. And he called it his "Money Maker." I have distinct memories of him driving this car and back from work and you could hear him two or three blocks down the road. And you could hear music blaring out of his speakers. Usually it was classical music, coming through the speakers. And usually when you first heard that you got yourself out of trouble whatever you were in and prepare for grandpa to come home. He was proud that the car with his "Money Maker". And the reason why he called his "Money Maker" was because he did not owe anything on it. He paid it off or paid cash for it and he was not indebted to paying a car payment every month. And he really milked out that car. It was a stick had roll down windows. And at one point he had gone to the dump a replace the front seat with a front seat with a with a used car seat from another car inside of his car so that to replace the worn out seat from what was originally with the car. He really just drove his car into the ground. And that just put off him ever having a car payment or to put a significant amount of money into asset that doesn't appreciate at all.
But you know what, he called it his "Money Maker" but I think reflecting on it, you know, that was just one part of his own financial puzzle. He really valued RVing and traveling with his family. And so he would put some of his extra money and extra cash flow into, he had truck camper at one point, he had a RV, two RVs at one point in his life. And those are not necessarily wise investments either. They can be very expensive. But that is what he valued.
And that's why it's important to sit down and look at your budget and create a budget, or money management program so that you can live your ideal pursuit that is aligned to your values and to use your money that is aligned to who you are and where you want to be and go. All too often I see a lot of financial pundits out there there and boo-hooing people are paying $7.00 for a latte. And you know what if you are paying $7.00 to have a latte with your good friend every Wednesday morning there is nothing wrong with that.
A budget help you to begin to understand and put your money where you value living your life. It also helps you begin to navigate and negotiate the trade-off between spending and living ideal life today and saving for that ideal life in the future. This is is why core to our offerings at Pursuit Planning and Investments, we have a money management program and a financial planning program where money management core to that. And if you are not setting down looking at who you are, what you want spend money on, what you want to save your money, it's easy to get off track. And it's easy to feel talked down by certain financial pundits out there.
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