If It Bleeds, It Leads

I received a text from a buddy yesterday. I haven't interacted with him much over the past six months, so he kinda caught me off guard:

"Any thoughts on why the stock market is struggling so much right now? Do you think it will continue to be bad?"

I stared at my screen for at least two minutes, trying to think of an adequate response. What in the world is he talking about?!?! My response:

"As of the closing bell last a few hours ago, the stock market is at the 12th highest price it's ever been in 155 years. What makes you think things are going so bad?"

"I've been seeing things about it on Twitter, TikTok and also the news. Everyone says it's bad and will keep being bad."

There's an old saying that's as relevant today as it was when originally coined: "If it bleeds, it leads." Fear sells. Fear triggers emotion. Emotion triggers reaction. Reaction triggers engagement. Engagement triggers revenue. Revenue triggers $. Translation: Fear = $.

We live in a fear-based society, and nowhere is this more true than in the reporting of financial markets. After all, it's really easy to report how bad things are when the market has a bad day. It's fun for the media to blast big red numbers on the screen, alongside a curated short-term graph that shows a jagged line moving in a down-and-to-the-right trajectory. Fear!

Truth is, the stock market returned 17.7% in 2025 and is up approximately 1% in this young year. The 12 best day-end stock market prices in history have all occurred in the last 31 days. Here, let me show a picture:

This is what the U.S. stock market has looked like over the past five years, yet at the same time, a huge portion of our society thinks we're in the middle of a crash. It’s literally lingering at the peak of the best price in human history, yet many people think we’re in the toilet. If it bleeds, it leads. Fear = $.

My biggest encouragement is to simply ignore the noise. We're not going to stop the media or people around us from using fear to manipulate our emotions. Therefore, we must insulate ourselves from the madness. I find it best to simply ignore it. Period. Live a meaningful life, make an impact on others, give generously, and enjoy some good food.

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3 Men, 3 Mindsets

Today's post is inspired by a recent piece written by my great friend, Gary Hoag. If you're a longtime reader of this blog, you probably know that Gary is the inspiration and encouragement behind this blog. If you didn't know that, now you do! In either case, you should totally subscribe to Gary's daily writings.

An excerpt from Gary's recent article:

"A story is told of a visitor to London during the time of the construction of St. Paul's Cathedral, the architect of which was Sir Christopher Wren. The visitor stopped at the construction site and asked some of the workmen what they were doing. One said, 'I am working to get money to keep my family.' Another said, 'I am working here because it is the kind of work I have been trained to do.' A third man said, 'I am helping Sir Christopher Wren build a great cathedral.'"

Three different men, three different mindsets. All things being equal, I think we can assume that all three of these men were doing similar work and earning similar wages. However, they might as well have been living on different planets. Each of these men woke up in the morning, got dressed, commuted to work, and started their workday. All three of their daily routines might have also looked similar to one another.

What happened when they got to the worksite, though, is where everything changed. Sure, they were performing the same work, but the mindset behind said work changes everything.

• One man was there because work is a necessary evil.

• One man was there to put his training and skills into practice.

• One man was there to make an impact.

Three men, three mindsets.

All work matters. Your work matters! Regardless of what you're doing today, your work matters. You might make the same dollar amount regardless of your mindset (I would argue even that's up for debate), but there's no doubt which mindset will drain our tank and which mindset will satiate something deep within us. Same paycheck, drastically different experience.

We can talk all we want about our work not having to have meaning, but considering we spend half our waking hours at work, feeling meaning in our work makes a world of difference in our journey. It has the power to turn terrible into okay, okay into good, and good into great. It puts an extra pep in our step, makes the tough moments worthwhile, and juices up the wins. Regardless of what work I'm performing, I want to be more like the third man. "I am helping Sir Christopher Wren build a great cathedral."

Meaning is a choice. Apathy is a choice. Impact is a choice. Misery is a choice. Choose wisely.

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A Nasty Coke Habit

One of my friends recently threw an interesting question at me. He has a Coke habit. No, not kind of coke…..he has the Coca-Cola variety of habit. Every single workday, he buys a bottle of Coke from the vending machine when he gets to work. $2.50/bottle. This habit drives his wife nuts. First, why does he need a bottle of Coke every day?!?! Second, if he's going to buy a bottle of Coke, why does he need to buy it from a vending machine?!?!

I'm going to set aside any health-related considerations and focus solely on the economic/behavioral factors. Why does he need a Coke each day? Well, why do I drink a cup of black coffee every day? Why does my buddy Evan eat a little cup of yogurt (with chocolate chips) each day? Why does my son Finn eat popcorn every day after school? Because some habits help us create an enjoyable rhythm to life. A familiarity. A comfort. None of these things are needs; they are wants. For me, there's nothing more enjoyable than savoring a steaming mug of black coffee shortly after I wake up. It's a staple habit of my day. Regardless of the cost, this small, repeatable habit adds significant value to my life. My friend's bottle of Coke falls into that same camp. It gives him something to look forward to. 

But what about the vending machine? Why wouldn't he just buy a case of bottles at Costco, then bring one to work each day? After all, that would make a lot more economic sense. He couldn't justify himself (to the ire of his wife), but I immediately spotted it. The ritual of buying his drink means way more than he realizes. The walk to the machine, the conversation he has with his friend while at the machine, the sound of clicking quarters, watching the bottle tumble down to the chute, and extracting the ice-cold bottle from the little door. Further, this little ritual isn't simply a ritual; it's a trigger. The moment he practices his ritual is a proverbial switch flipping in him. That's the moment he shifts from his personal self to his professional self. It's game time! He's ready to tackle the day.

Without realizing it, he long ago established a trigger that lets him turn on the engine. He's amazing at his job, and I would argue that this practice has played a positive role in his journey. By my math, he spends north of $600/year on this "dumb habit," as his wife refers to it. In my opinion, though, it might be one of the best financial investments in his life. A simple joy, a tangible trigger, a moment of normalcy. I'm not a pop drinker, but I think it's pretty dang cool. 

I have a few similar habits in my life, and perhaps you do, too. Whatever they are, I encourage you to not unfairly judge them as "wastes" or "irresponsible." Each of us needs to find a rhythm that allows us to experience normalcy, meet a simple want, and act as a trigger to something even more important in the journey. 

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Blind Spots, In Action

Yesterday's post was on the spicier side, not because of my words, but because of the overarching subject matter. Several of my friends reached out yesterday (in love) to suggest I stay clear of these types of topics and instead keep my focus on my core mission. If you stuck with me and you're back today, I hope you'll see how it all fits together.

"Our blind spots are killing us. They are killing our relationships, our personal growth, and our success." Those were some of my parting words in yesterday's post. Despite clear evidence right in front of us, we humans tend to see only what we want to see.

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Many years ago, one of my young friends was struggling to land a good job. He was extraordinarily bright, charming, and driven. In his words, he was "overqualified" for all the jobs he was applying for, thus resulting in him being repeatedly turned down for job opportunities. In a fun little twist of circumstances, my team was hiring, and I thought he might be a good fit. I invited him to apply, and he eagerly obliged.

The interview was a disaster. While he was, in fact, a bright, charming, and driven young man, he came across as arrogant, condescending, and entitled. He presented himself as a know-it-all, made terrible eye contact, and overall, lacked professionalism.

Needless to say, he didn't get hired. The entire situation was a dumpster fire. On the heels of this debacle, he again lamented to me about how he's simply too "overqualified" for most jobs, and he's a victim of his elevated abilities. When I shared some feedback from the interview process, he immediately dismissed me, seeing only what he wanted to see. If he could overcome his blind spots, he would have easily been able to develop his interview skills, allowing his true giftedness an opportunity to flourish.

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In the past few years, I've met with countless young couples who are struggling with their finances. As we work through the numbers and their personal financial situations, they offer their perspective on what's happening: "The Boomers have ruined our economy, and it's nearly impossible for our generation to succeed. The entire system is stacked against us, and nobody gives a s#$t." The exact words of one of these disgruntled people.

Translation: they are victims of overarching systemic issues. Inflation, high housing prices, a tough job market, stagnant wages.....the list goes on. While I'm not arguing that these things do or don't exist, I think there's more to the story.

Here's what I uncovered. Their financial lives were comprised of a series of terrible and destructive decisions. They've structured their lives in such a way that they constantly back themselves into financial corners. However, since they only see what they want to see, they are blind (and defiant) to these dynamics. If they could overcome their blind spots, they could easily gain control of their finances and set themselves free from the misery that's been bestowed upon them.

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Lastly, I'll share the story of Sam. Like millions of Americans, Sam is in tens of thousands of dollars of consumer debt...$59,000 to be exact. Credit cards, car loans, student loans. Everything he's been told his whole life indicates he's screwed, and there's no way out. A debt-filled life is inevitable. I walked him through a simple but effective process that would free him from all this debt within 24 hours. "Impossible!" The black-and-white numbers said it was doable, but he saw only evidence of the doomed nature of his life. If he could overcome his blind spots, he could transform his life.

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These blind spots are so very real. They aren't just costing us dollars and cents; they are costing us our freedom, our dreams, our callings, and our meaning. Please don't allow your blind spots rob you of what could otherwise be something truly special.

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Got a Secret to Tell Ya

Today is your lucky day, as I got a secret to tell ya. Ready for it? Okay, here goes. You know all the people in your life who look wealthy? They probably aren't. In fact, most people who look wealthy are far from it. I've worked with hundreds of families over the years, and this is a common and predictable theme.

They might have a lifestyle that suggests they are wealthy, but, in a fun twist of irony, these perceptions they create are among the factors that keep them from actually being wealthy. Cars, houses, clothes, trips, toys, technology, clubs....each of these externally facing expenditures puts pressure on finances (never mind the debt). Translation: In an attempt to look wealthy, people often sabotage the finances that might lead them to actually become wealthy.

I have a bonus secret for you! You know all the people around you who are just living normal underwhelming lives? A good chunk of those families are actually wealthy. They don't care what you, me, or anyone else thinks of them. They don't need to show off. They don't need to portray a certain image. They simply take care of their business and keep their heads down. These also happen to be the most generous people, too, as they don't feel the need to selfishly spend all the money on themselves.

Next time you see one of your friends, family, co-workers, or neighbors and think to yourself, "man, I wish I were as wealthy as they are," you might already be. You might think you want their financial life, but if you were to see what's on the other side of that curtain, it might make you grateful for the life you do have.

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Here’s My Prediction

"What's the stock market gonna do this year?"

One of my friends asked me to look into my crystal ball and let him know what he can expect from his stock market investments in 2026. Here is my prediction: Somewhere between -40% and +40%.

He rolled his eyes at me, pointing out that that doesn't sound like an expert answer. Great observation, as any "expert" who claims to know what to expect is a fool, not an expert.

The market was supposed to get crushed in 2020 after COVID reared its head: it ended the year +18%.

The market was supposed to have a bad year in 2021 on the heels of an inflated 2020: It ended the year +28%.

The market performed as expected in 2022: it ended the year -18%.

The market was supposed to have a tough year in 2023: it ended the year +26%.

The market was supposed to have an even tougher year in 2024: it ended the year +25%.

The market was supposed to be devastated in 2025 (which seemed to be evidenced by the early 20% tariff-driven "collapse"): it ended the year +18%.

In theory, the market will get crushed in 2026. In practice? I guess somewhere between -40% and +40%. More importantly, nothing that happens during the year, good or bad, will influence my investing decisions or perspective. This year doesn't matter. Next year doesn't matter. All that matters is the big picture....decades.

Therefore, sit back, grab some popcorn, and enjoy the roller coaster ride. Oh yeah, and embrace your meaningful life along the way. Life is too short to worry and lose sleep over something we can't control.

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He Gets It….For Now

My 9-year-old son Pax was ecstatic! After a grueling few hours of work on a random Saturday afternoon, he received a cash deposit into his bank account. His new total balance: $107. This is the most money he'd ever possessed at one time. Typically, he squanders it as fast as he receives it. It's not uncommon for his account balance to hover between $0 and $2. But today, he has more than a hundred bucks.

While in the midst of his celebration, I ask him if he's planning to use it for anything in particular. "There's not really anything I want right now. So, no."

"Congrats, you're wealthy now!" I said.

"Having more than $100 makes me wealthy?"

"No, it's not about how much you have. You not wanting more than you have makes you wealthy. That's called contentment."

Granted, we just passed Christmas. He received some fun gifts, and he's still riding that high. I'm sure it's merely a matter of time before his materialistic instinct kicks in again. In the meantime, though, I want to stress these principles to him. These aren't principles for little kids; they are principles for humans.

If we always want more, we're never wealthy. If we can control our desires and ensure that our wants never exceed our resources, we're wealthy. This is a universal truth, regardless of age, education, or income.

I know families who make $400,000/year that are poor, and I know families who make $80,000/year who are wealthy. The mindset dictates everything. My family's income is lower than it was seven years ago when I left my prior career, but we're wealthier than ever before. We're not beholden to our wants, desires, and physical aspirations.

Are there material things we want? Absolutely! We'd love to purchase different cars (which we probably will soon). We'd love a small condo in our favorite lake town. I'd love to eat at Michelin-starred restaurants every month. I'd love to make a half-dozen international trips each year. I'm not immune to these human wants, but they don't drive me. They don't dictate my position in life. They don't define me.

I hope Pax sits on this idea for a while. I hope he savors the fact that he's not in a constant state of want. Then, at some point, I hope he finds something really, really cool that he wants to spend the money on. I hope he thoroughly enjoys it and knows that it was the absolute best use of his funds and adds a ton of value to his life. That's another valuable lesson. But for now, he's wealthy.

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A Little Man’s Lesson of More

We have a firm rule in our house: No video games during the week. The boys love playing video games, but it's not allowed during the school week. Between Friday night and Sunday afternoon, though, they can get video game time. One game they recently discovered is Fortnite; they are loving that game.

Fortnite has a very specific business model. The actual game is 100% free. Anyone can play the game as much as they want at zero cost. Then, the game developers will continuously release little extras for purchase: skins, accessories, music, etc. There's always something new, and as you can imagine, it's only available for purchase for a limited time (gotta create that urgency!).

Recently, Finn discovered a skin that he really, really, really, really wanted to buy. "It's only $6, Dad!!!" I immediately knew this was a great teaching moment. I explained to him that he's 100% able to buy it with his own money, but I added a word of caution. I told him that while this item seems cool to him today, he'll want something else almost immediately.

"You're always going to want something else."

"No, Dad, this is the only thing I want. This is it. I won't be buying anything else."

Again, I explained the problem with more. Every time we get more, more is still, well, more. There's no such thing as enough. He said he understood, but insisted that he'll be content after this purchase.

Fast forward to next weekend, and Fortnite introduced additional items for purchase. Would you believe that Finn desires one of these new items even more than the one he purchased a week ago?!?! Turns out, he's human.

I explained this concept again and reminded him of what I told him last week. He said he completely understands, but he's serious this time, "I won't want anything else after I buy this one. Seriously, Dad!"

The curse of more infects us when we're young and sticks with us until we die. It's not a matter of wiping it clean or pretending it doesn't exist. Instead, the mission ought to be to recognize it in ourselves, stay cognizant, and manage it well. This isn't the end of the story for Finn, just as it isn't the end of the story for you or me. Each day is its own battle. Every day presents new opportunities for us to overcome our desire for more, or to succumb to it. It's a sick and twisted game that's thrust upon us by both our culture and our own wiring.

As for little Finny, I suspect it's going to take a few more failures for him to recognize this element within himself. We'll keep battling!

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A Time and a Place

"Context matters," as I often say. Sure, it's easy (and fun) to paint everything with a broad brush and portray everything as concrete and definitive, but that's a lazy approach.

Do you use DoorDash? DoorDash gets a terrible rap. First, we're too lazy to make our own food. And now, we're too lazy to pick up the food we're going to eat because we're too lazy to cook in the first place?!?! And we're going to pay an arm and a leg for the privilege of doing so?!?!

Context matters!

A few nights ago, I jumped in my car and headed toward the cattle ranch. I hadn't ridden in a car for longer than 15 minutes since Black Friday, and every time I experienced these short little commutes, it felt like needles being shoved down my spine. A few nights ago, I gutted out a 3-hour drive. It was miserable, to say the least.

By the time I got to my hotel, I just wanted to lie in bed. At the same time, though, I also wanted a big platter of meat. I was as equally hungry as I was tired. I had zero energy left to leave the hotel, and zero pain tolerance left to sit down at a restaurant. Enter DoorDash. I found a nearby barbecue restaurant that was more than happy to send a big platter of meat to my hotel room. I suspect this item probably costs $20-$25 in the restaurant, but my bill? Including fees and tip, I paid $40. An hour later, I was lying in bed eating a giant platter of barbecue.

Best 40 bucks I've ever spent! Could I have saved $15 by going to the restaurant myself? Absolutely!!! Mathematically speaking, would that have been a wise financial decision? You bet! Contextually, would that have been a good decision? No way!!! I made the absolute right decision that night, and I have zero regrets pulling the DoorDash trigger.

Context matters in all we do. We should stop painting everything with a broad brush, and properly assess each decision for what it truly is. Simply saying DoorDash is stupid, lazy, and evil is a fool's errand. Instead, it needs to be put into context with the situation at hand. While I don't typically get food through DoorDash, the times I do are huge blessings to me.

Please don't listen to criticism from people who aren't privy to the context of your situation. If we allow every broad brush to paint our decisions and beliefs, we'll rob ourselves of the nuance that can make all the difference in the world.

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How Much Is a Crack Worth?

My neck is starting to get better, thanks to my chiropractor. I'm finally able to turn my head to the side (though with much pain). A conversation I had with a friend sparked today's post. Here's what he said: "I can't believe you'd pay a chiropractor 50 bucks for something he can do in 5 minutes. What a rip-off!!!"

That's an interesting perspective. What is a chiropractor worth? My treatment did cost $50, and he did, in fact, only take 7 minutes to perform the adjustment. That means I effectively paid him $430/hour for his time. Is a chiropractor $430/hour?

Trick question; it's irrelevant. I don't pay a chiropractor for his time; I pay him for the impact he has on my life. I don't care if it took him 7 minutes or 70 minutes; I walked out of his office with more function and comfort than when I walked in. So yes, it's 100% worth $50 to me!

This is the problem with so much of how we look at business and culture. We try to judge everything and everyone by the lowest common denominator. How long did it take them? How much did the inputs cost? What are the business's overhead costs? What's the embedded profit per item, and in my skewed opinion, is it reasonable? How many years of education/training did it take for them to perfect their craft? It's all rubbish. None of it means anything.

Once in a blue moon, a prospective client will ask me to break down the number of hours I plan to spend on them to justify the price of my coaching package. In that moment, I immediately know they aren't the right client for me. I'm selling them life change, not my time. The moment they try to boil it down to my time on a per hour basis, I know it's not a good fit.

You probably live on both sides of this. As a consumer, you make hundreds of purchase decisions every week. Instead of trying to boil something down to its lowest common denominator, simply ask yourself if the outcome of purchasing this product is worth the price. It's that simple. In my case, it's not asking if paying my chiropractor $430/hour is a reasonable price, but rather, if $50 is worth my ability to function in life. Yes, please take my money, Mr. Chiropractor!!!!!

You also live on the side of the seller. Everyone is selling something. Whether you're a business owner or an employee for a company or organization, you're selling something. I strongly encourage you to spend less time focusing on the features and benefits of your product/service and more time on the impact your product/service will have on someone's life. People don't care as much about features and benefits nearly as much as they do about how their life will be better as a result of purchasing from you. Tell them. Show them. Shine the light on impact. That's ultimately what people want......and what people need.

Is my chiropractor worth $430/hour? I don't know, but I can confidently tell you that $50 is a steal of a deal for me to be upright and functioning. Impact. Always impact.

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Closer Than You Think

I recently stumbled upon a few surveys that were beyond concerning. Here are the headline numbers from each:

• 69% of American workers believe they could work until retirement age and still not have enough money to retire.

• 68% of Millennials don't believe they will ever be able to retire without receiving a meaningful inheritance.

Neither of these is surprising, but still concerning, nonetheless. Americans, on the whole, are tremendously underprepared for retirement. I feel that way on a family-by-family basis, and the average and median retirement savings numbers also back it up. We are woefully prepared for the next chapter of our lives, which is a deeply concerning trend.

However, I have good news for you today. Strike that, great news!!!!! I have great, amazing, fantastic news for you today. If you've been trying to make progress on the retirement front but feel like you're not getting as far as you had hoped, you're probably closer than you think.

Last week, I met with someone seeking investment advice. In his words, "I've been saving for nearly a decade, and all I have to show for it is $100,000. I'll never get to a million. I don't even feel like it's worth trying anymore."

My response: "Congrats, you're a third of the way there!!! Keep going!"

Him: ..............

Now, it's obvious that $100,000 is not 33% of $1M. Any idiot can tell you that. From a sheer dollar perspective, he's only 10% of the way there. However, investments (if done right) don't work on a linear scale. In the financial world, we call it compounding. When our money is invested, we make money on our money. Then we make money on our money plus the money we previously made. Then we make money on our money plus money on the money on the money. It's a cycle that speeds up over time.

Here, let me show you with an illustration. This is an example where someone invests $500/month and earns an average of 9% per year over the long run. We obviously won’t earn a consistent 9% over time (it will be a bumpy road for sure), but this makes for a useful visual:

As you can see, it takes a little more than 10 years to accumulate the first $100,000. That was the hardest part, and often where people get frustrated and give up (i.e., the studies referenced above). However, because of the power of compounding, the second $100,000 only takes five-ish years (half as long!). The third $100,000, only 3.5 years. All the way up until that last $100,000, which takes just over a year to complete. From a time perspective, you're halfway to your $1M goal by the time you hit $200,000. Crazy!

This is a concept that's hard to wrap our minds around, but is so freeing once we do. I do my best to beat this into the head of anyone who is feeling discouraged by the process. It's so easy to give up along the way if we don't understand just how powerful this compounding thing will eventually become.

Don't be discouraged. Have a sense of urgency, yes, but don't feel defeated. Keep pushing through, and let compounding do the heavy lifting for you.

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It’s All a Game

Social media went wild a few days ago when someone posted a video while walking around a Target store. Specifically, he was shopping for Christmas trees. One particular tree was priced at $122.50, but underneath, it read, "Reg. $175 | Save $52.50."

Oh wow, this is a great deal, he thought! Then, he spotted something else. Each physical tree box had a little white sticker on the exterior. When he peeled back the sticker, it read "$120."

To summarize, Target is telling its customers that this tree regularly sells for $175, but it's going to sell it to you today for a screaming deal at $122.50. Meanwhile, the company that manufactured the tree is stating on the box that the tree should cost $120.

The collective was furious. Theft, fraud, immoral, ripping us off, evil corporations......the list goes on. Needless to say, people were upset. I, however, feel differently about it. I call it marketing. Target (or insert any other retailer here) can say whatever it wants and price it whatever it wants. It's our job, as consumers, to decide if said price is worth the value it brings to our lives. If Target wanted to price that tree for $10,000, they are free to do so. They probably wouldn't sell many (or any!), but that's what the free market allows. On the flip side, they are also free to price them for $25. Doing so would likely result in an immediate sell-out, but again, that's their business. If they wanted to say that the tree is regularly $500, I suppose they could have done that, too. To me, that's the entire business model of Kohl's.....IYKYK. Companies have been employing these tactics for decades......maybe centuries!

Today, as we experience Black Friday, the official start of the Christmas season, I encourage you to ignore the noise. Try to push aside all the mixed messages you're receiving from companies. Everything that's communicated to you is to achieve one goal: Motivate you to purchase their product.

But when we look at every opportunity through the lens of cost vs. value added, we can make a clear and confident decision. I don't care whatsoever what a product normally sells for. All I care about is whether $x price is worth the y value a potential purchase will add to my life.

Don't be fooled. Don't be discouraged. Don't be manipulated. Don't be influenced. If we go into these types of environments knowing their motivations and the tactics they might use to trigger our actions, we'll make wiser, more prudent decisions.

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The $10 Fast-Food Burger

$10 for a fast-food burger?!?!

As I was on my way home from the cattle ranch last night, I knew I needed to stop somewhere for food. I had decision fatigue after a long week, so my brain wasn't working very well. Then, I saw it. There was a Hardee's approaching on my right. I hadn't been to Hardee's in more than a decade, so it seemed like a decent opportunity to break that sad streak.

"I'll have a Frisco burger. A double, please."

As I processed my payment and collected my receipt, it dawned on me that I had just purchased a fast-food burger for $10. $10? What in the world!

A few minutes later, I hopped back in my car with my overpriced fast-food burger. Probably not a wise decision on my part, but it was quick and it was food. Oh well, I can't win 'em all. Then, something changed. I opened the wrapper and took a bite. Whoa! For being a fast-food burger, that's one heck of a fast-food burger! It was delicious.

In a matter of 30 seconds, my posture shifted from "I just made a bad choice" to "Please, take my money, Hardee's."

It was a classic case of price vs. value. On the surface, the price seemed expensive. However, once I was able to rationally compare the price to the value, it felt fair.....more than fair.

For as often as I write about the importance of always comparing cost vs. value, I almost fell into the trap of judging something solely based on price. That delicious cheeseburger was a fantastic reminder to always keep this concept in perspective.

It's a small and silly example, but that cheeseburger is a great metaphor for our day-to-day lives. We come and go, making decision after decision. If we're not careful, we can easily make choices based on price, ignoring the value. I'm guilty of it, and I'm sure you are, too. So, this weekend, as you venture out into the world, always remember to weigh the value as you're making decisions; you'll thank yourself for doing so.

Oh yeah, and maybe swing into Hardee's for a Frisco burger!

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Impact, Not Features

I was talking to a friend about her business. She has a unique business model and sells an even more unique product. On the surface, it's not really my jam. I'm not particularly interested in this field, and it doesn't resonate with me on any emotional level. However, my role wasn't to love her product, but rather to add value to her business in helping her see things more clearly. 

I asked her to explain the product. She began sharing about all the features and what a customer would get for the money. Interesting, indeed, but how much does it cost? When she told me the price, I immediately grimaced. Ouch, that feels expensive! I asked her to shift gears. Instead of telling me what a customer would get, I wanted her to explain how it would impact someone's life. Oh, now I was interested! She shared some really interesting perspectives about how a customer's life would improve because of this product. Then, she added, "And they will be able to use it for the rest of their lives." 

In that moment, her product's questionable price felt like the world's biggest bargain. You mean to tell me that for only $____, my life will be positively impacted in XYZ ways and it will be so for the rest of my life?!?!? Sold! Where do I sign up? I was hooked. In just five minutes, this went from a product I have no genuine interest in to one I NEED in my life. I’m completely enthralled by what she’s doing!

If you're a business owner, take note of this paradigm shift. However, I don't want to expound on this from a seller's perspective. Instead, I want to flip the script and focus on the buyer's experience. As consumers, we too often get bogged down by the features and benefits of a product. We look at the price and compare it to the features, then walk away. If we were wise, we would instead look at products and services through the lens of impact. 

How will this product or service impact my life? What difference will it make in my journey? How will it make my life easier? How will it make me more productive? How will it improve my health? How will it increase my longevity? What joy will it add to my day-to-day life? 

My experience is that when we look at prospective purchases through this lens, it completely transforms how we measure cost/benefit. What might have otherwise felt expensive can quickly become a bargain. Conversely, what might have otherwise felt cheap can quickly become a ripoff. 

I feel like most of my personal purchases fall into what culture would classify as "wasteful." However, each one is specifically curated to maximize the impact on my life. I don't buy much for myself, but when I do, the value it adds to my life far outweighs the cost.....even if the cost might seem higher. 

As consumers, we should focus far more on impact, and much less on features. If we can make that mental shift, we can begin playing an entirely different game. 

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The Cost of Being Human

I received dozens of messages on the heels of my recent credit card article. In the post, I highlighted how 46% of credit card holders (approximately 100 million people in America) don't pay off their balance every month. In other words, nearly half of the people who use credit cards carry debt due to the use of said credit cards. This is a pretty shocking statistic considering every single person who uses a credit card claims they never carry a balance.

I have to admit, though, that if 46% of people carry a credit card balance, it means that 54% of people don't carry a credit card balance. If you live in this camp, chances are you're more than happy to throw that fact in my face right about now. I've written about this topic before and podcasted extensively about it, but there's a sneaky little behavioral science quirk that plays a bigger role in our lives than we'd like to admit.

Even if we never pay a single penny of interest or carry a balance from month to month, we're still subject to the psychological consequences of disconnecting the purchase from the payment. When we buy something today that we don't actually pay for until upwards of a month from now, it impairs our decision-making. This is a scientifically proven concept. In fact, studies have shown that we spend 10%-30% more when using a credit card than we would have if we used cash. Further, we're more apt to make purchases that we wouldn't have made at all. Ouch!

Here's an interesting note I received from a blog reader who has successfully managed to use a credit card for many decades without carrying a balance or accruing any interest:

"I always thought I was using our one credit card responsibly because we paid it off every month. That is, until my wise daughter suggested I look at my list of credit card purchases and see how many I would have made if I had to pay cash for them. I realized I made a lot more impulsive purchases when I use a credit card, even though I never carry over a balance from month to month."

This. This right here. She's so, so right. I applaud her humility and vulnerability in this statement. You know how I know it's true? She's human, and we humans have this psychological quirk. That doesn't mean we're dumb or irresponsible......we're human. It doesn't mean we're being reckless or foolish.....we're human.

I'm not mad at people for using credit cards. I don't look down upon them. Yes, people can still be successful when using them. At the same time, my mission here is to open people's eyes to the unseen costs and hidden psychological forces of utilizing this little piece of plastic technology. Nothing is free, as they say.

I, for one, will continue to live a life free from the behavioral and financial consequences of credit cards, and I'd encourage you to do the same. Either way, press on and have a great weekend!

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The Oz Next Door

Oh man, I took some HEAT heat after yesterday's post. Yes, some productive feedback, for sure. But the heat was hot. One particular criticism caught my eye:

"You throw around all these statistics, but there's literally not one person in my life who is struggling with credit card debt."

I'm sure you've seen The Wizard of Oz; it's a classic! My favorite scene in the movie is after 93 minutes of being made to believe Oz is so great and powerful, the curtain is pulled back to expose him as a fraud. It turns out he used smoke and mirrors to portray himself as this great and powerful wizard, when the truth was he was a frail old man.

This might come as a shock to some, but you probably have an Oz living next door to you. You probably have an Oz in the cubicle next to you at work. You probably have an Oz in your family. That fancy-looking couple at church? Possibly an Oz. The "rich" person you tend to get jealous of? Possibly an Oz.

In my work, I have the privilege of seeing behind the curtain of hundreds of households. The world sees what it sees, and in many cases, they see a great and powerful wizard. Unfortunately, what's really behind the curtain is a proverbial frail old man.

What appears to be wealth is really debt.

What appears to be freedom is really slavery.

What appears to be success is really destruction.

What appears to be wisdom is really tomfoolery.

What appears to be sturdy is really fragile.

I could tell you story after story after story of wealthy-looking people who appear to be the definition of success, but are on the brink of utter destruction.

I've witnessed so many tears from people who make $500,000+ per year, live in mansions, drive luxury vehicles, have a social media timeline full of exotic travel pictures, and have status in their community.

In many of these cases, credit cards aren't what directly propelled them into a financial spiral. Their car loans, lifestyle creep, and hefty mortgages did the initial damage. However, almost every one of these situations eventually results in brutal credit card debt. The credit cards become the symptoms of destruction, and the boat anchor that prevents the ship from ever floating again. They can always sell a car or a house, but there are only two ways out of credit card debt: grind it out or file for bankruptcy. It's the silent killer that's draining the hopes and dreams of an entire generation.

You absolutely know dozens of people who are deeply impacted by credit card debt; you just don't know which ones. They are hiding behind their curtains, hoping to maintain their appearance of being a great and powerful wizard.

Moral of the story: Never be jealous of the people around us. They might be an Oz. Instead, live with a posture of contentment and humility, pursue meaning, and never allow the desire for more to pollute your peace.

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Just Pay It Off Each Month, They Say

Credit cards are our best friends... until they become our worst enemies. Unfortunately, we never know when that tipping point will come. One minute we're fine, and next our financial life is ruined. I've been on a crusade against credit cards for nearly 15 years, and there's no better topic to stir up the hate train than to discuss my disdain for them.

First, no, I don't use a credit card. I used one from age 18 to 30. Then, after much research about the cold, hard data, the predatory nature of the product, and the behavioral science implications, I drew a line in the sand and decided to permanently ban them from my life.

A quick FAQ:

• What do you use if you don't have a credit card? We use debit cards.

• What about the risk of your card getting stolen? Our cards have been stolen multiple times. It's annoying, but you aren't liable for loss.

• What about travel? You NEED a credit card for travel. I've traveled to more than 30 countries with only a debit card. It works great.

• Don't you need a credit card to book a hotel room? No.

• Don't you need a credit card to rent a car? Some companies, yes; other companies, no.

• You use your debit card for online shopping?!?! Haha, yes. Every single day of my life.

• Don't you want to build credit? No. I haven't had a credit score since 2015.

Here's one of the primary arguments FOR using a credit card (primarily to collect those sweet, sweet points): "Just put everything on a credit card and pay it off every month. Just be responsible!"

The truth is, that's not what people do. In theory, yes, that's a great idea. However, in practice, the data shows something much different. My coaching experience already tells me this is true, but data recently released by the Federal Reserve paints a clearer picture.

• There are currently an estimated 268 million adults living in the United States.

• 81% of those adults, or 217 million people, own a credit card.

• Of the people who own a credit card, 46% (100 million people) carry a balance each month.

"Just put everything on a credit card and pay it off every month. Just be responsible!"

This principle works really, really well......until it doesn't. And today, unfortunately, 100 million adults in the U.S. are (secretly) living in the "until it doesn't" reality. This is ripping families and lives apart!

"Well, it must be the young, irresponsible people who are being stupid with their credit cards."

• The demographic most affected by carrying credit card balances is 45-59-year-olds, with 54% of cardholders carrying a balance from month to month. "Only" 44% of 18-29-year-olds carry a balance.

"Well, if people made more money, they would pay off their credit cards instead of carrying a balance."

• Even in households earning $100,000 or more per year, 38% of cardholders carry a balance from month to month.

Credit cards aren't a math problem; they are a human problem. Credit cards aren't a responsibility problem; they are a psychological problem.

Something to think about today.

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A Good Ol’ Fashioned Audit

Never underestimate our human instinct to practice the status quo. It's so much easier to keep doing what we're doing, even when doing something different would be in our best interest.

Nowhere is this concept more applicable than when I'm meeting with new clients. While my client might have been doing the same things for the past decade, I challenge every category in their budget. It can be a startling moment for people. Yeah, I understand you've been paying $25/month for xyz service for the past 15 years, but does it add more value today than it's costing you?

You wouldn't believe how many expenditures in our lives fall into the camp of not being as valuable today as they once were. Yet, we keep them around out of habit (and the path of least resistance). Here's one example. One of my clients is paying $80/month for a service. Upon asking them about it, they said it's something they've paid for about 12 years......so, naturally, it should stay. I asked a few more challenging questions. Turns out, they don't utilize the service nearly as much as they used to. Meanwhile, the price is nearly triple what it used to cost. If they are using it half as much as they used to, and it costs three times as much as before, it's only 1/6 as valuable to their lives as it once was. Through that lens, it became the world's easiest cancel.

After going through this exercise across their entire financial life, this couple managed to cut nearly $400/month of expenditures without giving up much value. Overall, huge win! A good ol' fashioned audit can be a breath of fresh air.

As the year comes to a close, I challenge you to perform a good ol' fashioned audit on your finances. Seriously consider what's adding value, and what's not. It's not about spending less, but rather ensuring that you're getting as much value (or more) than you're paying. Some cheap expenditures are rip-offs, while some expensive expenditures are bargains. It's an interesting exercise, and one I think you'll be grateful for engaging with. Happy hunting!

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So?

One of my friends is at a crossroads. On one hand, he absolutely hates his job. It's soul-sucking and has repeatedly beaten him down for the past decade. On the other hand, he has some very clear and definable ambitions. He knows exactly what he doesn't want to do......and he knows exactly what he does want to do. There's one thing that stands in his way, though. "What if I'm not good at it?" Fear. More specifically, the fear of failure.

My response was concise: "So?"

We humans are so hard-wired to avoid failure that we'll willingly endure decades of misery in order to prevent ourselves from failing. In my opinion, the fear of failure is the number one reason why most of us don't pursue the things we want most.

What if nobody buys my book?

So?

What if I don't make the team?

So?

What if she's not interested?

So?

What if they don't hire me?

So?

What if the business doesn't take off?

So?

I, too, used to fall in the fear-of-failure camp. Then, something happened. Instead of asking myself, "What if I fail?" I started asking myself two different questions:

• "What's the worst that can happen if I fail?"

• "What if I succeed?"

In most cases, the worst-case scenario of failure had less to do with actual loss than it had to do with bruising my own ego. It was a pride play!

On the flip side, the answer to my "What if I succeed?" question was usually far more amazing than my "What's the worst that can happen if I fail?" answer was terrible.

This eventually morphed into a new conversation that would play out in my head each time I experienced self-talk.

• "Negative blah blah blah."

• "So?"

• "More dumb negative blah blah blah"

• "So?"

The power is in the "So?" In a world that not only tells us we can't, but also that we shouldn't, I think we should change it to we CAN and we SHOULD. Yeah, crappy things could happen, but so?

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A Heavy Anchor

A huge shout-out to the couple that granted me permission to share this story. I pray good comes from it, and that my harsh-ish words can move the needle in their marriage!

Picture this. I'm sitting face-to-face with a couple. They are stressed, frustrated, and borderline depressed. The tension in the marriage is palpable. You could cut the desperation with a knife. Finances are killing them! Specifically, a lack of income is killing them.

Oh yeah, I should probably add one more piece of information to the picture: Their monthly take-home income is $22,000. Yeah, you heard that correctly. $22,000/month......every month. And according to them, there's simply not enough money to keep the train on the tracks. Or, as they put it, "It costs a lot just to survive these days!"

At one point in the conversation, I pointed out to them that just their monthly housing cost (plus utilities) rivals what most people in their town make in a month. They looked at me like I had an alien growing out of my forehead. Again, I tried to put into perspective just how much money they make. They continued to stare at the alien apparently bursting from my face. I explained that the client I met with earlier in the day (who coincidentally lives 1/4 of a mile from them) has a total take-home income of about $7,000/month (and is thriving!). The wife looked like she was either going to have an aneurysm and/or hop over the table to stab me.

I don't know about you, but most people don't even dream about making $22,000/month take-home. In fact, most people probably wouldn't even know what to do with that type of income. Yet here I was, talking to a couple who were lamenting that $22,000 isn't enough monthly income to even survive.

I was getting nowhere. I asked them how much money they made early in their marriage; "Probably $4,000/month." Well, that's a bit different from their current situation. "But the world has changed a lot since then." Fact check: That was seven years ago.

Here's the harsh truth. Unless we're willing to live with humility and contentment, there's no amount of income that can satisfy us. The problem with more is that every time we get more, more is still more.

I offered a few suggestions for how this couple could create financial margin. In some families' situations, it can be challenging to open up much-needed margin. This family, however, has a treasure trove of options for swiftly and materially lightening the tension in their finances. Want to know where they landed? The husband is going to pick up some extra work on the side (nights and weekends) to see if they can make a few thousand more per month.

Here's my promise to them. If they stay on this course, we'll be talking a few years from now. They will be making $25,000-$30,000 per month, yet feel just as broke, stressed, and resentful as they do now......if their marriage survives.

They deserve better than this. You deserve better than this. We all deserve better than this. Don't let the curse of more pull you down.....it's one of the heaviest anchors ever created.

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