The Daily Meaning
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The Psychological Impact of Sunk Costs
I thought you deserve an update on my NBA play-in game ticket debacle. After literally everything working against me, I had two tickets to last night’s 8-seed play-in game (which cost a total of $550)…..and nobody to go with me. As the week played out, I continually debated what to do about the situation.
The Chicken and Egg of Hospitality
Yesterday, I woke up to the pleasant surprise of my friend TJ having an op-ep published in the Des Moines Register. In it, he makes a case for genuine, servant-hearted hospitality. Not service, but hospitality. This is a topic that’s near and dear to TJ’s heart. I know this because I talk to him maybe 4-6 times per week and it comes up in approximately 100% of our conversations. It’s at the core of everything he does as a business owner (and as a person, frankly).
It Will Change You
It wasn’t long ago that I struggled to create written content for this blog. For three years, I would maybe publish 1-3 posts per month. That is if I published anything at all. The most I ever published in a single month was 7 posts (which felt like a massive accomplishment). I simply didn’t have enough content or enough time to do more than 3 posts most months.
Can't Win 'Em All
On Saturday, I was struck with a brilliant idea. Ok, maybe it wasn’t brilliant……but in my head it was! The Minnesota Timberwolves were a near lock for the 9th seed in the NBA’s Western Conference, meaning they would host a home play-in game on Wednesday night. Considering this is a borderline bucket list item for me, the idea of road-tripping to this game excited me. That’s when my second brilliant idea surfaced. My buddy, Keaton, is a Minneapolis resident and a huge Timberwolves fan. It was then and there that I decided to buy fantastic seats for that game and gift my friend an awesome experience. He said he was in, I bought the tickets, and I rearranged my schedule. Investing in memories, notching off a bucket list item, and giving an awesome gift to a friend…….such a cool situation! Brilliant, right?!?!
Green Egg & Ham
I ran into my friend, Abby, yesterday and asked her about her Easter weekend. She mentioned her family had smoked ham and a ton of other food. Then, she added, “They smoked it on a green egg smoker.” This launched into an entirely different conversation, leading another person to laugh about the fact someone would make a smoker in the form of a green egg. Who does that? Why would they do that? What’s the point of doing that?
"I Did It!!!"
One of the main topics I teach in our high school money class is how it’s possible for every single person to graduate from college debt-free. Not surprisingly, this is a very controversial idea. Our culture teaches us that we are either a have or a have-not, and our student loan fate rests in which one we are. I think this toxic belief is one of the primary reasons why much of our society is crippled with a ton of student loan debt.
Not All Days Are Created Equal
Sometimes, life feels repetitive. The same rhythm, the same routine, the same responsibilities, the same drives. Even when these things align with your values and mission, the repetitiveness can make us weary at times. But not all days are created equal. Some days just stand out. Some days are different. A special event, meeting someone new, reconnecting with an old friend, starting a new project. These types of days are special, but they wouldn’t be special if it weren’t for the “normal” days. It’s kind of like a vacation. A vacation is a vacation because not every day is a vacation. If every day were a vacation, a vacation wouldn’t be a vacation. Can we make up a new term and just call it the “vacation paradox”?
The Many Shapes and Sizes of Sacrifice
On the heels of yesterday’s post, a handful of people reached out asking about the idea of sacrifice. The joy piece is simple and self-explanatory. The sacrifice piece, however, can be a bit trickier. Sacrifice looks different for everyone. For my youth group students, giving $20 may be a sacrifice. To a few of my clients, though, a $10,000 gift wouldn’t be a sacrifice at all.
It is Good
I keep wanting to introduce today’s blog by wishing everyone a “Happy Good Friday,” but that seems a bit off. It doesn’t feel good and it doesn’t seem worth celebrating……that shall come on Sunday. Today is always a tricky day for me. It feels intense, somber, and introspective.
Enjoying the Little Moments
Yesterday, while in the middle of a coaching session, the tables were turned on me. The client is a very successful business owner who is notoriously hard on herself. The conversation morphed into a discussion about how, on multiple occasions, she stopped to enjoy the little moments throughout the month. A client of hers reached a milestone. A testimonial where someone shared how much my client impacted their life. A staff member who had a breakthrough. A day when she was able to step away from the business to enjoy time with her family. Awesome little moments.
How Much Lemonade Can You Make?
I’m a big believer that good can always come from bad situations. Turning lemons into lemonade, right? But what happens when there are just too many lemons? I suppose we should keep making lemonade, but how much lemonade can you make?
Walking the Line Between Guilt and Growth
Welcome to the unexpected third installment of the unexpected three-part series about parenting and money. Thanks to Pax’s broken arm and a lot of reader feedback, this has turned into a fantastic discussion. Over the past few days, I’ve received a lot of questions and wonderings from parents. Many share a situation relevant in their life, then ask if it’s perpetuating guilt or growth. In short, there are a lot of parents doing a lot of good parenting…..in less-than-ideal circumstances. I thought it would be worthwhile to share one common example, as it carries a lot of parallels to many different scenarios we as parents may find ourselves in.
"Daddy, When Does the New Month Start?"
I was expecting a lot of feedback after yesterday’s post, and I was not disappointed. Some people had some questions. Some people shared their own experiences and how it’s negatively impacted them for literally decades. Some people had mixed feelings about my advice. Some people, who use money as a weapon with their kids, defended using money as a weapon with their kids. Lastly, some people interpreted the post as me advocating that we as parents not talk to our kids about money. This is where today’s post comes in.
Don't Let Your Kids Wear It
As the parents of twin boys, our household motto for the last six-and-a-half years has been, “hurt, not injured.” We have a lot of hurts. Bruises, cuts, bumps, and blood…..almost daily. LOTS of hurts. Fortunately, we’ve avoided injury, until now.
You Just Never Know
Just a handful of years ago, I was at a high school girls' basketball game cheering on some of my youth group kids. They were playing against one of their biggest rivals, which is always a fun game to watch. It was one of those years where their rival had a really solid team, led by a uniquely talented player. I remember watching that game and thinking, “I bet she’ll have some success at the next level.” My suspicions were right, but I was also so wrong. Not only would she “have some success.”, but she would go on to become the best women’s basketball player in the world. Caitlin Clark, man!
It's Never Too Late (or Too Early)
Young adults have an amazing opportunity when it comes to getting control over their finances. So many things are working in their favor:
Generous Tomorrow, Generous Today
A very common line of thinking I observe with people is this notion of building wealth today…..then being generous down the road (*if/when/after they achieve a yet-to-be-determined level of wealth, income, or other financial achievements to be named at a later date). It’s spoken as if building wealth or reaching a certain status is a prerequisite to generosity. While I disagree with this sentiment, I do think there is one prerequisite to generosity: having a pulse. Tall bar, I know. If we’re breathing, we should be generous…..period. Not IF we have a certain net worth. Not WHEN we’ve achieved a certain lifestyle. Not AFTER we’re attained a certain income. Generous today, wherever you are.
Finance Bros and Tax Refunds
March is my favorite time of year. Warmer weather, March Madness, and arrogant finance bros on social media belittling people for getting tax refunds. “You just gave an interest-free loan to the government!!!” “What was the opportunity cost of those lost paychecks!?!?” “Screw the man!!!”
"But What Certifications!?!?"
I’ve shared this story with a handful of people, each of which who voiced their displeasure for me not blogging about it yet. So, here goes! A while back I met a couple who was potentially interested in pursuing a coaching relationship with me. When I asked them how they found me, they explained how multiple people in their lives have shared how their work with me has been transformational in their life. I’m always grateful for these stories, though I always feel like I get too much credit.
To Be Or Not To Be (Your Own Boss)
Yesterday, an interesting and unexpected topic came up in my high school money class. A few students mentioned wanting to someday start their own businesses. This is when another student made a few counter-cultural comments. She expressed her confusion about why so many people want to run their own businesses, citing their typical lack of enjoyment and lack of skillsets in the area of actually running the business. Many students were quick to defend the be-your-own-boss concept, citing freedom and control as primary reasons.