Early this morning, I decided this would be the title/theme of my next blog post. Tonight, while randomly watching TV, I stumbled across the show Secret Millionaire. While I have heard of this show, this my first time actually watching and it matched up with the theme of this blog.
For the last several years I have been working with clients to help them better manage their finances and learn to do things differently. The intention is to help them, in many cases, get out of debt and achieve what they really desire with their finances – peace. In doing so, I have found out that there are really only two things money is good for.
Yes, I understand that we have all the needs, and wants, and money helps achieve both of those. But in reality, and coupled with that word “peace”, money is really only good for two things.
1. To Live – In short – your needs. You need money to exist. Housing, utilities, transportation, food, health needs, etc. You can expand that list to include just about anything, but really your needs are your needs. There is a difference in a “want” versus a “need” and we can, most of the time, live without the “want”. Realizing that you have money for your needs will bring about a peace.
2. To Give – In short, the needs of others. You meet people, more than likely every day, but definitely every week who have needs and they are unable to meet the financial aspects and need the help from others. In today’s world, most are too broke to truly help. They help their conscious by donating to a telethon using the old trusty credit card, but that is not really giving. Being in a position to give is very liberating, rewarding and – peaceful.
True peace in our financial lives is achieved when we achieve this position – understanding what money is truly for and using it for those two things. Unfortunately, many take too long to reach this pinnacle in their life – and some never do. Too many, and maybe even you, are just living for themselves at this point in time and can not find the true meaning of what money is for.
In the show tonight, a self-made millionaire from San Antonio was able to spend time with the less fortunate people of his own community. By volunteering, he was able to see what others are going through and the true needs that they had. His happiness was not found in a new home, bigger car, or dream vacation. He found happiness in helping others – others who truly needed help. While he and his family had experienced personal tragedy, they had all that they needed. In the financial position he was in, he was able to give almost $200,000 to local charities that he had lean red had a need.
It is hard to have both, your needs met an the ability to help others, when you are broke. Getting past broke, taking care of your needs, and helping others will allow you to truly see what money is good for.
Outstanding Blog! I’m sharing it with everyone I can think of. Thanks Parkey!
Parkey – interesting. I had a conversation with a Bank VP a couple years ago just after I finished Financial Peace. She couldn’t understand why I would want to give up bank debt – “You can write it off she said” but, I replied, and I’ve been telling others this also – “If I don’t have the debt, I can get the same write off by giving to my church, or charities that I’m interested in.” She had no answer for that.
So many believe that… and your scenario works ALL the time!
Thanks for sharing.