We’ve built a cult to money in this country (other countries as well, I’m sure) and cult worship always involves magical thinking and rituals of purification or renunciation. Yes, personal habits can build discipline & self-awareness, which could be beneficial to creating financial soundness and other good things. But in this case, calling them out is right because A) they don’t create financial soundness in & of themselves; and B) there’s a false cause & effect in that thinking that actually could undermine the process of building wealth. Isn’t our object here to assume rational, capable, smart management of our finances? I think the spinning off into personal habits that don’t actually affect our financial reality and even might distract from improving it could be a kind of ego-gratifying escapism - the old Rocky Balboa syndrome of drinking a raw egg every morning to demonstrate our commitment to the mission. 😝 I’m glad you addressed this because it’s happening, ridiculously, all over the Internet.
"ego-gratifying escapism"... There's a line I wish I had thought of when writing this piece... Well put Laura. And yep, the internet is littered with so much of this stuff. Habits are great, but they should be directly tied to your goals and tangibly move you towards them for them to be considered "Success" habits.
We’ve built a cult to money in this country (other countries as well, I’m sure) and cult worship always involves magical thinking and rituals of purification or renunciation. Yes, personal habits can build discipline & self-awareness, which could be beneficial to creating financial soundness and other good things. But in this case, calling them out is right because A) they don’t create financial soundness in & of themselves; and B) there’s a false cause & effect in that thinking that actually could undermine the process of building wealth. Isn’t our object here to assume rational, capable, smart management of our finances? I think the spinning off into personal habits that don’t actually affect our financial reality and even might distract from improving it could be a kind of ego-gratifying escapism - the old Rocky Balboa syndrome of drinking a raw egg every morning to demonstrate our commitment to the mission. 😝 I’m glad you addressed this because it’s happening, ridiculously, all over the Internet.
"ego-gratifying escapism"... There's a line I wish I had thought of when writing this piece... Well put Laura. And yep, the internet is littered with so much of this stuff. Habits are great, but they should be directly tied to your goals and tangibly move you towards them for them to be considered "Success" habits.
Great reminder. Good to read regularly. Mostly in these uncertain times!
Thanks!
Thanks Yvon!
A young couple recently reached out to me for advice on this very topic. Your post will be super helpful for when I meet with them. Thanks!
Awesome! Hope it can help them a little. Feel free to encourage them to subscribe to the newsletter ;)
of course! that goes without saying :-)