Tao Of The Tethered Coin

Posted by Chris at August 31st, 2007

My wife discovered a link on Yahoo.com to a 20/20 Online piece about “America’s Cheapest Family”. From that, I discovered that they had a book out and searched on it to find their own website. Wow! What a lot of info! These guys really have the Key Behaviors figured out! They truly live the Prime Directive: Live On Less Than You Make. They have the concept that it’s not about how much money you make but about what you do with it. These guys are savers, coupon clippers, smart shoppers, they plan and budget everything. True role-models to those of us still struggling with servitude to the coin. I’ve linked their book in the recommended reading section, although I have to buy and read it myself before it can go into My Library. Still, their site bears looking at. I’ve added them to the Blogroll, but if you are impatient, the link is homeeconomiser.com. You definitely need to check these people out!

…enjoy the ride…

Posted by Chris at August 27th, 2007

I had an enlightening conversation today with a team member in the restaurant. He was showing off his new Apple iPhone, a truly revolutionary device, to be sure. I pulled up this website and we started talking about the philosophies behind financial management. His initial reaction, before he realized we were looking at my blog, was that this was a subject he probably wouldn’t have any interest in. As the conversation progressed, and we delved more deeply into the philosophies I am exploring, I gained some fascinating insights into the fundamentally flawed mindset that most of us operate in regarding money management. However, none of that had anything to do with why I thought the conversation was so enlightening. My focus was completely on his statement that the subject wasn’t interesting to him.

Since money is the symbolic representation of the work we do, and is the means of obtaining the stuff and services and luxuries and necessities we desire, I was astonished to think that he had no interest in it’s management. This young man is a conscientious and diligent team member who does the right thing, all-day-every-day, because it’s the right thing to do. He clearly takes great pride in the quality of the work he does. And yet he spurns consideration of how he handles the symbolic representation of all that hard work. I found that somewhat disturbing. At the same time, it’s a shining example of how most of us think about money.

The conventional wisdom, as handed down to us by “Madison Avenue”, is not to worry about money. Now as a matter of basic philosophy I agree with that statement, but not in the way the advertisers would like for me to do. Modern advertising advises us to ignore financial considerations, because there are simply so many ways to shortcut the money issue. 90 days same as cash, No payments for 6 months, Zero-percent financing. We’ve all heard the mantra. Do the kitchen and the bathrooms and use your card! Well, you can pretend you don’t have a cobra in your bed if you want to. But until you call the animal control people to come remove it, sleeping through the night is going to be an interesting experience.

I also want to be able to stop worrying about money. I want money to be the last thing I think about when I am considering any action. But I think just ignoring the money consideration is foolhardy. Far better, I believe, to plan ahead so that when you reach that point in your journey, you’ve already mapped out a course to avoid that particular shoal or rapid instead of ignoring it and perhaps getting stuck or taking a wild, unexpected ride.

…enjoy the ride…

Posted by Chris at August 26th, 2007

I’ve begun writing a book describing the philosophy of financial management that I am developing. It will lay out seven Core Principles that should lead anyone who will apply them to financial balance and success. It won’t matter if you earn $20,000.00 a year or $20 million. Seeking balance, steering a central course down the river of money, avoiding going to extremes, works every single time, and it’s the only thing that can work.

The object of the process is to allow you to stop thinking about the destination and, thereby, become able to enjoy the journey itself. The old saying goes, “You can’t take it with you!” The destination isn’t important. What is important is that we free ourselves from slavery to the almighty coin, and instead make that coin our willing slave, ceaselessly working hard for us. That’s the symbolism of the Tethered Coin.

As work progresses, I may post updates from time to time. I may even post excerpts and seek input from subscribers to this blog. When the book becomes available for purchase, I will post that information here, as well.

…enjoy the ride…

Posted by Chris at August 26th, 2007

Welcome to my blog, The Tao Of The Tethered Coin. It will serve as a place for me to post my meditations and meanderings regarding the often murky process of getting a tether on my coins. In other words, getting my personal finances in order.

I have come to understand that personal finances is less about money and more about behavior. How we think about money is far more important than what we do about it. Right thinking will naturally lead to right actions, in finance just as in all other areas of life. At the end of the day the only thing you have total control over is the face staring back at you from the mirror. Everything else is flowing down the river just as we ourselves are. Being thinking creatures, however, we do have the power to steer our boats!

Your comments are always welcome, even (especially!) if you don’t agree with me on something. The wise wanderer seeks further wisdom. We’re all on this journey together, after all.

…enjoy the ride…