| April is National Financial Literacy Month, and you love to talk about money, but I think it should be called National Financial Intimidation Month. After all, most of us “mere mortals” find personal finance intimidating. And boring. And tedious. |
| Are you done? Besides, I thought you got over that years ago. |
| Being forced to figure out the basics doesn’t make personal finance any more interesting. It’s like getting my teeth cleaned. I know I need to do it, but that doesn’t make it any more enjoyable. |
| Great analogy, especially as getting you even to think you could “do” personal finance was like pulling teeth. |
| Fine, is this where you’re going to remind me how I freaked out when you first mentioned financial statements? Or when you told me that if I could add and subtract, I was qualified? |
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| Actually, it quickly became obvious that a big part of the problem was the terminology, which is why I simplified it. |
| I remember. Especially since you love to tell people how emphatic I was that I couldn’t deal with assets and liabilities until you told me we were going to talk about “what you own” and “what you owe,” and I said I could do that. Neglecting to tell me those were the definitions. |
| My version is technically accurate. But, making it a funny story makes the topic relevant and relatable. And, memorable. |
| Like when you used to ask auditoriums full of eighth graders how many liked math, and only a handful raised their hands. But when you asked how many liked money, they ALL raised their hands! |
| Exactly. The difference is focusing on practical applications versus terminology and theory. Many people will think they are not good at math when, in reality, they are not good at theory. |
| Do you remember when you took the girls and me to Central Market? Back when Natasha was in high school and close to failing math. She had a store gift card and a basket full of items. Sawyer and I watched as the cashier entered each item, and we were betting on how much Natasha would overspend. Instead, she came in slightly under! |
| She seemed to know exactly where she stood. And, was doing it in her head. Which did not surprise me as she was always good with numbers. It is why business plans for bars, not just the creative concepts and drinks, but the numbers, come so easily to her. Natasha often struggled with the supposed “correct order” of the mathematical steps, but she understood the application. |
| But I’ve always thought of math as being very structured. With right and wrong answers. |
| Ok, if something is $7.84 and I give you a $10 bill, how will you figure out the change? And, you cannot use a calculator or smartphone. |
| Easy. Subtract $7.84 from $10. How else would you do it? |
| Add $0.16 to get to $8. Then $2 more to get to $10. I can get to the “correct” answer of $2.16 faster using addition than subtraction. |
| That’s really interesting. When you asked me how to figure it out, the straight-A student in me defaulted to how I was taught to do it. But your approach is a much easier way to get to the same answer. |
| Basic algebra. |
| Don’t even think of going there. But it does explain the trick Mommy taught me years ago about calculating the cost of something with tax. Rather than figuring out what 8.25% of the price was and then adding it to the price, I’d just multiply the number by 1.0825. |
| I doubt Mom realized the mathematical equation behind solving for “x,” but she knew why take two steps when you can take just one. Whether in your head, on paper, or using a calculator. |
| So, just like you made me realize being open to “trying” to do personal finance is about mindset, so is math. Using your logic, why not teach math, at least to those who aren’t into theory, in a practical way? And by using money examples, you also could be teaching personal finance. After all, kids may not like math, but they sure do love money. |
| Mom used to say that I excelled in math because, as a kid. I would substitute “dollars and cents” for “apples and oranges” in word problems. Although, looking back, putting me on a clothing budget when I was in middle school is what probably taught me the most. |
| I still can’t believe you never realized it was intended as a punishment, not a life lesson, until you were trying to explain budgets to me while I was in the midst of my “crisis”. |
| I still can’t believe you never learned about money until you were in your 40s, and it took your husband getting fired. But, the bottom line is that you are never too young or too old to learn. |
| About math. About money. About life. |
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| I know everyone’s always trying to find balance in their life. I thought becoming an empty nester would make that easier, but apparently not. The girls may be grown, but being a mom doesn’t end when your children move out. Between them, Red & Black, and my seemingly endless lists of things to do, I still struggle. |
| And, as I am a die-hard workaholic who admits to not having a life, you think I have the answer? |
| Excellent point. Never mind. |
| However, I do have some suggestions … although I will preface it with, "Do as I say, not as I do." |
| At this point, I'll take whatever help I can get. |
| Sometimes you need to make a conscious effort to stay present. And, by that I mean appreciate what is happening now instead of thinking about what is next. Or, reminiscing about the past. |
| That sounds good, but it also sounds overly simplistic, not to mention highly optimistic. And where would I even start? |
| Easy. It really is as simple as 1 – 2 – 3. |
| Nothing's that simple. |
| 1. SLOW down and look around 2. STOP using your gizmo and consider putting it away 3. GO spend time with family or friends, or steal some "alone time" |
| Actually, that does sound simple. Now I just have to remember to SLOW – STOP –GO. |
| Just imagine a traffic light. Plus, it would have the added benefit of every time you see a real traffic light, it will remind you to SLOW –STOP – GO. |
| I should've known there'd be a car or driving analogy in there somewhere. |
| Throttle on ... |