Burning sensation?
I was often told when I was a little boy, after being given a small amount of money: “Now, don’t let that burn a hole in your pocket.” The implication was that it would not last too long in my pocket. I would spend it as fast as I got it.
It seems that the expectation for a little boy and money was to expect that I would spend it as fast as possible. On something for myself. For me. My desires.
Was I being nudged, unintentionally, to be selfish? Was the nudge acknowledging that I simply could not handle money? Why would my parents do that?
I wonder what my view would have been if I was always admonished, “How much are you going to save?” “How much are you going to give to others?” “How will you help others with your new-found wealth?”
Physical area of life
The physical area of life seems to be the area where we are nudged the most. Where we feel the nudges. Where we can feel being pushed. Physically.
Financial area of life
The financial area of life nudges every other area. For me, I have allowed the financial area to destroy other areas. Jobs, careers, businesses, health, wives, children and places where I have lived have all been influenced by my finances. More accurately, by my views about my finances.
For me, my attitude towards money has been the basis of most of my life. I dropped out of college to buy the pizza restaurant where I was working. I chose to focus on a business and inadvertently encouraged my first wife to nudge me out of the marriage. I chose present pleasure over future economic security. Or so it seems.
Yep, money really does burn a hole in my pocket.
And what did I do?
I created nudges.
Nudges like asking myself questions. “How much are you going to save?” “How much are you going to give to others?” “How will you help others with your new-found wealth?”
It didn’t happen overnight. It wasn’t immediate. A new wife helped me. Others nudged me. I simply grew older. I existed for a longer time. I got a better memory. I asked questions. I remembered the future. I created a compelling future that was worth more than any present pleasure.
I envisioned outrageous fun in the future. I knew what the future could be. I knew what the future would be if I made certain decisions. The nudging was relentless. The questioning.
“What is the wise thing to do?”
“We never plan to mess up our lives, but unfortunately, we never plan not to. When making decisions, we should always ask ourselves, In light of my past experiences, my current circumstances, and my future hopes and dreams, what is the wise thing for me to do?” – Andy Stanley
This one question. This one nudge may be all you need.
The interesting thing about nudges is one nudge may be all you need. History is filled with stories of famous people that were nudged, once. That was it.
One simple, single
nudge.
Money still burns a hole in my pocket. LifeNudges, for me, mean that I keep very little cash in my pocket. For me, a LifeNudge affecting my spending is to ask questions. Questions that keep me on track. Wise questions. Questions that get asked before I consider a purchase. Every time. Everywhere.
It didn’t happen overnight for me. I burned through businesses, relationships, and life. That burning in my pocket consumed more than just my pants.
I now choose a different consequence. I decide intentionally.
Nudge: What piece of financial advice did you last get?
Nudge, nudge: What do you wish you could do better in your financial area of life?