Your Money Or Your Life

Stay sane in the insane time

So last week, we saw financial news of the historic level. News and blog articles that warn people to prepare for the worst, to have plan B, or C, were everywhere.  (Photo by mygothlaundry)

In the local newspaper, I read about a man, a retired business owner, demanding to cash out $50,000 at the bank. He refused cashier’s check and wanted greenbacks, saying “I don’t trust anything in paper nowadays.”

Did you recognize the two signs of insanity in this story? One, greenbacks is just another stack of printed paper, and I don’t see why it is more reliable than bank checks (within the FDIC insured amount.) Two, far more critically, he is confusing what is really important.

What I learned about money and life in my bank job

My first full-time job in America was with a big bank (now part of JP Morgan Chase) as international banking coordinator. This was a very educational job. I learned the basics of customer service and sales. I also learned a lot about money and life. One lesson was simple and straight: In this country, people get killed for a few hundred dollars. Really. So don’t carry it around if you care about your life.

My department was in a downtown high-rise and the banking center on the first floor got robed a few times a year. Not that we ever had death or injury. The bank would definitely choose lives of its employees and customers over losing some cash, which was usually no more than a handful.

I really hope this man is still alive. With or without his $50K cash. (The news article had his full name and some more personal info, like the company he had, so it would be easy if someone wanted to locate him . . .)

How to stay sane by being aware of what is important in your life

This writing may be showing how sad I was. The US government is printing more and more money, and the value of the dollar is falling (this is why I say greenbacks are no better than bank checks – I bought some silver ETF by the way). But this is not why I am sad. I’m sad because so many people don’t know what is important in their lives.

Life is more important than money. Money is good so far as it lets us enjoy life.

Money comes and goes, which is the only way money makes sense. The greenbacks don’t have any intrinsic value – what it can buy has values. And we buy because we are alive.

So you are alive and reading this post. Beyond safety, what is important in your life? Go ahead and actually write them down. Awareness of what is important in life can keep you sane.

Turn your bad news into blessing in disguise

I’m also starting to think this financial downturn can be a blessing in disguise. I mean, if it lets you review your life and its priorities, you can turn it into a blessing in disguise. We all will die sooner or later, and I believe the value of life is more about the awareness we live with rather than the length of life.

As I write, I’m biting an apple – a new crop, full of sweet-tart smell and juice. This is good. And I have my own business – not because it’s a quick and easy way to make money, not because it’s everyone’s dream to be her own boss, but because I believe in myself and in what I do, and because I like helping people. And it lets me buy local apples. Very good.

Again, what is important for you in your life? And how do you see the financial news?