The Simplicity of Simple

I was recently sitting in a coaching meeting with a couple when the wife made a proclamation about her husband. "It changed him. I've never seen him less stressed about spending money." Wow, what was "it?" What's the magical secret that caused such a dramatic shift in this man?

Truth is, it's something simple. The best, most impactful ideas usually are. Set up a separate savings account specifically for travel. Call it "travel fund." Budget money for travel each month. Physically move said money into the travel fund. Travel. Feel zero guilt. I told you it was simple! It's literally the simplest idea in the world, yet oh so powerful. When we set aside money for a specific use and clearly name it, we're able to let go of the guilt. Why? Because that's what the money was supposed to be used for. There's no second-guessing, asking, "Can I afford it?", or playing the there's-a-more-responsible-thing-to-do-with-this-money game. It's the simplicity of simple.

The entire financial industry endeavors to take simple things and make them complicated. It's a great way to justify your existence and create everlasting demand for your products/services. Meanwhile, I firmly believe we should be doing the opposite: making complicated things simple. Or better yet, making simple things simpler.

This is the key to true literacy and widespread adoption in any field. If we pursue the art of simple, we can better connect with those we wish to serve. Not because we think people aren't smart enough, but because they deserve to have it delivered in the most effective and efficient means possible. Whenever people tell me I make things too simple, I say, "thank you."

If you're struggling with finances, simplify. Less (or no) credit cards, combined finances with your spouse, streamlined processes, automated payments/transfers, consolidated investment accounts, rounding transactions instead of obsessing about every penny (this one makes accountants sweat), and a cushion in your checking account so you don't have to freak out about the house payment coming out before the paycheck is deposited. Simple tweaks, powerful results.

It's the simplicity of simple. Here's my challenge for you today. Find one area in your financial life that you can simplify. Just one. One tweak or modification that will make it easier, quicker, or more enjoyable to manage your finances. Have an awesome and simple day!

Simple, But Hard

When talking to friends and acquaintances throughout the course of life, I regularly hear criticisms and complaints about financially irresponsible people in their life. Maybe it’s their grown child, neighbor, sibling, friend, or colleague. Since I’m the guy who helps people with money, they perceive me as a good outlet to vent these frustrations.

On one hand, I completely get where they are coming from. We should handle money better…..and doing so is simple. However, just because it’s simple, it doesn’t make it easy. I believe personal finance is really, really simple, and really, really hard. Telling someone in your life to “do it better” is a fool’s game. That would be like me unsuccessfully trying to rotate the tires on my car and having my mechanically inclined brother-in-law tell me to just “do it better.” It may be simple, but it’s hard. I was never taught, so how would I know how to do it?

But here’s where it gets beautiful. If I desire to learn how to rotate tires AND my brother-in-law is willing to teach me, I too will learn the art and science of rotating tires. It’s simple, but hard.

Finance is the same way. If there are people in your life who struggle with finances and have the desire to get better, you have the power to teach them or connect them with the resources that can. It’s simple, but hard.

If you’re looking for a cheap and simple resource, we have a podcast. It’s free, it’s good (I’m totally biased), there’s a ton of content (170+ episodes), and its packaged in succinct 10-15 minute bites.

The Choice

I didn’t set out to plagiarize my close friend and mentor Dr. Gary Hoag’s amazing book, The Choice, when I started writing this post……but here we are. Sorry, Gary! Rather, I was contemplating a text I received from a friend this morning. After some back-and-forth regarding a few of my recent blog posts, I asked him a question: “Which topics/components do you think resonate with people?” He responded with “There’s a desire to make a difference, but a feeling that you have to either get paid to work for the man, or make a difference and be a struggling artist type.”

As I’m sitting in my office pondering these words, I look down and spot my copy of Gary’s book sitting before me (see, Gary, I am reading your stuff!!!). Two simple words in big, bold white letters, “The Choice”, scream right off the cover of the book and into my periphery. We make choices every day. We choose what to wear, what to eat, who to spend our time with, what podcasts to listen to, and what NBA superstar jersey we’re going to buy our toddlers next (just me?). But there seems to be this HUGE choice that lingers over all of us, every single day. The choice of what to do with the majority of our waking hours. The choice of how we are going to use our talents and passions to make an impact. The choice of where our life’s energy will go. Such a huge choice!

As I’m considering my buddy’s words about this choice, I thought back to a very intense conversation I had with Gary over FaceTime last year. I was teetering back-and-forth on the idea of leaving my awesome career to do something totally crazy. It was one of those days where the self-talk was thick. “What are you doing!?!” “You’re going to fail!” “Don’t be irresponsible, you can never make a living doing what you want to do.” Every insult possible was hurled my way…..by my own mean self. I did what I always do when the self-talk ramps up……I engage a trusted mentor. This was one of those I-remember-exactly-where-I-was-when-it-happened kind of moments. I distinctly remember shouting at Gary - in my doubt and frustration - “Yeah, but what I’m thinking about doing hasn’t even been legitimized. There’s no proof this will actually work.” Gary smiled and responded (too) calmly, “Only God gets to decide what’s legitimate.” Thus I started chewing on the slice of humble pie Gary was serving up, piping hot!

One of Gary and I’s many Asian adventures!!

Fast forward several months, I left my career, took a 90% pay cut, and set out to build a new career. Nine months later, I’m able to support my family financially, the business is growing, and I’m already dreaming about what’s next. I often think back to that conversation with Gary and his virtual slap in the face. He was right! Had I not listened to him, and instead listened to my self-talk and the culture around us, I would have made a different choice. I would have chosen “normal”, safe, predictable, and comfortable. Instead, I chose uncertainty, impact, trust, and purpose.

Here’s an interesting thing about this choice, specifically the two options laid out by my friend. We don’t actually have to choose between “getting paid” and “making a difference.” Though I took a 90% pay cut, there’s a legit chance I eventually get to the point where I make as much (or more) in my new career than I did in my old career. If I’m pouring out my passion, using my gifts, serving people well, making an impact, and truly setting out to make the difference I know God is asking me to make, there’s no reason the income can’t follow. That doesn’t drive my decisions and ultimately I don’t really care, but that’s a reality we often don’t think about. It’s not an either/or type of choice. Rather, it’s an “I trust God” or “I don’t trust God” type of choice…….and an “I value money” or “I value meaning” type of choice. Whether we realize it or not, we make these choices every day, as not making a choice is still making a choice.

If I were still at my old job, this week I would have received a pretty sizable bonus. Out of respect for my former employer I won’t disclose what it would be…….but it’s a LOT! A former co-worker asked me a few days ago if this “lost bonus” gives me any regrets. Honestly, no. That money would be nice and could do a lot of cool things, but today my life is awesome and I get to dedicate each and every day to doing cool things. It’s honestly an unfair exchange, in my favor. Giving up a large chunk of money to violently pursue what I know to be God’s calling in my life. Knowing what I know today, in hindsight, it was the easiest decision I ever made.

So as I try to land this plane, here are my top three takeaways about this choice:

• Every day is a new opportunity to make a choice.

• Not making a choice is still making a choice.

• Find a few amazing mentors in life that will build you up, be real with you, encourage you when you need it most, and help you make better choices. We can’t do it alone…..and luckily we don’t have to!

What choice will you make?