The Daily Meaning

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Travis Shelton 8/26/24 Travis Shelton 8/26/24

But Not Too Much Success

One of my friends founded a company out of his garage, bootstrapping his way from nothing to a little something. Fortunately for him, countless people were in his corner cheering him on.

After about six months, his new venture had escalated to the point where he was visibly thriving. Fortunately for him, many people were in his corner cheering him on.

Twelve months later, his business grew enough that he could quit his day job and focus 100% of his energy on this new dream. Fortunately for him, some people were in his corner cheering him on.

A few years later, his now full-time business was doing well enough that his family had more financial resources than they ever did when he was in his old career. Unfortunately for him, only a few people were in his corner cheering him on.

There's an old saying that goes something like this: people will cheer you on.....until you reach their level. Then, they want to tear you back down.

Have you ever experienced that? I have, and I suspect many of you have, too. It's a lonely feeling. It's a brutal reckoning when you realize the people you thought were your ride-or-die's were really your ride-until-you-catch-me's.

You're not alone if this hits too close to home. I have countless clients who have uttered some version of the phrase: "You're the only person we can tell this to. You're the only person who will truly celebrate it with us." It's sad, but common.

Never fear, though. These moments are the magnifying class of relationships. This is where you find out who is really behind you, and who puts conditions on the relationship (like that condition that you must do worse than them). It's a tough reality, but a good one to find out sooner rather than later.

Then, here's the good news. You'll find your real people. The ones who have your back no matter what. Lean into them. Embrace them. Treasure those relationships. Oh yeah, and keep going. Do what you believe is right, and don't let the others deter you from the good work you know you must do.

For what it's worth, I got your back. No matter how successful you become, I'm here for it. You winning does not mean I'm losing. It just means I have one more person to celebrate. Go do your thing!

____

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Travis Shelton 8/25/24 Travis Shelton 8/25/24

Encountering the Fork

This is a test, a turning point, a fork in the road. If he ultimately chooses to walk away from something because it's difficult, that could easily become his mode of operation. If something gets hard, quit. If the next thing gets hard, quit.

We have an emergency brewing in our house. In a sudden and unexpected meltdown, Pax confessed that he wants to quit playing the drums. Yes, the same kid who put on this performance just 90 days after picking up drumsticks for the first time.

When I pressed him on the subject, he said he desires to switch to the electric guitar. Not wanting to project my desires on him, I started asking questions to learn more. I still don't have the full story, but in short, his desire to quit the drums stems from frustration from it "being hard."

Uh oh, we have a problem. I'm not concerned about my kids losing interest in a particular activity. After all, as a parent, I can't live my life through them and project my own desires upon their steps. They need to make their own decisions. However, the reason for his desired decision is what concerns me.

Each of us faces these types of tests throughout our journey. We start to gain some success in xyz endeavor, but then BOOM (!!), we hit an obstacle. That's the fork in the road. It's easy to keep moving forward when things are going well. What reveals our true character is how we respond when we hit that fork in the road.

So many of my clients have hit forks in the last few months. Whether they are getting out of debt, trying to hit the next level in their business, trying to lock in their budget, working toward a promotion, or attempting to ramp up their investing/savings game. My job isn't to merely cheer them on, but rather to prepare them for when (not if) the fork comes. The fork always comes. It's inevitable. When those forks hit, their next few steps will be critical.

As I reflect on my journey, I'm so grateful for the times younger me pushed through these obstacles. Who I am and where I'm at is a direct result of those decisions. On the flip side, I have many regrets from times when I didn't push through. Like Pax, I wanted to quit.....and I did. I so badly wish I could get a do-over on some of those decisions.

Only time will tell if Pax will persevere. If he does, it will build a ton of character and be a tell for what might come. If he doesn't, well, that could be a different kind of tell. I'll be praying for him, providing guidance, and encouraging him every step of the way. Please pray for me, too!

It's easy to talk to the talk, but some of us adults need to walk the walk. Our kids are watching. If we quit, why shouldn't they? Let's show them what to do with these forks!

Travis Shelton 8/24/24 Travis Shelton 8/24/24

We’re Nobodies

This is how business should be done. It's not about supporting them. It's about them earning the right to serve someone (through some form of marketing), re-earning the right to do it again (through excellence), and, if they are excellent enough, having those customers tell the others (word of mouth).

"We're nobodies!" is the phrase TJ and I often use when discussing Northern Vessel. Despite having more than 10,000 Instagram followers, waves of people walking into our shop, and long wrapping lines at our farmer's market tent, we're nobodies. It's not that we are self-deprecating or think poorly of ourselves. Rather, that phrase stems from the reality that despite how crazy our business has ramped up these last 18 months, more than half the metro doesn't know we exist (never mind people outside our metro). A week doesn't go by where I don't hear the phrase "I've never heard of it," referring to Northern Vessel. Thus, we are nobodies. From that perspective comes a rallying motto: "Earn it every day."

This brings me to yesterday. I was at the shop talking to barista Emma about nearby restaurants. She drops a bomb on me! "My favorite place is Alohana Hawaiian Grill. They have the best Spam Musubi I've ever had!" First, I've never even heard of Spam Musibi, and Emma is over here grading the various iterations she's experienced over the years. (For your information, Spam Musubi is a slab of fried spam on top of a white rice block with sauce between, wrapped in seaweed).

Truth is, I've only vaguely heard of this restaurant over the last ten years. I never hear anyone talk about it, and I don't even know where it is. But if Emma says it's her favorite restaurant, and they have the best Spam Musubi (!!!), I needed to check it out. I packed up my briefcase, cut my work short, and set my GPS for Alohana Grill. It was amazing!!! I absolutely loved my meal (including the Spam Musubi) and will be back soon.

I won't be back because I want to support local (you know how much I detest that narrative). I'll be back because they earned it. The staff was friendly, the space clean, the food amazing, and the prices palatable. A+ out of them.

This is an interesting business. On the one hand, they are seemingly lacking on the marketing front. No social media, a lackluster website, and limited public discourse. Yet, on the other hand, there were a ton of people there, Emma is raving about it, and now I'm telling thousands of people all over the world about them.

I woke up yesterday morning utterly naive to this business. It was hiding right under my nose. By the time I went to bed, I had a new go-to. Grateful for Emma's referral and this restaurant's good work.

This is small business.

____

Travis Shelton 8/23/24 Travis Shelton 8/23/24

K.I.S.S.

We recorded an episode reacting to ChatGPT's criticisms of our show. It was a great time! One of the criticisms stood out: "Simplified Solutions: Complex financial problems are sometimes presented with overly simplified solutions, which might not address the nuances of individual financial situations."

I had a great time recording a few podcast episodes with Cole yesterday. As the producer, he rarely appears behind the mic, but it's a rare treat when he does. We recorded an episode reacting to ChatGPT's criticisms of our show. It was a great time!

One of the criticisms stood out: "Simplified Solutions: Complex financial problems are sometimes presented with overly simplified solutions, which might not address the nuances of individual financial situations."

I loved this one.....because it's true. I do, in fact, attempt to make things simple. While some people have truly complex situations, most complicated situations are merely the consequence of people making them complex. People don't intend to make their finances complex, but that's what happens when we don't get a formal education on the topic; we're figuring it out on our own and adding pieces as time passes. If left unchecked, our finances will always become more complex.

For that reason, my first coaching meeting with a client includes mapping their financial life. What lives where, and why. Often, people's financial lives are a complicated web that requires a decoder pin to interpret. Once we get it mapped out, I attempt to re-map it.....but simpler.

Here's an example of a family I recently met with. This is what their financial accounts looked like:

His checking account (from his single days)
Her checking account (from her single days)
His savings account (again, from single days)
Her savings account (again, from single days)
Joint checking account
Joint savings account
His current 401(k)
Her current 401(k)
Her former pension
Her old 403(b)
Her old 401(k)
His old 401(k)
His other old 401(k)
His other other old 401(k)
His other other other old 401(k)
His other other other other old 401(k)
Her old brokerage account that a family member set up for her
His Roth IRA that he started when he was in college
His Robinhood account, where he trades stocks
Her whole life insurance policy that was set up when she was a baby.

That's not even all of them, but I'm tired of typing and you're probably tired of reading. See what I mean? It's complex, and unnecessarily so. There's a lot going on. In order to get right with their money and not have it suck the life out of them, they needed to simplify. Here's where we landed:

Joint checking account (all income and expenses run through it)
Joint savings account (emergency fund)
His current 401(k)
Her current 401(k)
Her new Traditional IRA (where we rolled her former pension, 401(k), and 403(b) into)
His new Traditional and Roth IRAs (where we rolled all his old 401(k)s and Roth IRA into)
Their new taxable brokerage account (where we rolled her old taxable account, his Robinhood, and the proceeds from her canceled whole life policy)

Without anything inherently changing in their financial lives, they felt freer. It was simple. The money was invested well. They had fewer logins. They knew where everything was. They understood its purpose. It was simple.

Simple is good. When in doubt, simplify. Then, simplify some more.

Travis Shelton 8/22/24 Travis Shelton 8/22/24

Being Responsibly Irresponsible

On the one hand, I repeatedly beat on the drum of values-based spending, investing in memories, and finding meaning in our finances. Then yesterday, I leaned into this idea that we shouldn't impulsively spend "extra" money that comes into our lives. Instead, we should apply all extra income to wherever we are in our plan. See the possible incongruency here?

As is the case most days, I opened my Daily Meaning e-mail inbox yesterday to find a message from my friend Randy. Randy consistently responds to my blog posts, including words of encouragement, a representative story, additional wisdom, or alternative perspectives. Yesterday's was a bit different. He pointed out that some readers might find yesterday's post (about not impulsively wasting extra money) incongruent with my typical message of using money on "spending for memories and meaning." He didn't personally find it incongruent, but he suspected others would......and he was right. I subsequently received a handful of questions and responses indicating such.

Here's the bridge for this perceived gap: responsibility and intentionality. It all comes down to those two things. If we don't take responsibility for our finances (pay for needs, save for future expenses, and give), our finances get disjointed.....and stressful! Yes, we should use some of our money for fun and memorable things. However, having our financial ducks in a row is a must. If we're behind on rent, can't put food on the table, and the utility companies threaten a shut-off, we probably shouldn't be dumping our money into lots of wants (today). We need to solidify the foundation. Responsibility is critically important!

Second, intentionality. As I often mention, I don't personally care where you choose to allocate your money. People have different values, priorities, passions, and situations. It's inevitable that your "right" is different from my "right." Here's the second part of my slogan. I don't personally care where you choose to allocate your money......as long as it's intentional. It's planned. It's purposeful. It fits within the context of our broader finances. With intentionality comes peace; with impulse comes regret.

Three of my clients recently traveled to Europe for some epic summer trips. Believe me, I've been living vicariously through them all summer!!!! The pictures are beautiful, and I suspect the memories are much sweeter. Each of these trips cost them anywhere between $6,000-$14,000. That's a lot of money, but they put a ton of intentionality into it. Some of these families have been saving this money for years. Month after month after month of saving. Then, the planning. They got the flights, then the hotels, then started filling the days with museums, trains, tours, and restaurant reservations. So much intentionality! By the time the trip arrived, they had zero financial stress and, carried themselves confidently, knowing their overall finances were intact and thriving.

Let's call this living responsibly irresponsible. Do the things other people judge you for. Make them roll their eyes. Let them question your sanity. But behind the scenes, do it with much intentionality and responsibility.

____

Travis Shelton 8/21/24 Travis Shelton 8/21/24

It’s a Slippery Slope

See the problem here? Whenever we treat something as "extra" or "different," we undermine our finances and marriage. We go from "ours" to "mine." From "being responsible" to "screw it." It gets muddy.

In yesterday's post, I referenced how money is fungible. All there is is money in, and money out. This money doesn't go here, and that money doesn't go there. We have income, and we have outflows. Period.

Typing that reminded me of a situation that played out early in my marriage. Sarah and I were in the midst of our journey to pay off $236,000 of debt (it sucked as much as you're thinking). We each received a little personal spending each month, plus a few other fun expenses like modest dining out and travel. Then, every other excess dollar we had went toward the debt.

One day, Sarah decided to add a part-time nannying gig to her schedule. As we ate dinner, she started verbally processing what she might want to do with this extra income. Maybe clothes. Maybe nails. So many fun options!

That's the moment, mister fun hater (me), stepped in. I shared with her that money is fungible and, as such, this extra income had to be two things:

Ours, not hers.
Included in our budget.

She was noticeably annoyed with me. After all, she was the one working extra hours to earn this extra money.

She explained that our paychecks were our budget money, and this new income was "extra." (You know what we do with extra, right?) And since it was extra, it should fall outside of our budget and she should be able to do anything she wants with it.

Me: "Oh interesting. In that case, I'll have to figure out what I want to spend my annual bonus on!!!!"

Her (even more annoyed): "Your bonus is part of your work, so it's different." (I'm paraphrasing here, as I don't remember her actual comment)

Me: ......

See the problem here? Whenever we treat something as "extra" or "different," we undermine our finances and marriage. We go from "ours" to "mine." From being intentional to "screw it." It gets muddy…and messy.

Sarah eventually saw my point. I was grateful for her desire to work harder to help our young family dig out of a hole, but income is income. Ultimately, here's where we landed. We included her nanny income in the budget as income, juiced up her personal spending a bit, and added the to the debt paydowns. It was a win-win.

It's a slippery slope to treat money as anything but fungible. All there is is money in, and money out. Remove impulses. Take out the bias. Don't undermine your relationship. Don't sabotage your finances.

We've never had an issue with that topic since that day nearly 13 years ago. I may make 99% of our family's income, but it's "ours." Never "mine." Never. Don't fall down that slippery slope!

____

Travis Shelton 8/20/24 Travis Shelton 8/20/24

Let Blessings Remain Blessings

What do you typically do if you receive unexpected extra money? If you're a human (and I suspect you are), there are two typical outcomes.

I opened the mail yesterday to two unexpected blessings: two checks I never saw coming. I'm not talking about massive amounts of money here—$250 and $100.

What do you typically do if you receive unexpected extra money? If you're a human (and I suspect you are), there are two typical outcomes:

The most common outcome is to simply blow it. It's extra, and most of the time, we don't respect those extra blocks of money. It will likely be impulsively spent before the check even clears.
The second most common outcome is to dump it into a general savings account, which will be hoarded in the near term and probably impulsively spent at some point in the future.

I prefer to let blessings remain blessings. First, I don't actually care what you do with it. Whether you spend it, save it, or give it is not what's important in this conversation. Here's what I do personally, and it's how I coach it every single time:

Add this as income to your budget. If it's money coming in, whether it's a $100 reimbursement check or a $10,000 bonus, it's income. Add it to the budget as such.
Once it's in the budget, you have $x more in the budget than you did before. Let's pretend it's $200. You add the $200 as income to your budget, giving you $200 more to allocate somewhere in the realm of spending, saving, or giving. Treat it as you would any other $200 in your budget. $200 is $200.
As such, allocate this money in accordance with your current plan. If you're in the midst of paying off debt, pay off more debt. If you're saving for a big trip, save more for your trip. If you've been working on a financial gift to your favorite organization, give it.
Execute the plan. If you say you're going to do something, do it. After all, you promised yourself in your budget. Own that. If you plan to buy a new espresso machine, buy the machine! If you plan to pay off that credit card, pay it off! Don't break your promise to yourself.....or your spouse.

That's the thing about money, it's fungible. All there is is money in, and money out. The moment we try to say this is for that, and that is for this, we've lost the plot. Instead, look at everything as one big puzzle. When we do that, we develop a much healthier and more productive relationship with our money. No guilt, no emotional strings, no sense of obligation. Just wisdom and discernment.

As for us, August has been a kid-expense-heavy month. Activity fees, school supplies, new shoes, and end-of-summer fun have drained that category quickly. I suspect Sarah and I will pad that category with this unexpected windfall. That's our current reality, and we'll live into that.

Meet your money where you are. Don't waste these little (or huge!) opportunities. Let your blessings remain blessings.

____

Travis Shelton 8/19/24 Travis Shelton 8/19/24

The Irony of Sudden Wealth

I've had the privilege of spending time with a few dozen people who became very rich, very quickly. I'm talking rich rich. Buy anything you want rich. Never worry about money again rich. Each person's story varies, but there are a few common triggers for the sudden wealth: professional athletes, lottery winners, inheritors, and founders.

"What's the point, man?!?"

On the surface, we look at these people with jealousy and hope that someday we will be as fortunate as them. That feeling is what causes tens of millions of Americans to play the lottery each week: the mere chance to strike proverbial gold.

More often than not, however, being suddenly wealthy isn't all it appears from the outside looking in. It's called Sudden Wealth Syndrome. It's a psychological condition that manifests in a number of different ways, including isolation, paranoia, addiction, and hangers-on.

But there's one Sudden Wealth Syndrome manifestation I want to lean into today: loss of meaning. Think about your life. You probably have to go to work, make money, and pay for your family's needs and wants. When you wake up in the morning, you have a purpose and a goal. If you serve people well, you are rewarded. If you don't, well, that's not a fun road. Whether you love your work or hate your work, there's still purpose behind it.

People with extravagant wealth, however, don't have that embedded purpose in their life. Oftentimes, their life is like a boat without a rudder. A very large, flashy, and expensive boat, but without a rudder nonetheless.

"What's the point, man?!?!" my friend loudly exclaimed, in a tone full of anguish and frustration. On the surface, this man is the winner of winners. Due to recent circumstances, he found himself in a reality he could only imagine in his dreams. He had tens of millions of dollars, with a high likelihood of tens (or hundreds) more.

Until recently, though, his life looked much different. He was ambitious, hungry, and had big dreams for himself. He had a rock-solid work ethic and a motor to achieve. He was happy! Then, it happened. The money happened. Practically overnight, he would never worry about money again for the rest of his life. He bought a house for himself, one for his parents, another for himself, a couple of cars, a bunch of toys, and a new wardrobe. He looked the part.

"What's the point, man?!?!" Despite having it all, he suddenly felt empty. When he woke up in the morning, there was no purpose, no mission. He could literally lay in bed, all day, every day, for the next 200 years and never run out of money. He had everything, and he had nothing.

He wanted to talk about money, but I wanted to talk about work. Whether we like it or not, work that matters matters. The science continually points to work being one of the primary drivers of happiness and fulfillment in humans, yet we spend the bulk of our adult lives trying to escape work. I find it ironic.

I'll share more about this friend in the near future, but I'll give you a little teaser: he got a job. The old him is back. He's really rich, still, but he has meaning and purpose.

Interesting.....

____

Travis Shelton 8/18/24 Travis Shelton 8/18/24

“Throwing Away” a Career, Revisited

I'm grateful for my friend Anna, and I deeply admire how she took the path less traveled. It's not been an easy journey, but so many people have been blessed by her contributions to their lives.

It's 2:30 AM. Sarah and I just pulled in from a 10-hour drive after visiting our best friends, Ryan and Anna. It feels like my brain is melting onto my laptop keyboard, as I single-handedly drove the entire 10 hours solo (Sarah failed to learn how to drive a stick over the last few days.....shame on her!). We intended to drive six hours today and then do the remaining four in the morning, but we got ambitious.

We had a wonderful time with Ryan and Anna. It ended up being 42 total hours together (including two nights of sleep), but it was jam-packed with laughter, memories, food, and good conversation......and Twenty One Pilots!

- I'm definitely kneeling in this picture.....

Given how much time I had to think during the drive home, my mind went in many different directions. Eventually, I found myself thinking back to an article I wrote more than four years ago. It was about Anna, but more specifically, about her counter-cultural career shifts. First, her decision to forego her WNBA career, and second, her decision to leave teaching to pursue her current calling. You can find the article here! While refueling at a gas station, I pulled the article up on my phone. A few thoughts rattled around my dreary, melting brain:

Having written more than 800 articles since that one, I cringed a bit at my writing style and structure. It shows the power of repetition and consistency.
It's fun to see how, even then, my perspective of work and meaning were quite similar to today. The phrase "meaning over money" hadn't yet been coined, but the values were loud and clear.
Given the benefit of time, it's so fun to see how Anna's career shifts (or "thrown away" careers) have shaped her and impacted countless people.
Nothing is wasted, indeed!
Pursuing the type of journey that Anna did is far harder than we can imagine, but simultaneously more fulfilling than we can anticipate.
Knowing what I know now, I'd double down on encouraging Anna in her controversial career shifts. I'd also encourage younger me to double down on this message.
While I never took my relationship with Ryan and Anna for granted, I look back and wish I had squeezed every ounce of goodness from it I could while we lived near each other.

I'm grateful for my friend Anna, and I deeply admire how she took the path less traveled. It's not been an easy journey, but so many people have been blessed by her contributions to their lives. Someday, I hope she gets a window into some of that impact. Her legacy will have ripple effects, for sure.

I hope you're having a wonderful day, and I hope I'm still sleeping when you read this!

____

Travis Shelton 8/17/24 Travis Shelton 8/17/24

Your Pain Has Purpose

For two straight hours, Tyler Joseph ripped his heart out of his chest and splayed it out before a crowd of 21,000 rabid fans. I've seen him do it before, but it never ceases to amaze me. This man, like all of us, has his demons. Pain, suffering, tragedy, and ongoing anguish. He's broken, just like you and I. However, what sets Tyler apart is the fact he takes the darkest and most embarrassing pieces of his being and uses them to impact the world.

Just a few hours ago, I walked out of the Twenty One Pilots concert. It's the first stop of their new world tour, and wow (wow!!!), what an amazing experience!

For two straight hours, Tyler Joseph ripped his heart out of his chest and splayed it out before a crowd of 21,000 energetic fans. I've seen him do it before, but it never ceases to amaze me. This man, like all of us, has his demons. Pain, suffering, tragedy, and ongoing anguish. He's broken, just like you and I. However, what sets Tyler apart is the fact he takes the darkest and most embarrassing pieces of his being and uses them to impact the world. Their shows are an exploration of faith, pain, perseverance, and the celebration of life. Last night was no exception!

It reminds me of listening to Joni Eareckson speak at the Global Leadership Summit last week. If you're not familiar with Joni, her life became a national news story in 1967 when, at the age of 17, she experienced a tragic accident while swimming with some friends. She inadvertently dove into shallow waters and became paralyzed from the shoulders down. In the following years, Joni harnessed her pain and unwelcomed circumstances to champion the creation of the ADA (Americans with Disabilities Act), write more than 40 books, and become a lifelong advocate for more than a billion people who experience life with disabilities.

Joni's talk was one of the most moving things I've ever witnessed, and she received no less than four standing ovations. I spent the better part of 40 minutes with tears in my eyes, witnessing this woman pour out her soul before a room of strangers. "God uses our weaknesses to impact His kingdom," she exclaimed. Her humility and grace, despite all she's accomplished, stood out like no other. There were a million different people who had more influence, more experience, more smarts, and more skills who could have led this movement. Yet, in her words, God used a young woman, fresh off tragic, life-altering circumstances with no experience or influence, to create change in this world.

As I think about Joni's life and ministry, and continue to marvel at what Tyler does to impact millions of people, I keep coming back to the idea of pain and weakness. Our pain and weaknesses aren't something to hide from. We don't make a difference despite our pain, failings, and weaknesses. Rather, it's those unsavory parts of us that fuel us and have the ability to create a profound impact on this world.

I'll end with a confession. There are days that I'm nervous about hitting "publish" on this blog and our podcast. I share things I don't want to share. I expose myself when I could just bury it. However, deep down, I know that my pain, failings, and weaknesses are the tools with which I can make an impact.

The same goes for you......

____

Travis Shelton 8/16/24 Travis Shelton 8/16/24

The Verdict Is In

"How's the midlife crisis treating you?" asked my friend Emma as I was getting out of my new (to me) 2006 Nissan 350Z. "It's going fantastic! Thanks for asking," I responded.

"How's the midlife crisis treating you?" asked my friend Emma as I was getting out of my new (to me) 2006 Nissan 350Z. "It's going fantastic! Thanks for asking," I responded. Emma, man! Always busting my chops!

This week marks the five-month mark since pulling the trigger on this car. Oddly enough, until yesterday, Sarah had only spent a grand total of five minutes in it. Then came yesterday. We did a 10-hour road trip to visit some of our closest friends and experience the opening night of Twenty One Pilot's new tour. Sarah and I had a blast. The top was down, the sun was up, the weather was beautiful, and the Twenty One Pilot music was blaring. The only negative is that Sarah can't drive a stick shift, so she gleefully allowed me to drive the entire 10 hours in one sitting (while she endured multiple sun-soaked naps).

The verdict is in. After five months of driving this car and 10 hours cruising across multiple states with Sarah, I can confidently testify that, besides some of our giving, this was the best $9,000 I've spent in my life. I waited 17 years to purchase this car, and it's lived up to every ounce of anticipation I could have ever imagined (and more).

I didn't need this car. There were more "responsible" things to do with $9,000. An investment in the stock market would have yielded a far better financial outcome than buying an 18-year-old car that will only go down in value. There are surely better financial decisions besides buying a fun car.

All of that is true, yet this one was one of the best decisions we've ever made. Why? Because not everything is about money. The amount of memories I've already made with this car is staggering. The boys love hopping in and cruising our town. They know exactly what songs they want to play. They know what ice cream shops to direct me to. They eagerly anticipate one-on-one time with their dad. It's not about money; it's about something much bigger.

No, we don't need money to create memories. Memories are free. However, I'm so glad I chose to spend this $9,000 on this car. After 17 years of waiting, it seems like a fitting and poetic end to the story. Had I purchased it 17 years ago when I was a young single guy, it would have been cool.....but not this cool. Instead, I get to road trip with my wife. I get to have jam sessions with my sons. I get to let friends and youth group kids borrow it. It's so much more than money.

I hope you have your version of this. If you don't, I encourage you to find it. Don't make it about money. Don't obsess about making the right financial move. Make a decision that bends in favor of meaning. Create those memories! You won't regret it.

____

Travis Shelton 8/15/24 Travis Shelton 8/15/24

An Avalanche of Circumstance

Anticipating widespread backlash from yesterday's post, I tentatively knew what today's topic would be. The pushback was indeed harsh! It's the exact type of harsh I was expecting, though.

Today, I bring you the story of Jeff. That's not his real name. He wants his story shared publicly, but anonymously for now. He and I have been talking about bringing him onto the podcast, but he's wavering. In the meantime, his story will live here.

For the last 8-ish years, Jeff has been one of my biggest critics whenever I discuss how credit cards are bad for us. He's become quite aggressive with me at times, even calling me stupid and openly mocking me in group conversations. Jeff, in his late 40s, is a known entity in the finance world.....at least in his niche. He's the kind of guy that will get mic'd up at a conference and discuss complex finance concepts in front of hundreds of fellow finance professionals. Jeff knows finance, and has been doing it for a long time.

I'll summarize Jeff's frequent pushbacks whenever I appeal for people to get rid of their credit cards:

It's an interest-free loan as long as you pay it off within 30 days.
The points are amazing! He's known to send me pictures of his vacations to poke at me about how this flight or that hotel was free because of points.
In his words, he had never paid one cent of interest or one late fee in his entire life (perfect 30-year track record!).
It's about personal responsibility. If you're responsible, you're good. Credit card debt is an outward expression (and natural consequence) of irresponsibility.

Recently, I received a text from Jeff; he wanted to meet for coffee. When I walked into the mostly empty shop, I saw him sitting in the corner. His shoulders were uncharacteristically slumped, and his face was expressionless. I could immediately tell something was wrong. We shared a few pleasantries, but I sensed he just wanted to get to the meat of the conversation.

As he put it, he and his wife had experienced an "avalanche of circumstance." One of their kids got sick, their septic system went haywire, his wife had her hours cut at work, a car was having trouble, oh yeah, and rampant inflation. As these events were unfolding, he did was he always did: put everything on the credit card. They make good money, so he planned to just make it up next month. Or maybe the month after. Shoot, maybe soon. The emergency fund was quickly drained, as were other sources of liquidity.

The result? After 30 years without a single cent of interest or fees, he had $23,000 of credit card debt and no idea how to navigate it. Mere months ago, he was mocking people for "irresponsibility," and now he was on the other side of the aisle. He was sick and embarrassed.

These are scary times for Jeff and his family. He now understands when I say, "Credit cards are great....until the moment they become your biggest nightmare." They are the path of least resistance and the gateway to quick, rash, and destructive decisions.

Jeff isn't alone. He's the face of our growing credit card crisis. To be continued....

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Travis Shelton 8/14/24 Travis Shelton 8/14/24

Blood Points

"Just be responsible."

"It's a tool."

"It helps you build credit."

"It's safer."

"Take advantage of the points."

Not a day goes by when I don't get an earful about the awesomeness and wonder of using credit cards. Based on the narrative, you'd think they are magical little miracles, changing lives for the better.

According to the most recent data released for the second quarter of 2024, 50% of credit card holders in the U.S. now carry a balance from month to month (i.e. they don't pay them off every month like everyone says they do). HALF of all U.S. citizens who use these wonderful little tools are now stuck with high-rate debt that's bearing down on them. So much for "just be responsible."

Moreover, the average American now carries an average credit card balance of approximately $8,000. With an average interest rate of 24.9%, it costs an average of $166/month just to pay the monthly interest (never mind paying off the growing balance).

Yet, we're just going to ignore these facts and instead brag about the awesome trip we just took on the back of the sweet credit card points we recently earned. It's ludicrous, and this insane narrative is sending millions of Americans down the financial toilet.

Just in the last week, I've sat with multiple couples who are emotionally and mentally broken by consumer debt. Their entire lives, they were told to build credit and collect the free points. Instead, they now sit with thousands of dollars of debt they have no idea how to pay off. They are scared, angry, and confused.

Seemingly, everyone in their lives advocated for them to introduce these little plastic cards into their finances. Their parents told them to do it. Their co-workers told them to do it. Their friends told them to do it. Social media "experts" told them to do it. Now, after a series of unexpected events (which can always be expected), they are left holding the bag. Meanwhile, the rest of society now has the privilege of pointing at them, saying, "You should have been more responsible."

Collectively, we are heading down a very dark financial road. You may not see it (yet), but it's happening as we speak. I hope you don't fall victim to it, but I guarantee someone you know will.

So what's the alternative? Opt out. Say no. Stay away. Turn your back on normal. We don't have to play our culture's games. Sarah and I haven't owned credit cards in nearly 15 years. We're good. Life is simple. Not easy, but simple. There is life on this side of credit cards and consumer debt. Don't play their games, and please, please, please don't advocate for your kids to play the games. You deserve better, and so do your kids.

You got this, guys!

____

Travis Shelton 8/13/24 Travis Shelton 8/13/24

Don’t Stop Celebrating

Oh yeah, don't stop celebrating. In the midst of all the bumps in the road, don't forget to celebrate.

Speaking of cars running into coffee shops, yesterday's post instantly took me back to the hours and days immediately following the second car crash incident in May. There were so many emotions flowing through me during that time. On the one hand, I was celebrating how amazing Northern Vessel was doing, but on the other hand, mourning the crash. On the one hand, I was excited to be showing my kids around the great city of Chicago, but on the other, stressed out of my mind by all that was happening.

In the midst of that, I wrote a piece titled Can't Have the Good Without the Bad. It was a cathartic piece about pain, survival, and perseverance. More than anything, it was my attempt to process the myriad of emotions I was experiencing.

Later that day, I received an encouraging text from my friend John, offering his support, love, and encouragement. He ended his text with this: "P.S. - and in the midst of all of this at the coffee shop, don't let this bump in the road keep you from celebrating and retelling your memories and stories from Chicago specifically today, tomorrow, this coming next week. Lean into that and intentionally continue the Chicago memory building this coming week."

The truth is, I did let the crash keep me from celebrating and retelling my memories from that Chicago week. Shame on me! I've thought a lot about that text and ultimately landed here: better late than never!

So today, my friends, I want to share a quick story. I had the honor of taking my boys to their first-ever Chicago Cubs game at Wrigley Field. They are the same age I experienced my first Cubs game (and I'd go on to visit Wrigley Field at least once per year for the next 23 years). I even booked tickets in the same general area where we sat during my first Cubs experience way back in the late '80s. As we were casually shopping for souvenirs, one particular item caught Pax's attention. It was a little wooden bat, painted in a glossy Cubby blue. He instantly fell in love. After we pulled the trigger and were walking into the stadium with new bat in hand, I revealed to him that my souvenir for my first Cubs game was a little blue wooden bat!

Everything about that night was magical. I really can't even explain how much fun all four of us had. To top it off, we got to experience extra innings under the stars. As the Cubs stepped to the plate in the bottom of the 10th inning, my gut told me to pull out my camera to record. I'm usually the guy who would much rather soak in the moment than pull the camera out, but this one felt different. In hindsight, I'm so glad I did. I'll never forget this moment, and it's fun I get to show it to you today. Enjoy!

Oh yeah, don't stop celebrating. In the midst of all the bumps in the road, don't forget to celebrate. Wise words from John. Thank you, John!

____

Travis Shelton 8/12/24 Travis Shelton 8/12/24

No Such Thing As Normal

But that's the thing about "normal." I'd argue that "normal" doesn't really exist outside the perfect little scenario we construct in our imagination. Whether we like it or not, reality is anything but that stable and uneventful concept of "normal" in our brains.

Today is a special day—happy one-year anniversary to the first car that ran into our Northern Vessel coffee shop! If you think my use of the word "first" implies there might be multiple, you'd be correct. Here's what happened:

On the afternoon of Saturday, August 12th of last year, toward the end of a busy day at the shop, a car plowed through our front window. Four people were nearly killed, including two of our full-time employees. Luckily, the injuries weren't severe. We shut down for three days to clean up the blood, glass, and wreckage before re-opening a severely-impaired shop.
For multiple reasons, it took more than seven months to repair the damage and bring a fully operational shop back to life. We were beyond excited when that happened on March 24th of this year, and we were grateful to be back to "normal."
Then, I'll never forget the pit-of-my-stomach feeling I experienced on the morning of May 22nd. I was in the middle of an awesome post-school family vacation in Chicago when I woke up to a text from TJ I prayed I would never see again: "A car ran into the building." And just like that, our lives were turned upside down again. We closed for three days in total before re-opening our again impaired shop.

As I sit here on the one-year anniversary of the first car crash, we still don't have a fully operational shop. We're getting close. Our front door was installed a few days ago, which really opens up the space. However, we still have a lot of interior work to complete. We'll hopefully be back to "normal" by early September.

To put it another way, our shop has only been "normal" for 59 out of the last 365 days—March 24th until May 22nd. The other 306 days have ranged from chaotic to improvised to compromised.

While it's quite abnormal to have two cars crash through a single shop in a nine-month span, there's really no such thing as "normal." Each month, TJ and I talk about looking forward to a "normal" month of operations, only to be surprised by some unforeseen situation that blows up our idea of "normal."

Every aspect of our lives is the same way, including finances. We can expect and prepare for "normal" all we want, but that's not likely how it will play out. Instead, it might be chaotic, improvised, and compromised. For that reason, we must prepare our lives and finances as if "normal" doesn't exist.....because it doesn't. The car will break down. Someone will get sick. The furnace will go out. You'll lose a job. You'll be blessed with a surprise baby! Something!

If "normal" doesn't exist, perhaps we should start planning and acting like it. When we do, it won't be nearly as disheartening, and we'll be prepared for it!

____

Travis Shelton 8/11/24 Travis Shelton 8/11/24

Memories Are Free: Golden Curry Edition

I've been replaying that sequence of events in my head for more than 12 hours—the sequence of events that played out on my TV and the sequence of events that played out in my living room. I'm so grateful for that time Finn and I spent together, and I hope that memory is as vivid for him as it surely will be for me.

Wow(!!!) is the only word that can even remotely describe how amazing the end of the men's gold medal game was yesterday. With about three minutes remaining, France's run narrowed the gap to a three-point game. The U.S. was playing well, but France, fueled by their raucous home crowd, kept clawing back. Wemby, now just 20 years old, proved he's likely the future face of the NBA. He made play after play after play. Then, Steph Curry steps to the plate. I encourage you to check it out for yourself by clicking this link!

Ok, for the 90% of you who didn't click the above link, I'll explain what happened. Curry drills his 5th three-pointer of the game with 2:45 remaining, stunting France's run. Then, his 6th at the 1:51 mark. Then his 7th, a shot-clock buzzer-beater at the 1:18 mark. Then, in what will inevitably become an iconic moment in the history of international basketball (if not basketball, period), he drills his 8th on two defenders, in heat-check fashion, with 34 seconds remaining to seal the Olympic gold medal. That last one, man! Finn was freaking out, and I instantly had tears in my eyes. The raw emotion and euphoria were surreal. I will never, ever, ever forget that moment.

Memories are free! In a culture that tells us we need to spend hundreds, thousands, or tens of thousands of dollars to create memories, I'm here to remind you today that memories are free. Sure, you can spend thousands of dollars to create a memory. That's perfectly fine, if you have the resources. But money isn't a prerequisite for memories. What Finn and I experienced together cost us nothing other than our presence and our togetherness. The rest took care of itself.

It's so easy to get lost in the idea that we must create these elaborate, exotic, expensive, and Instagram-worth experiences. Instead, the simplest moments can often be the most profound. I've experienced so many once-in-a-lifetime experiences that I never imagined I'd have access to in my life. Yet, it's usually those simple and free memories that pop back into my mind and my heart. Curry's golden moment, shared on my living room couch with Finn, will likely be one of them, and I will cherish it forever.

Go make some memories, and please don't let lack of money get in the way of a life-giving, until-you-die memory.

____

Travis Shelton 8/10/24 Travis Shelton 8/10/24

The Night Test

Do you sleep well at night?

A friend recently asked me how we can know if we're taking too much risk. There are, of course, many different ways to measure risk. Probabilities, standard deviations, risk/return ratios, historical averages, and loss severities, to name a few. Each has its own application and merit. However, I have a simple test that I apply to my own life, and challenge clients to apply to theirs.

It's one simple question: Do you sleep well at night?

If the answer is yes, we're probably good. If the answer is no, we need to reassess our decisions. Far too often, people make decisions that keep them up at night. What if this happens? What if that happens? What if, what if, what if? That's a tell-tale sign we're doing something that we shouldn't.

It's quite difficult to live a meaning over money life when we're constantly haunted by our financial decisions. I've been there!! There have been plenty of times in my life when I made financial decisions that impaired my sleep. The debt, certain investments, reducing my emergency fund too far, not having enough cushion in my checking account, and not properly saving for upcoming (known or unknown) expenses. Each of these questionable decisions hindered my financial stability and jeopardized my ability to live a meaningful life.

It's not that money is the most important thing in our lives (it's not!), but our finances leak into every aspect of our lives. If we're feeling tension in our money, we feel it literally everywhere. In our marriage, in our work, in our parenting, in our hobbies, and even in our faith. You deserve better than that!!

Do I sleep well at night? I think about this question a lot. If my answer is "no," I must make a change. There's no reason to have that sort of tension and affliction in our day-to-day lives. Sometimes, it's unavoidable, but often, it's in our power to act. If so, then act.

I've had to unwind so many decisions in my life to find peace. It can be frustrating, time-consuming, and embarrassing, but it's worth it! If you find yourself in a financial situation that's keeping you up at night, I encourage you to act. Make a shift. Give yourself peace. Refocus on the meaning.

____

Travis Shelton 8/9/24 Travis Shelton 8/9/24

Yes, Even You (and Me)

At the same time, I also confront a different type of reality: We ALL have something to offer. Yes, I have less experience than most of them. Yes, I'm making less impact than most of them (or at least that's what I tell myself!). Yes, I can surely learn a ton from sharing a meal with any one of them. But I have something to offer, too!

I have a big talk coming up next week. It's not a large audience, as there will probably only be 100 people in the room. But it's a weighty audience. I have the honor of speaking to a group of people with far more experience and impact than I ever have. They are heroes in my book. Yet, these 100 people will take time out of their busy and productive days to listen to me try to add value to their lives. They will look to me for wisdom, insight, and influence. Imposter syndrome is starting to set in!!!

Despite the imposter syndrome, I intend for each person to walk out of that room with a completely different way of thinking. I want to equip and encourage them to be even more impactful in this next season of their mission. I aspire for them to look back on that block of their day and say to themselves, "Wow, I'm so glad I went!"

Both of those things can be simultaneously true. On the one hand, we can be in the company of people much further along than we are; on the other hand, we have something to offer them.

It reminds me of a recent conversation with a young professional. He wanted to pick my brain about podcasting and writing. He admires the work we're doing, and wanted to get some insights. Deep down, he's a marketing guy. He lives and breathes it. Recognizing that, I turned the tables on him and started asking him questions. This caught him off-guard, citing, "You have more experience in your pinky than I do in my whole body. You don't really want my advice!!"

Both things were true. I do have a lot more experience, and I did want his advice. He had something to offer, and I let him know that. He wavered somewhere between pride and disbelief, almost as if I was punking him. Eventually, though, he realized I was dead serious. Despite the vast experience gap, he had something valuable to offer me.

The same goes for you! Regardless of your age, background, experience, title, financial status, influence, or relationships, you have a ton to offer. And you don't just have something to offer in rooms full of people "below" you, but in all rooms. Even if you were sitting in a room with Elon Musk, you'd have something to offer him.

If what I just said is true, then perhaps we should all start sharing what we have to offer. No fear. No demeaning self-doubt. No imposter talk. Share it. Make an impact.

____

Travis Shelton 8/8/24 Travis Shelton 8/8/24

No Truly Original Ideas

I've been reflecting on the idea of ideas. We like to think our ideas are uniquely ours. After all, they do get formulated in our brains and projected from our mouths (or fingers, in the case of this blog). However, there are no truly original ideas. Every good idea is formed from a base knowledge, which is absorbed from all around us. Nothing I type of rant about on the podcast is truly my own.

In just a few hours, I'll participate in my tenth consecutive Global Leadership Summit in Chicago. In my opinion, this is one of the best conferences in the world, and one of the few events I look forward to every year. It will include two jam-packed days of speakers, ideas, stories, and inspiration. It fills my tank every year, and I couldn't be more excited. Even better is that my guy TJ gets to join me for the third consecutive year. Here's the speaker lineup we're about to enjoy:

I'm a big believer in acting like a sponge. Think about the little kids in your life. Children absorb EVERYTHING! "But why?" "But why?" "But why?" Their curiosity knows no bounds. However, it's common for adults to get complacent in their curiosity once they leave their schooling years. I've been there. Life gets busy, we think we know enough, and we get set in our ways. The consequence of this approach to life is that we can lose perspective, fall behind on knowledge, and get stuck in our own existing ideas.

Instead, I believe we would all be better off continually seeking new ideas, knowledge, and perspectives. Books, movies, podcasts, online videos, or even a coffee with someone who has something to share. None of these are expensive (mostly free), and we have instant access to some of the brightest minds in the world.

Undoubtedly, any good idea I've ever had on this blog (plus the bad ones....) can 100% be attributed to other people who have blessed me with their knowledge, ideas, perspectives, and experience. That's why I get so jacked up for the GLS each year. I will most certainly go home better than when I left. And if I lean hard enough into these new ideas, I may be able to add more value to your lives as well.

That's the opportunity we each have every day. Always stay curious. Keep growing. Continue learning. Then, share your new-ish ideas with the world so they can grow and develop their own new-ish ideas.

Based on the speaker list above, who are you most curious to hear about? I’m excited to share some of their content in the days to come!

____

Travis Shelton 8/7/24 Travis Shelton 8/7/24

Van Gogh, Via Hoag

I recently received a text from my friend, mentor, and brother, Gary Hoag (The Generosity Monk), that's too good not to share.

On a recent trip to Amsterdam, Gary stopped by Vincent van Gogh's museum to spend a rare bit of free time. There, he picked up a book titled Life According to Vincent. He was reading it on his flight, then stumbled upon page 17. Here's what it said:

"In my view I'm often very rich, not in money, but rich [...] because I've found my work - have something which I live for heart and soul and which gives me inspiration and meaning to life."

Van Gogh is commonly considered one of the greatest artists of all time. More than 140 years after beginning his painting career, his name and legacy still endure in our modern world. Similarly, his work continues to bless people many generations later.

Gary is a big fan of van Gogh, as evidenced by his using van Gogh's art as the cover for most of his books (including the book he and I wrote together). Admittedly, I'm not extraordinarily well-versed in van Gogh. In my brief research, I have three facts that may blow your mind:

Van Gogh started his painting career at age 27, and in a 9-year stretch, he created more than 900 pieces of work.
In his lifetime, van Gogh only sold only one painting, which transacted seven months before he died.
Van Gogh primarily used flowers, landscapes, farmers, and himself as subjects for his art, as he didn't have enough money to hire models.

When we think of people like van Gogh, we automatically assume he experienced the material riches any world-famous celebrity could have access to. That doesn't appear to be the case with van Gogh, though. By most accounts, his resources were limited, and he relied heavily on the financial support of family members. That's a pretty ironic reality juxtaposed with the fact one of his paintings sold for $149 million in 1990 (approximately 100 years after he painted it).

With that context, let me share that quote again:

"In my view I'm often very rich, not in money, but rich [...] because I've found my work - have something which I live for heart and soul and which gives me inspiration and meaning to life."

Those words sound so sweet through the lens of a man who didn't covet and chase the riches of the world. Instead, he thrived on purpose, meaning, and fulfillment.

I've been thinking about this quote since Gary generously shared it with me, and I'll probably be thinking about it for many more days. I hope it blesses you like it did me.

In the words of van Gogh, via Hoag, I hope you have something which you live for heart and soul and which gives inspiration and meaning to your life.

____

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