Little Lies Lead to the Largest Losses

Little Lies Lead to the Largest Losses

I was reading over the weekend and happened across an ad for a financial app called Acorns. The app keeps track of all your transactions and saves the spare change into an investment account. For example, if your Starbucks purchase cost $3.25. The Acorns app will take the additional .75 cents and add it to an investment account for you.  Sounds like a great idea (wish I had thought of it). Subsequently, I checked out an article on the pros and cons.  Definitely, an option worth looking into further. However, this post isn’t about little ideas for investing but little lies that lead to large losses.

More than the novelty of the app was the idea of its name – Acorns.  Acorns are the little seed of an oak tree. In contract, acorns start out little but have the potential to result in a very large oak tree.  Like the acorn, money has the potential to grow large as well.  In money basics 101 it’s called the time value of money. However, this post isn’t about the truth of the time value of money, it’s about the little lies that lead to the large losses.  It’s the little lies that we believe that keep us from financial freedom. In short, having the freedom financially to live the life you desire with the freedom to give generously to others in gratitude of what you have.

Looking at the Little Lies

By and large, the little lies go something like:

What difference will it make if I can only save a few dollars a month? Why bother.

I’m too young, too old, not in the career I want to be in, etc. No need investing anything right now. When ______ happens I’ll start to save.

What little I could give wouldn’t have any impact. Besides, I should be saving for myself (but you do neither).

I don’t spend that much on _______.  It’s my simple pleasure.

Whether the little lies are keeping you from savings, investing, paying down debt or being generous the losses that result grow large over a lifetime.  Losses that keep us from missing the blessings of giving, missing the peace that comes from being out of debt, missing the pleasure of being able to travel or enjoy those simple pleasures. The lies tell us we can’t do it all but the truth is if we do a little bit of all the right things (save, give, pay down debt) the payoff is BIG! A life of financial freedom – free to live, free to give, free to be, do and have those experiences that matter to us and the people we care about.

You weren’t born to pay bills and die. But that’s what happens if you believe the little lie. @KarenZeigler tweet

Grab your journal; it’s your turn to grow

Take a few moments and reflect on your personal finances:

  1. What little lies do you tell yourself about
    1. spending
    2. saving
    3. giving
    4. debt
  2. What are the large losses these little lies are growing?
    1. peace of mind
    2. future financial freedom
    3. future retirement
    4. ??
  3. Pick the financial goal you’d most like to improve and look into apps that may help you reach your goals faster.
    1. Saving and Investing
    2. Budgeting
    3. Getting out of Debt
    4. Giving

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