MM#27--Keeping Up with the Joneses

I’m David and welcome back to another MOJO Minute.

In our past MOJO Minutes we often talk about physical fitness and how if you are not getting the biology right and working out every day, you will not lead a flourishing life.   

We know from science that our physical bodies were made to move all 45 Trillion cells of us.

So lets take that same mindset and it apply it to our financial fitness.

And because we love quotes here at the Academy

Lets start with one 

“Dr. Tom Stanley wrote a wonderful book in the ‘90s that you should read entitled The Millionaire Next Door. 

His book is a study of America’s millionaires. 

Remember, if you want to be thin and muscular, you should study the habits of people who are thin and muscular. 

If you want to be rich, you should study the habits and value systems of the rich. 

In his study of millionaires, Stanley discovered that their habits and value systems were not what most people think. 

When we think of millionaires, we think of big houses, new cars, and really nice clothes. 

Stanley found that most millionaires don’t have those things. 

He found the typical millionaire lives in a middle-class home, drives a two-year-old or older paid-for car, and buys blue jeans at Wal-Mart. 

In short, Stanley found that the typical millionaire found infinitely more motivation from the goal of financial security than from what friends and family thought. 

The need for approval and respect from others based on what they owned was virtually nonexistent.”

Ahhh...there is tons of goodness packed into a short paragraph there.

Lets recap

And before we do that let me be sure to credit that paragraph 

It came to us from the great financial wizard himself, Dave Ramsey in his delightful book, the Total Money Makeover.

If you are struggling with debt, I cant recommend a better book to point you too.

It has helped me numerous times.

Ok back to the paragraph, 

(This is Ramsey’s book on the Millionaire next door)

“He discovered that their habits and value systems were not what most people think.”

Hmmmm... interesting.

Lets continue

“When we think of millionaires, we think of big houses, new cars, really nice clothes.  Stanley found that most millionaires dont have those things.”

Hmmm, even more interesting...

“He found that typical millionaires live in a middle class home, drive a two year old or older paid for car, and buys blue jeans at Wal-mart.”

Wow, thats NOT the narrative we hear all the time in our culture.

So that is not close to the truth?!!  

How about you?   

Did you think this is how millionaires live their lives?

You know we everyone on social media is millionaire.   LOL

Check out their posts.   Vacations.  Dream homes, new cars.   

Back to the book, “in short, Stanley found that the typical millionaire found infinitely more motivation from the goal of financial security than from what friends and family thought.   The need for approval and respect from others based on what they owned was virtual nonexistent.”

And there it is.

The coup de grace

The final blow to everything we thought we know about financial fitness.

The people who are actually practicing financial fitness dont care about what others think about their older cars, their wal mart jeans and frankly anything else, they care about their financial fitness.

So in todays MOJO Minutes, if we are struggling with debit or we have our priorities messed up in our financial world, lets take a page from Dave Ramsey and Dr. Tom Stanley and not care what others think and make our number one goal this year, this month, this week, to gain financial fitness.

Because if you have followed Dave Ramsey at all, most especially on his very popular radio show, you will know his best advice is this,

“Dont even consider keeping up with the Joneses.    

Why? Dave, because they’re BROKE”

LOL

Lets be prudent with our money 

moment to moment and moment and in doing so we will begin to lead a financial flourishing life.