Thursday, September 5, 2013

Occasional Paper: Money for Nothing



For most of my life I was what could best be described as financially indifferent. I didn’t keep track of money coming in and I certainly didn’t keep track of it going out. Utility bills were what they were, gas prices didn’t faze me, I bought whatever looked tempting at the grocery store, and convenience shopping won over comparison shopping hands down. I had multiple credit cards, all operating at maximum capacity. And if friends or family members asked my advice, I could be depended on to rationalize a big house, a new car, take-out food and an all-frills vacation for them. In my view, money should be exchanged for happiness and the less money, the more happiness.

So that went on for a long time. Then about 2 years ago I got divorced and did a financial about face. The money I had (or didn’t have) wasn’t about happiness, it was all that stood between me and homelessness. Money meant not showing up on my mother’s doorstep with a suitcase. And that meant taking stock. It has been a 2-year process. I started with selling my half of the house, then I sold everything in the house that I didn’t need. It turned out I didn’t need a lot. When I had all the money in a figurative pile, I paid off the credit cards, moved to a one-bedroom apartment, bought store brand groceries in bulk, changed to energy-efficient light bulbs, stopped using the air conditioner and started washing clothes only when they were good and dirty. I drove less and rode a rented bicycle. I downgraded my phone after I decided paying $200 a month wasn’t that “smart.”I read internet tips on saving money and realized that I already did most of them. I learned how to invest money and started buying stocks and mutual funds and kept track of gains and losses. I allocated half my paycheck to my retirement account. 

It turns out money can’t buy happiness. Being in control of money does. Actually it buys something more enduring than happiness, contentment and peace of mind.

To me, this life lesson translates to teaching as a way of providing the different, but no less vital commodity of knowledge. Until students realize they are masters of their own destiny, taking control of their own learning, owning what they learn and appreciating the value of that knowledge, they will be “educationally indifferent.”

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