44 | The Urge

The urge is real.

The urge is strong.

The urge is persistent.

The urge is for the "deliverable" - the tool, tactic, analysis, projection, or product - to solve everything and allow us to surpass the underlying emotions and feelings that define our relationship with money.

It's a two-way street.

The urge is the easy way out for the one providing advice or counsel.

Once we've identified or felt enough of the tension in the conversation, we can point to the "deliverable" to make the tension go away and then subconsciously cross our fingers!

The trouble is that this runs a substantial risk of missing the mark, pulling us further away from what we actually need, and discouraging us along the way.

"I am feeling significant angst trying to buy a home in the current housing market." Well, here's a summary of your investment performance over the past 12 months and a commentary on what outperformed in your portfolio.

"We feel significant tension making spending decisions and often find that we can't reconcile differences in our perspectives." Well, here's a projection of what you can spend over the next 30 years to be sure you don't run out of money.

"We want to save for college for our kids, but we're not sure if that will be in the cards for them and we're hesitant to designate so much money to this one goal." Well, here are all the tax benefits of saving into a 529 account and thoughts on why it's a good idea.

The "deliverable" is the cheap way to get out of the real conversation.

The urge is the easy way out for the one receiving advice or counsel too.

When we're feeling the typical overwhelm that so easily accompanies our experience with money, we subconsciously cross our fingers and hope that someone will point to the "deliverable" that can make the tension go away!

The trouble is that this "magic bullet" does not exist and pretending that it might only expedites our journey to a disappointing day of reckoning.

No commentary about the current job market finds you a new role.

No budgeting app assesses the level of contentment in your spending.

No future projection does the saving for you.

No investment product protects you from the uncertainty of the future.

The "deliverable" is a crutch to making real progress.

It sounds like I am suggesting that tools, tactics, analyses, projections, or products are not necessary for financial well being. This is not the case.

The reality is that fancy "deliverables" are much less necessary to financial well being than we've been led to believe and, if we're not careful, they run the risk of distracting us from our relationship with money.