A MoneyMinding Funny Faux Pas
Sometimes great lessons come from the simplest of events. The secret is in being aware of all that we can learn for our daily living.
As many people know, in our household we save ‘toonies’. These are Canadian $2 coins. The purpose of this savings is for family dinner’s out or perhaps short weekends. This is a simple, tangible, specific purpose that our entire family participates in. We originally chose the $2 coin because the $1 coin was useful in parking meters. There wasn’t a lot of technical calculating done when we set this system in place. We simply decided that when we went for a meal out we wanted it to be ‘guilt free spending’ and that it was something that we could easily save for. The process of saving our $2 coins has been ongoing now for over 5 years and we have enjoyed many evenings counting, rolling, and planning our family dinners out and on several occasions – our weekend excursions.
Recently we decided that the original ‘piggy bank’ used to save these treasured coins needed to be upgraded and we opted for a nice pottery pig which has been in the family for years. Our daughter happily counted the existing savings and made the transfer. We then continued to save our $2 coins as we always had until a few days ago when we thought we’d count our savings only to discover that out new piggy bank could get the coins in easily enough, but unfortunately the exit spout wasn’t quite big enough to get them out. Eegahds!!
We could get the money in easily enough and display our nifty piggy bank on the shelf in the living room, but we had forgotten that important step: the exit plan. Now our ‘exit’ options seemed to be: smash the bank, muck about with pliers or some other creative devise, or leave the money there indefinitely
How much this resembles real life investment decisions. We start them easily enough, talk about the great rewards, but… too easily forget the exit plan. Then if it doesn’t work as we had originally intended, we are left losing something valuable, mucking about until we do get the money out, or leaving it there indefinitely until ‘someday when…..’
In our case, someday when we really want a nice dinner out we’ll likely get come up with a creative way to get the money out the same way we put it in. And in the meantime, we’re open to suggestions.
Copyright© 2006 Tracy Piercy. Written Permission is required for reproduction. Thank you.
As many people know, in our household we save ‘toonies’. These are Canadian $2 coins. The purpose of this savings is for family dinner’s out or perhaps short weekends. This is a simple, tangible, specific purpose that our entire family participates in. We originally chose the $2 coin because the $1 coin was useful in parking meters. There wasn’t a lot of technical calculating done when we set this system in place. We simply decided that when we went for a meal out we wanted it to be ‘guilt free spending’ and that it was something that we could easily save for. The process of saving our $2 coins has been ongoing now for over 5 years and we have enjoyed many evenings counting, rolling, and planning our family dinners out and on several occasions – our weekend excursions.
Recently we decided that the original ‘piggy bank’ used to save these treasured coins needed to be upgraded and we opted for a nice pottery pig which has been in the family for years. Our daughter happily counted the existing savings and made the transfer. We then continued to save our $2 coins as we always had until a few days ago when we thought we’d count our savings only to discover that out new piggy bank could get the coins in easily enough, but unfortunately the exit spout wasn’t quite big enough to get them out. Eegahds!!
We could get the money in easily enough and display our nifty piggy bank on the shelf in the living room, but we had forgotten that important step: the exit plan. Now our ‘exit’ options seemed to be: smash the bank, muck about with pliers or some other creative devise, or leave the money there indefinitely
How much this resembles real life investment decisions. We start them easily enough, talk about the great rewards, but… too easily forget the exit plan. Then if it doesn’t work as we had originally intended, we are left losing something valuable, mucking about until we do get the money out, or leaving it there indefinitely until ‘someday when…..’
In our case, someday when we really want a nice dinner out we’ll likely get come up with a creative way to get the money out the same way we put it in. And in the meantime, we’re open to suggestions.
Copyright© 2006 Tracy Piercy. Written Permission is required for reproduction. Thank you.
posted by Tracy Piercy at 9:41 PM
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