I really do enjoy PostSecret because so many of the “secrets” resonate in some fashion or another with me, and one this week really did hit home:
At first it’s kind of funny to think of folks who are that tied up with doing “To Do” lists that they turn it into their raison d’etre, but think about the implications on Financial Planning.
If you dutifully collect data about your Financial Life using whatever tools you have available, but you never really look at the data all you are doing is collecting receipts!
I am guilty of this myself, I have Quicken Data going back to 1999, but do I regularly run the Spending Reports to see where my money is going? Not very often, and my suspicion is that I might learn a lot more about my money if I did this.
Sometimes the Journey is more important than the Destination, but if if you catch yourself obsessing about how you collect your financial data, and the importance of collating the data, without worrying about why you are doing it, you might be on a Fool’s Journey.