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Financial Pancake Tuesday (woo hoo!)

Get out your flapjacks, it’s Financial Pancake Tuesday (or Mardi Gras if you are in New Orleans or France) again, or to add clarity it is Shrove Tuesday. Why do they call it Shrove Tuesday, well it is the day before Lent, as I have written before, and just to remind you, Shrove is a derivation on Shriving.

To Shrove is:

… the past participle of the English verb to shrive, which means to obtain absolution for one’s sins by way of confession and doing penance.

Not a big fan of Church, or the Christian religion in general? That’s OK, but you can still use this in your financial well-being plan, by attempting to obtain absolution from your previous financial sins and doing financial penance.

You feel you don’t have any financial sins? Good for you, but remember, the only people you hurt by not admitting your sins in this case (financially that is) is yourself, so if you think you are trudging along happily financially, you can ignore this idea and keep on trucking, the way you have been.

I know that I have sinned financially (and in many other ways, but let’s not wander down that rat hole), so I will be spending Lent paying financial penance for my financial mistakes/sins/blunders. I find paying financial penance as a cleansing activity (no not like the folks that flagellate themselves with whips and such, just a financially spiritual cleansing).

Some Examples

What kind of financial transgressions do I speak of?

  • Simple things like buying coffee out, or buying dinner out a little too much in the past year.
  • Big things like not having a real financial plan for the next while in place
  • Huge financial transgressions like using debt in a bad way
  • The list could continue on, but you can get the concept of what I might mean

What will I be doing to pay penance? I still have a day to figure that one out (Lent starts on Ash Wednesday), but I have a few ideas in mind. Until tomorrow, I will enjoy the pancakes and ruminate on the possible ideas.

Other Shrove Tuesday Thoughts

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Financial Shrove Tuesday

To Shrive Financially on a Tuesday

Time to enjoy this Tuesday, with pancakes, bacon and sausage. Remember that tomorrow Financial Lent begins, and you will need to make some real sacrifices (financially) for the 40 days (OK, more like 46, really) that will follow.

To Shrove is:

… the past participle of the English verb to shrive, which means to obtain absolution for one’s sins by way of confession and doing penance.

If you are looking for Financial Absolution for your previous financial sins, figure out how you do it, and do it, because tomorrow you start atoning for your destructive financial behaviours.

financial shrove tuesday
Pancakes, mmmm…..

If you are looking for absolution from me, you haven’t read me much because I don’t give sympathy. I also don’t provide a pardon for previous financial sins. If you are looking for absolution or for someone to confess your financial sins to, maybe drop by your Church?

You could drop by your bank (but maybe your banker is the last person you should tell that you have been living on your overdraft). Your banker may give you some ideas, but you won’t get financial absolution there either.

Why do I like Lent? I am not sure, but I think I love stories of redemption and the chance for redemption. Let’s see if we can have some financial fun with this exciting time of the year. Time for some Financial Redemption good reader.

Enjoy your pancakes and enjoy Financial Shrove Tuesday.

Other Shrove Tuesday Thoughts

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Personal Finance and Kung Fu Panda

A while back, we watched Kung Fu Panda for my son to watch, and he enjoyed watching it a great (unfortunately afterward he wanted to punch and kick everything in the house, but that is not part of this story) deal. The story is quite silly, the animation is nice and all in all, it is a fun movie to watch with your kids, mostly because there are a lot of in jokes during the movie that you laugh at (especially when you think of the actors who are actually saying these lines).

Kung Fu Panda

How does a Big Fat Panda become a Kung Fu Panda the master? I won’t ruin it for you but this movie actually carries a fair amount of deep spiritual (or philosophical) statements about life that you can easily lend to your Personal Finance philosophies, let’s just run through a few of these interesting quotes (taken from the IMDB.com site).

Master Oogway: There are no Accidents

Very true in life, there are no accidents in Personal Finance either, it all happens for reasons that we can see, or figure out as part of our work on our finances. No one accidentally got into debt, and no one usually accidentally gets out of debt either. There are reasons for most things that happen in life, typically the things we call accidents are things which we don’t understand the reasons why they happened.

Understand your personal finances and what is going on, and there will be No Accidents. If accidents seem to happen, find out why, and then they are no longer an accident, they are a learning moment.

Master Oogway: Ah, yes. But no matter what you do, that seed will grow to be a peach tree. You may wish for an apple or an orange, but you will get a peach.

No matter what you do, if you plant a peach tree pit, you will get a peach tree, and in personal finance, if you continue to spend without thinking about what you are doing, you will end up with debt (big debt). The only way not to get your debt, is to not spend without thinking. Sounds simple doesn’t it?

You can hope things will change, you can think you can influence things, but unless you plant something different you will have a peach tree.

Mr. Ping: Don’t have to. To make something special you just have to believe it’s special.

A fun little statement about having the confidence to stick with your convictions, and if it is something that you think is special, it is somethign special. With Personal Finance, there is no secret ingredient (even though there is a multi-million dollar industry out there to convince you otherwise), none of it is a secret, it’s all there, choose what you think is special, and go with it (but maybe choose carefully what you think is special, to be safe).

Just goes to show that personal finance and how you deal with your money is a very Personal thing (hence the name Personal Finance). Learn, read, and find out what works best for you, and even though you might be a Big Fast Personal Finance Panda, you might end up being The Big Fat Personal Finance Panda. Skadoosh!

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Money Can Be the Root of All Evil (Redux)

Revisiting my previous thoughts

Remember this week I posted a posting with the same title, Money Can Be the Root of All Evil, where I tried to take a much less religious viewpoint, but I figure I am allowed to take a Christian point of view, given this is Sunday.

From another point of View

Remember the bible quote:

1 Timothy 6:6-21.The love of money is a root of all kinds of evil, and in their eagerness to be rich some have wandered away from the faith and pierced themselves with many pains.

Money is not the root of all evil. As most folks erroneously like to quote this passage, the love of money is the root of all kinds of sin, but sometimes it is easier to shorten the passage to fit your argument, I assume.

Money is a tool that can be used towards whichever ends you want that to be, and from a Christian perspective, money can be used for a great deal of good through Charitable donations and other good works. The Love of Money is a dangerous thing. Losing your perspective spiritually and in your life in the blind pursuit of riches and money is the problem.

In my younger days, I worked very long hours searching for esteem and mostly more money, but I have found that as I get older, money is not all it is cracked up to be. I have found I have the innate ability to spend a little more than I make, no matter how much money I make, so making more money becomes a vicious spiral. You end up working more, making more, and losing track of what is essential in this life.

I still make a very nice salary, and I work hard for that salary, but life is no longer centred around my job, which is a nice change.

Make money work for you, make it the tool for creating good things in your life, but do not become its slave, and you’ll be much happier.

Wow, two posts from one biblical quote!

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Money Can Be The Root of All Evil

Not to Get all Christian but…

On Sunday I read a favorite bible quote:

1 Timothy 6:6-21.The love of money is a root of all kinds of evil, and in their eagerness to be rich some have wandered away from the faith and pierced themselves with many pains.

OK, let’s stay away from the religious aspects of this biblical quote and concentrate on the essence of what is being said by the writer (or God depending on your point of view).

Money is not the root of all evil as most folks erroneously like to quote of this passage, the love of money is a root of all kinds of evil, but sometimes it is easier to shorten the passage to fit your argument I assume.

I agree with this passage, you can easily fall in love with money, and that can really screw your life up, which is a simplistic rewording of this passage. The entire low rate mortgage scandal in the states can be summed up by this passage, as people fell in love with what money could buy (expensive homes), which then overextended them, causing them to default on the loans.

My guess as to what the authors are bringing across is a very Christian ethic, which is live within your means (OK, it’s not just Christian, I am sure many Buddhists, Muslims and even a few Atheists agree with this tenant as well). Don’t fall in love with money and the pursuit of it, and worse the things it can buy you, live your life, in a sensible way and you should be fine.

I am not saying, don’t watch your money carefully or make financial plans, on the contrary, I am saying plan so that you don’t have to keep pursuing money, as someone in love might chase a new object of their affection. Money is a tool, to get what you need to live a happy life, not much more, but no less.

Love your family, your friends, and your life, but don’t love money, show it respect as you would any good tool, and you should be fine. The other problem with money as a tool, is that it does not coming with an Owner’s Manual, but then again, most men wouldn’t read it anyhow.

If anybody knows where I can find the Money Owner’s Manual, please leave me a comment.

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