Situation 1: You need a new television…You walk into Store A and the price of the television is $600. You then walk into Store B and the price is $400. Of course you purchase the TV at Store B walking away with the satisfaction of having saved $200 bucks. You then take the $200 to Store C and buy a BlueRay Player and several movies. We then tell everyone that you saved $200 on the television, but the fact is that you did not save any money. Saving would imply that we put it somewhere safe to earn interest.
Situation 2: You need a new Car…You go to the dealer for financing and you get the payments down to $400/month for 5 years totalling $24000. The original price of that depreciating liability was $15000. You just invested $24000 into a $15000 vehicle that will be worth $5000 by the time we have finished paying the balance.
Situation 3: Your budget is completely out of whack because of Situations 1 & 2…It is Saturday night and your family of five is coming in late from a ball game. You choose out of hunger to go to the drive thru at the local burger joint and get five value meals at $5.00 each. The food is terrible and you complain about the $25 being wasted.
Situation 4: You work five days a week, and your co-workers all go out to lunch, and you usually join them. The average lunch meal is $6.00 and by the end of the week you are putting the gas for your new car on the Visa, along with the trip to the burger joint on Saturday, and because of this stress you go to the movie store to charge a new BlueRay disc to watch on your new TV.
Situation 5: You are out to lunch with the girls and your remember that JC Macy’s sent you a 25% coupon as a text on your phone. You walk into the store and notice that they are having an additional 50% off clearance and an additional 10% off of any red, yellow or blue tag item ending with .99. You apply for a JC Macy’s card and save an additional $10% today only! So you buy all of your kids school clothes for next three years, and a few skirts that were marked down from $100 to $10. Your total bill is $200.
These are everyday financial disasters that I and most Americans fall headlong into each day. TEAM L.I.F.E. has offered me an education that has enabled me to think more effectively about how I stewart the money that I have earned. We sit down with people making these and other very costly mistakes and we offer them a world class education that will equip them with the knowledge to change these habits. Many will tell us that they cannot afford $75 – $150 a month for their own financial well being, but it is up to us to share our stories of self sacrifice of what seems good for what we know to be great. The Team training system has blessed me to know more about finances than I was ever taught in school, and as time goes, I am learning to implement these rules. Read some of my previous thoungts on Finances. Share with us some of the financial lessons that Team has taught you thus far…