Whatever Happens This Tuesday, Remember This…

Oscar Wilde once wrote: “To lose one parent is tragic. To lose both is careless.” And so it goes with our democracy.

On the cusp of the Tuesday midterm elections, I am finding it impossible to focus on much else. Voting for the former President in 2016 (I do not speak – or type – the name) was for some an exercise in contrariness. To elect a Republican Congress in 2022 cannot be chalked up to mere perversity; it is a deliberate choice to reject democratic values and embrace hate. It’s really not about the economy.

And yet this is supposed to be a blog about money. So.

On my Medium blog, I write frequently about the intersection of public policy and personal finance. It’s all well and good to save more, borrow less, and invest wisely. But in a country characterized by unaffordable housing and higher education, less than livable wages, and broken health and childcare systems, well, good habits will only take you so far. And yet…

We are not without agency. Even as we may be overwhelmed by the structural weaknesses in our economy, household-level choices do matter. How you respond to the less-than-ideal deck that you have been dealt could be the difference between a life characterized by financial stress and one of financial peace.

Specifically? We all need to be very, very clear about what matters most in our lives and make every spending choice accordingly. Consume with intention, not as a reaction to frustration over your situation.

This was a long, epistolatory walk just to say “live within your means.” Yes, but more than that. Understand what your “means” are and choose your goal deliberately: To increase your means, or to design a lifestyle of contentment within your resources? For a time, at first, it may be the former goal. Financial wellness is achieved when you know when to flip the switch to the latter goal.