I’m still amazed that even in 2015 the almighty dollar is a subject of such controversy and mystery. When I watch many television shows or read articles online, I’m surprised how so many of us feel guilty to get paid for our services.
I’ll use myself as an example. When I was a financial advisor, the managers used to tell me that I was too kind with the clients thus I had a hard time closing the sale. In fact, when I look back I felt guilty selling what I was selling. I felt like I was ‘taking’ money from the client, instead of actually being rewarded for helping him. Money was the be all and end all of everything we did. When we came back from an appointment and had to meet with our managers, the first question they asked us wasn’t how well we served the person we met with. The first thing they wanted to know was: Did you make a sale?
Given my experience, I am well aware of the ‘guilt’ and how we can convince ourselves we are doing the right thing for the commission/money we receive. I never felt comfortable as an advisor, but I feel perfectly at ease when it comes to my writing. Why?
There are many reasons that come to mind: maybe I feel my writing is much more aligned with my life’s purpose? Maybe I feel I am doing the right thing and I am rendering a valuable service I believe in? I’m not entirely sure yet, to be honest.
When I meet people from different cultures, I notice this discomfort about possessing money at even a higher level. A Haitian friend of ours said that when she received 500$ she gave 495$ as a donation and kept only 5$ to herself! I was astonished and made me question: Is the amount of money we keep for ourselves an indicator of how much we value ourselves? Does it determine our financial self-worth?
I may keep 20% of every dollar I receive for my investments and donate 10%. Does it mean I’m selfish? Or am I taking my financial future in my own hands? In April, my tax expert went into a rant as he talked about a client he’s had for the last eight years. Apparently, she donates 7000$ to the church every year and she doesn’t even have enough for a RRSP (or 401K in the U.S). He also mentioned how some clients of his bring home close to 200 000$ a year and still can’t buy a house, saying that they don’t have enough money!
Where does this confusion about the almighty dollar come from? Why are we so mixed-up? Why do educated, smart people make such tragic mistakes? Why all these weird feelings?
I believe the ancient idea that ‘money is evil’ and the guilt religions instilled in us is still alive somewhere in our consciousness. For many of us, schools don’t teach us about money, our parents don’t either, and certainly not our friends or our bosses. So who’s left? Only ourselves, I guess.
In the end, financial education is crucial, it should be taught in elementary school on the same level as English and Mathematics. With the current state of our economy, we have no excuses for being clueless about money. It is the main cause of divorces and overall anxiety in our society. Did our schools just ‘forgot’ to talk to us about money? If we look at the history of our educational system, we should get some clues.
What’s your relationship with money? Do you feel at peace with it? Do you feel right about getting paid for your services?
With Purpose, Passion, and Love,
Frédéric Byé
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