You may have heard of the more common wording of this cliché; laughing all the way to the bank, I just prefer this version. How you interpret this cliché has a lot to do with how well you are doing managing your finances and achieving your financial goals. If you are doing well, you are probably thinking “right on,” but if you are not doing so well, you are probably closer to “if only I could be so lucky.”
Let’s start with the requisite qualifiers. Money is not everything, and money cannot buy you happiness. Wait a minute, are those clichés? I am also not going to go Gordon Gekko on you and tell you that “greed is good.” I do believe, however, that capitalism is an important part of our economy and our society, and that no one should be chastised for applying themselves toward a career that is important to them while they make a few bucks along the way.
Having a handle on your finances and a plan for your financial goals are important parts of a healthy existence. How you value money and set your financial goals is entirely up to you. Whether you are only concerned with covering the basics of food, shelter, and clothing, or you want to live a large life of luxury and opulence, it is a distant second to your peace of mind when you have a financial plan and you follow it.
While laughing doesn’t necessarily mean you are happy, it is a great start. If you can find humor in life, you will be more likely to be optimistic, secure, and well adjusted. So, if you can combine an understanding of your finances with a sense of humor, you really have something!
If you have not done so already, you have the power to do so and can develop the skills to better understand your finances to develop a plan that works for you and your lifestyle. When you do, you can laugh all the way to the credit union!
By Scott Arney, Chief Executive Officer, Chicago Patrolmen’s Federal Credit Union.
This article is part of Arney's new series, entitled A New Use for an Old Cliché.
This installment is part of Arney's educational series, entitled The Serial Decision Maker.