Think about what you can handle before you start it, because sometimes what you set in motion can “run you over.”
The ability to make use of wisdom is often contingent upon our ability to identify with it. If we can identify with it, we’ll feel much more comfortable about it because we’ll have a better understanding of it. Often, this requires an emotional connection or a different perspective before an idea clicks with us. That’s what I hoping to do, make something click.
A dear late friend of mine, Deborah Hutchinson, used to say, “Don’t start nothin’, won’t be nothin’.” She usually reminded her friends and family of this when she perceived unwarranted criticism, teasing or harassment just around the corner. Often, just this gentle reminder would defuse a situation that could have easily led to regrets. Just the idea of the lasting consequences of getting something undesirable started was often enough to keep it from happening.
It’s a good thought to keep in mind, but that little bit of wisdom doesn’t just apply to human interactions, it also applies to personal finance, especially the kind that can get you deep into debt. Let’s take a look to see how we might apply this reminder in the financial arena to help avoid situations that could lead to regret.
- Don’t get a credit card, can’t run up charges.
- Don’t immerse yourself in corporate media, won’t be tempted by the onslaught of commercial advertising.
- Don’t get caught up in American popular culture, won’t need to buy the latest gadget, gizmo or fashion.
- Don’t have money on hand, can’t spend it.
- Don’t gamble, can’t lose your money because the odds all favor the house.
- Don’t ignore your finances, won’t be nothing coming back to bite you in the butt.
It’s a simple idea that reflects legal concepts we use in civil proceedings. If you “set something into motion,” you’re likely responsible for the outcomes, no matter the number or type of consequential damages that ensue. If we follow that logic in a practical example, then being irresponsible with money can lead to an inability to fix your car or buy another one when it breaks down. What might likely follow is also your fault because of your careless handling of personal finances:
- No reliable transportation for work.
- Loss of job because of inability to show up regularly and on time.
- Income producing time is now spent trying to find another job with comparable pay.
- No savings to fall back on means being late on every bill.
- Utilities shut off due to lack of payment.
- Eviction notice on the front door because of failure to pay rent.
- Your world turned upside down and filled with uncertainty because you’re in between jobs and having to make do with temporary housing.
I once heard a man explain his forecast for getting himself out of a financial predicament by saying, “It’ll work out, it always does.” Another man predicted, “It’ll be alright.” Perhaps, but for millions of Americans living in tents, temporary quarters and homeless shelters, things aren’t working out as they expected, and it’s almost a certainty that they’re regretting something along the way that they started but couldn’t handle. Clearly, sometimes what we set in motion can run us over in more ways than one.
As the old saying goes, “An ounce of prevention is worth a pound of cure.” I have a propensity for preventing financial problems instead of trying to fix them. It’s easier when you manage the situation and not the other way around. The way I do it is simple, I’m careful about what I get myself into, and I always keep in mind, “Don’t start nothin’, won’t be nothin’.
Great advice – it also applies to the end goal most of us have: something we can live on. We call it drop dead money: enough money so you can tell your bosses to drop dead. Just a fun term for financial independence.
Drop dead money is not an overnight thing. For that reason, many people overlook it. But… as the title of your post said: Don’t Start Nothin’ Won’t Be Nothin’
Well put!
I do like these rules because they’re simple, but they strike me as written for the person with no self-control or maturity. For example, a ‘healthier’ set of rules might be:
– Have one credit card, but learn how to use it responsibly.
– Educate yourself about the effects or modern advertising so you can recognize when you’re being duped and manipulated.
– Develop the maturity and self-confidence to feel good about yourself without having to keep up with the gadget-laden Joneses.
– Paying cash is good. Learn that just because you have money in your pocket doesn’t mean you can afford that thing you’re looking at.
– If you want to gamble, do it for fun, not money, and know you’ll lose in the long run.
– Be an adult and learn what you need to know to manage your money and meet your goals.
Kurt, these weren’t meant to be rules, but merely examples of “how we might apply this reminder in the financial arena” to show that the concept is applicable there as well. Clearly this has “clicked” with you as I had hoped it would for many readers. You’ve done a nice job of turning these basic examples into more useful guidance.
Also, if you think the examples sound like they’re for people with no self-control or maturity, I’d say that you’ve probably characterized a good portion of people who have persistent trouble with money. For those with a responsible, mature outlook and good self-control, they already know that what they set in motion can come back to haunt them – be it positive or negative.
the word “maturity” in both these comments rubs me slightly the wrong way. Someone having a problem with impulse buying (like myself) can help avoid making bad decisions by removing credit cards in their wallet.
I don’t think that carrying one credit card and using it responsibly shows any more maturity than simply removing them from your wallet (or purse) and not using them at all.
I guess my real thought is this: this is a great post, and people need financial boundaries. Different people need different boundaries depending upon their situation and needs – and thus may need their own set of “custom” rules to help guide them in the right direction.
I don’t think there’s a one size fits all….
Travis, absolutely, one size doesn’t fit all. That’s the government approach. Every individual is somewhat different, so something customized is best. And, when you create your own approach, you’ll be much more likely to follow it because by definition, you’ve bought into it.
When I think of credit cards, I think of violent movies, songs with abundant profanity, driving on our public roads, handling firearms, consumption of alcohol, and many other activities where there is the potential to place something or someone at risk – some folks can handle the responsibility, while others can’t, and there are many variations of responsibility in between. It’s like a line from one of the Dirty Harry movies, “A man’s got to know his limitations.”