Never Turn Down A Million

After a beautiful scenic-filled day along the coast of the Pacific Ocean, I was awakened by a text at 3:30am that hurt my heart.  A friend’s husband had suddenly passed away at a young age. As I lay there praying for her and her children and reflecting on the day’s journey that lay before me, I once again thought of the importance of preparing for the future. 

Most of those traveling with me I know personally. Many of them, like my friend, had experienced their share of heartaches.  Some of them had done what no parent should ever have to do, bury their child.  Several had buried mates, and many had fought the battle of cancer themselves or with loved ones. All of which no doubt had financial implications.

Did they make smart financial decisions in their 20s and 30s that allowed them to now be traveling and enjoy life to the fullest?  My guess is yes!  Studies have shown that even minor contributions made in your 20s and 30s can have a higher payout in retirement than if you were to make larger contributions in your 40s and 50s.

So, why do so many wait to save for retirement or for the unexpected? Is it a lack of desire to enjoy life in later years? Is it because they don’t feel like they have the money or that they have plenty of time?  Whatever the reason, I was blessed to witness the laughter, and sheer excitement on the faces of my life weary travelers.  To paraphrase Mark Twain, “Even if I never have millions, I would never turn down the position!" I will continue to encourage everyone to start saving today because we may not know what the future holds, but none of us would ever turn down the position to enjoy the ride.      

WORKING IS NOT JUST ABOUT YOU

I often hear in today’s society, “the rich get richer while the poor get poorer”. This week has disproved that myth to me on so many levels.  Besides not personally believing that money makes you rich, I was reminded that your current status doesn’t dictate your future by a young person this week. Furthermore, I was reminded to whom much is given, much is required.

Growing up in a single parent home this student had been accepted to the college of her dreams (due to her hard work and dedication to academics). However, getting accepted and having the funds to fulfill her lifelong dream were two different things.  Choosing to work every day after school (hard work in a field) and all summer, while graduating with a 4.0 was not an option, but only a solution to defeating the fear that kept saying, “You can’t do it”.    

I smiled as she relayed to me the hard work of applying for funds and the heartfelt appreciation of a scholarship she had received.  However, it was the statement she made that had a profound impact on me.  As she stood in my office she held out her hand as if to give money out, she smiled as she stated, “I can’t wait to finish my degree, get a great paying job so I can say, here’s a scholarship for you, and you and you and you too” What a novel idea… working so you can not only help yourself but someone else too.

Maybe the rich do get richer, but you will never convince me that in our great USA that hard work and a kind heart will keep you poor.

Cancer Is A Lemon

Money is typically the last thing on your mind while sitting quietly beside the bed of someone you love and realizing they may not be with you tomorrow.

However, circumstances dictated my thought process a little different. 

This past week I once again was given the opportunity to teach local school children how to own and operate a Lemonade Stand. As one hundred 5^th graders listened intently, I spoke to them about the expense, income and possible profit of a lemonade stand.  Having taught this class multiple times, it seemed to roll off my tongue even when my heart was somewhere totally different.

You see the next day I would go to see my 13 year old nephew who was battling cancer and losing the fight. As I sat in his dark room with only a lamp on, praying and seeking answers, I couldn’t help but reflect on the faces of the boys and girls I taught the day before.  “Did they realize the possibilities, the opportunities they have? The ones this sweet boy would never have. Did they even understand the only thing that stands in the way of their success was them”? Maybe not, but I felt stronger than ever that it is our responsibility to teach and encourage them to turn lemons into lemonade. Because I firmly believe this generation will move mountains through difficult times and will personally be able to save the lives of cancer patients. And who knows, maybe they will say “their path to success started with a lemonade stand”!

{Note: On April 23rd, 2016, my nephew went home to be with Jesus}

LET THEM DAB!

Saturday morning, while in my kitchen cleaning, I received a text. “Can you meet us to film a video about saving money?”  Hum, definitely a first for this old banker and all I could say was, “what time?”

Of course as they begin to film, I was so amazed by the thought, effort and the direction that went into this Millennial- driven, financial education video.   Armed with camera and script, this group of young people had a vision to “teach” their peers the power of saving money. 

While many in our industry consistently talk about how to reach millennials, watching this group reminded me, why “we don’t get it”.  First there was the dab (hum… didn’t see that coming), a move that is a celebratory form of expression.  Now, while I did recognize the familiar Adele tune, this multi-cultured group of young people sang with not a care of whom or what was listening. They also allowed it to be videoed without practicing it…completely off the cuff and not a concern if hair was in the right place (this alone would have made me crazy)!

Finally, I quickly recognized it was their agenda and their time.  Apparently “they” had already sent multiple texts between each other to meet.  Several had previous obligations; however, the consensus was to let everyone “film” around their time-line.  One dropped by long enough to do her part before heading to a family function; others simply would meet up later. But no one was stressing over “trying” to get everyone there at a certain time, yet everyone participated.   As I stood watching and listening to them have multiple conversations, from religious dietary restriction to how many of them would hang-out later, to simply being driven to complete the task at hand, I realized “they get it”.  I also realized the only way we will reach this group of compassionate, family/friend focused, brilliant, innovative, and have-to-do-it-my-way-and-on-my-time generation; is to let them do the dabbing.    

Man Named Bubble Gum

I’m always amazed how teaching financial education is made simplest when it has a face.  While this blog’s theme is “Life enhanced through financial education” also known as LEFTe ™, I was reminded recently that giving must be talked about when teaching financial education.

There was no better picture of this than my sweet mother-in-law. This lady raised five boys, ran a business and recognized the need to purchase property in the 60’s. However, I often heard the story from my husband and his brothers how their mother would on a regular basis set out to take their father his lunch and would show up empty handed.  Her usual response was, “I saw someone that needed it more than you Jimmy, and sometimes that someone’s name was “Bubble Gum”.  

This week while teaching a budgeting class to a group of seniors, the statement was made that charity was indeed a budgeting item for them to consider.  Several students questioned, “If this was something they had to do?” It also appeared when expense seemed to be more than the income, a few students thought of cutting charity first.  I found myself having a hard time justifying their need for a cellphone over giving to their local Church or Charity.  Now, while I firmly believe in tithing to my local Church, it seemed that others attitude of giving was based on individuals not necessity.

As I attended Church that night, the message seemed to verify my thought process that investing in others has to be just as much a part of our financial footprint as saving for a rainy day. Then my husband leaned over and said, “Remember the bicycle” as if to read my thoughts! As I smiled, I recalled attending his sweet mother’s visitation prior to her funeral. Many spoke of the business that she and my father-in-law had owned as well as her personality full of character. However, most recalled her kindness to those less fortunate and the impact she had made on them.  As we left the packed chapel, I noticed a man on a bicycle right outside the door.  I said to my husband, “who is that”?  He simply replied, “that’s Bubble Gum”.   

Amazing Teen

For the past 8 years I have been a banker for the Teen Maze sponsored by the Mitchell County Children and Youth.  I stand behind my designated table with anticipation waiting as the 8^th graders from all over Mitchell County to come to the bank to borrow money.  Students are given life scenarios and presented with life situations based on decisions. Some involve the need to borrow money. 

My routine for the past 8 years has been to ask the student, “why do you need to borrow money and how do you plan to pay me back”. After some discussion, finding a job seems to be the logical answer.  I also give the student a “credit application” which follows with me stating “this is a promise that you will pay me back”.   I then extend my hand, and ask the student to shake on it. I also explain that their credit is a form of “Character”. I remind them they are agreeing to pay the bank back, and I trust them to do what they say they will do.

While my portion of the learning experience is over when the students leave the bank, I have witnessed students continuing through the Maze.  Some step on the stage to receive their high school diploma and I have even witnessed some going to jail and on occasion a few have actually looked at their reflection in a mirror placed inside a coffin.

However, this year I was totally blown away by the return of a PCMS student. As the Teen Maze ended and all the students were leaving, I noticed a big teddy bear looking young man approaching me.  I immediately said, “Do you need more money? to which he replied No’Mam, I became successful and I am here to keep my promise and pay you back”.  My mouth dropped, I just wanted to hug him.   This truly was a first!  Now, I can’t tell you what prompted this 8th grader to come back and do the right thing.  Was this character taught at home or at school? Did I or one of the other presenters say something that made a lasting impression or maybe it was a culmination of many things?  Whatever it was gave me a renewed hope in this generation and even a little pep in my step.  

Yep, I’m ready for next year…Bring It On!

Make Sure They Know

If the real meaning of who we are is built on our belief system, our values and ultimately identifies us as individuals, then when looking around me, I can’t help but wonder what my future generations’ identity will look like.

You may find this hard to believe, but I don’t mean their financial future.  I am concerned that MY future generations will be robbed of a critical part of their family story and face a loss of their family heritage. Simply put, I don’t want our southern culture, and specifically, our core values to deteriorate and disappear forever.

I want my grandchildren to know where they come from.   Now, I don’t mean the part where people assume that because you are from the south that you are backwooded, (southern term) and uneducated.  I’m talking about all that is good and right, like knowing that respect for the elderly is expected and saying please and thank you is not a suggestion.  I want them to know that being kind is never wrong and being mean is never right.  I want them to know that even though their path may take them far away it’s never too late to come home and most of all the faith of their grandmother was real.

I want them to understand the value of community, the benefits that come from it and the best things in life really are free, like riding your bicycle through town and everyone waiving and saying hello. I want them to understand they better “act right” because someone will tell on them.

As we begin a new year, I resolve to make sure I tell them the stories I remember and encourage them to spend time listening to my parents tell their story. I will also remind them that everyone is not replaceable so be careful who you hurt. AND yes, I want them to know the value of a dollar and that having lots doesn’t make you rich just as having little doesn’t make you poor.

Happy New Year!