I was traveling in Canada recently and experienced a unique moment.
As I was standing in Canadian Customs, I observed a young child carrying a carton of cigarettes that had two unique warnings on it:
- “Smoking kills”
- “Smokers die younger”
It has been proven beyond a shadow of doubt that these warnings are true, so it was sad to see a child carrying this carton for their parent who was ignoring the warnings.
The same is true for our finances. We see warning signs, but too many times we choose to ignore them. Warnings like:
- Money fights are the number one cause of divorce
- Bankruptcy once equals a second bankruptcy in 50% of cases
- No savings equals no margin equals STRESS
- No budget leads to blown money and opportunities
- No plan leads to an unfulfilled life
Yet, we choose to ignore the warnings. Just like the smoker decides to stop smoking when diagnosed with lung cancer, emphysema, or heart disease, we choose to start saving when we are laid off of work. We finally start saving for retirement when we realize we are five years away from retirement age. We finally want to start talking with our spouse about money after they finally have enough of our terrible money decisions.
QUESTION:Should your finances have a warning label on them? If so, what would the warning label say?