the illusion of money

November 5, 2006

Really scraping around for an original thought today but I finally got there at 10pm!

Right, well, how does it go again?

Money is an illusion that distracts us from the true value of things. That’s why it’s dangerous. The camel and the eye of the needle etc.

When making decisions remove the money element. If choosing between options imagine that all the options are financially the same, then it’s easier to reach the right conclusion.

It works both ways: sometimes you have to spend more and sometimes less. It’s great to be frugal, not buying things you don’t need and there’s a certain freedom that comes from living with less. However frugality can also lead to hoarding and miser syndrome. It’s also good to be able to let go of the money – either spend a lot on something you really love or give it away to someone who really needs it.

If starting a new business, think about the product you are selling – will it benefit people? Is there a need? Will you enjoy doing this business? Don’t think dollars. Of course it’s very hard not to think dollars in this sense, but think about what you’re actually doing – first.

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