Sunday, September 13, 2009

Five and Five Exercise

From the book -"The Cure for Money Madness":

Name the five biggest purchases you made over the last five years.  How often and how much do you still use these items - and do they mean as much now as they seemed to just before you bought them?

Now name the five things you really value out of all the things you have -- both material and nonmaterial possessions.  Assume you have to give away everything except these five.  What are they --- the top five things you will hold onto no matter what?

Why do this exercise - to determine if you can tame your money monster and find your sufficiency.

I would even change the exercise to be----- name your top 5 all time wants that involved a purchase or expenditure (something beyond what you need like a house, car etc).  You can list a need if it combines the need with an extra "add-on want" (like buying a Cadillac vs Buick).
And for the value of things -   list 5 material possessions and list 5 nonmaterial possessions.

So what are mine (and some combined with Susan):
(1)  Big Screen TV, Blu-Ray and Surround Sound System -  2007-2009
(2)  Remodel Kitchen and Family Room (extras  Thermador, Remote Fireplace, Generator) - 2009
(3)  Masters Tennis Box Seats (1991-2009)
(4)  Dell Large Screen Projector (2003)
(5)  Weber Grill (2006)

OK now the 5 material possessions I would hold on (not in order):
(1) Oriental Rug -  Because it was payment for a consulting job I did and an antique investment of value
(2)  Daredevil Comic Collection -  after 40 years of collecting the 500th  issue just came out
(3) My Home Movies and Picture Albums
(4) My Laptop Computer- because it has emails from loved ones
(5) Masters Tennis Box Seats - if it continues to draw family and friends together
And the non material possessions:
(1) My Health
(2) My Family
(3) My Close Friends
(4) My Love of Learning
(5) My Pets

So what does this tell me? - The real meaningful things can't really be bought with money - they are the things that come with investment of time.  They are primarily relationship related and life (memory) related.




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