Monday, July 10, 2006

Is $600K a Lot of Money?

Well, I suppose that depends.

As some of you know, we're building a new home here in Colorado. The house itself is going to be about %500k but then there's rear-yard landscaping, interior painting, and finishing the basement. So we're looking at pretty close to $600k when it's all said and done.

If you could get a yacht or a private jet at $600k, you'd be so thrilled, you'd probably get 2 of them. But if, say, a hamburger came with a $600k price tag, you'd probably rather starve. Or eat your own shoe.

So when people tell me they'd like to make lots of money, I'm always interested in what that means to them. In most cases, they have no idea - like no specific dollar amount in mind. And if you've been reading this blog for more than, say, a DAY, then you know I preach that you can't achieve your goals until you set specific goals. Period.

But I digress.

At any rate, it's interesting to watch people's reactions to money.

You know, I've noticed - some people will come right out and ask us how much our house costs. Others would flip out if I asked what they paid for their car. It's funny how people are around money.

Especially considering it's just ink on paper.

I can remember when I was growing up, we never talked about money. "Never sign ANYTHING without reading it" it about the only business advice my dad ever gave me. Good advice, but I could have used a lot more, I think. Don't worry, I've already started passing along my pearls of wisdom to my 2 1/2 year old. I give her 3 more years till she owns her own business. The other day, she walked into my office and said "Mommy, I need an office." I was surprised, but I got her a toddler-sized table and chair, and I set it up in a spot in her room (her Career gua, for those of you Feng Shui enthusiasts). I gave her a notebook and a pen (it seems a WEE bit premature to get her a laptop just yet) and she put her little fisher price phone on her desk. It's quite inspiring to watch.

But I digress.

We were talking about money and how peopel get wiggy about it. Especially about talking about it.

I have no problem talking about what things cost, what I paid or how much I make. Assuming hte person wants to know....I'm certainly not a braggart and I'm not obnoxious about it.

but some people are really uncomfortable around money.

Let me give you an example.

The other day, I was talking to someone, and they were telling me about their goals. They want to make enough money at their internet business to quit their job. So I asked them what that looked like - how much *exactly* would they need to make to give their notice at the job?

Not only were they flustered that I was basically asking them how much they make, but they didn't even know -they couldn't answer hte qeustion! "Well, I don't really know - there's health care to consider, and benefits, and stability, and, and, and..."

Do you get that this person is NEVER going to leave their job until they get clear about what it's going to take to leave their job?

And they'd better start getting A LOT more comfortable around money if they want more of it. You can't get rich if you're afraid of money! And even if you could, you'd lose it just as fast.

So it's interesting to see the way people react about the $600k price tag of our new house.

It seems perfectly fine to me. I suppose if it made me nervous, I'd have no business getting into a mortgage that size. My friends who own $1million+ homes, are like "Great! That's so great - good for you."

My friends who own $100k+ homes are shocked, and dare I say, appalled. Who knows why they're so shocked? Well, for one thing, we don't exactly dress like we have money. So maybe they just didn't know how much we make. Or maybe they can't believe someone their age can afford a house like that. Or maybe they think the money would be better-spent elsehwere. Or they don't understand why we require 4,000 square feet (although I certainly understand why we do - and yet, I don't feel the need to justify it here, which is refreshing for me).

I suppose there's a lot of things going through their head when they hear "$600,000 home."

But it all comes down to 1 thing:

People put meaning on money.

Money has no meaning, other than what we attach to it. None. If you met a homeless person in some teeny-tiny little country (I won't show my geographic ignorance just now) and gave him a $100 bill, I doubt he'd be excited. He'd probably throw it away. Or wrap a wounded finger in it. Or fuel a fire to keep warm. Or use it to wipe his butt. I don't know.

But if you handed a $100 bill to a homeless person in Detroit, he'd probably poop a brick.

Meaning. It's a killer.

If you're thinking "but wait, money really does have meaning - just look..." then you deserve to practice these:

1 - Practice saying "it's only money." Say it long enough and you'll start to believe it. THEN watch what happens.

2 - Practice affirming "My every need is met instantaneously, with ease and velocity."

3 - Practice generosity only for the sake of generosity and watch what happens.

4 - Practice blessing money you send forth in the form of paying bills, paying the check at a restaurant, buying stuff you want and need, and giving freely. Bless it as it goes forth and see it multiplying and returning to you in unexpected ways.

5 - when you balance your checkbook, remember that it's only numbers. It doesn't mean ANYTHING except what you make it mean.

No QoD today - your homework is the 5 practice exercises above...I can't wait to hear what you create!

P.S. It really is only money. Just ink on paper. And there's enough for you, for me, for everyone on the planet to have as much as they can stand to receive. REALLY!

4 Comments:

At 4:59 PM , Anonymous Anonymous said...

No, $600k is not a lot of money, but it's a good start!

 
At 9:18 AM , Anonymous Anonymous said...

hey there,
I think ur blog is really good, I like ur mentality abt this money thing.

PS: Are you a network marketer?

 
At 8:30 AM , Anonymous Anonymous said...

Hi Amy, There are two main principles I use that apply to perhaps every situation in life.
Everything's relative and Perspective.

Is 600k alot of money? Where I live, in Burlington ,the town next to Oakville thete are many homes that sell in the 15million range. So what is 600K?:barely a down payment. on the other side of us there is Hamilton and Stoney Creek where one can by a home for 120,000.
Are we comparing apples to apples here though- 10,000 ++sq.feet verus 700 to 1000. The latest features and finishes versus simply functional space. But to people in their own unique situations perhaps a roof, running and flushing water and electricity are adequate. Isn't a huge part of this baby boom culture more focused on style over substance and pretentiousness rather than practicality? ( I always find it ironic that the older boomers were the hippies and have pretty much reversed all their non materialistic philosphys in favour of the Good Life. Having said that a positive offshoot is the whole foods/wellness lifestyle espoused by many of us, I just squeeze into the boomer demographic.
I digress.
I think what I'm saying supports your post and example about the homeless persons reaction to 100 bucks. Relative, and perspective- depending on your view and outlook and relationship to money.
Thanks, Steve

 
At 12:52 AM , Anonymous Anonymous said...

Ed - nice perspective // christabelle - thanks! formerly network marketing, yes. it's where I was first introduced to the money mindset // steve - thanks for your comment. I like your rambling style - it reminds me of someone...

 

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