I am a consumer of financial literacy media. Books, articles, podcasts, and videos are read, listened to, and watched daily. One of the more interesting shows I have found is Kosher Money on Youtube. It is an Orthodox Jewish focused money show where the host interviews Jewish professionals in a variety of fields on money. Though I am personally not Jewish I think the Jewish people provide a lot of value on the topic and many other topics.
The professional interviewed today was Dr. Alper. She is a clinical psychologist and in her final question she spoke on the topic of how her grandparents asked “What can money do?” Whereas today she believes many people ask “What can money buy?” Though they are similar questions there is a distinct difference.
What can money do can be answered with the following:
- It can provide food for my family.
- It can provide an education for my children.
- It can allow me to spend more time with my family.
- It can provide security for when times are worse and comfort from just existing.
What can money buy can be answered with this set of answers:
- It can buy me that car.
- It can buy me that house.
- It can buy me that phone.
The first question provides needed items and items of enduring value. While the second question tends to feed our want for luxury. Money invested makes money and provides long term comfort that spending it immediately lacks.
Millionaire Librarian 