Before we talk about the right track for your finances, have I ever told you about the time that my appendix ruptured and I missed it? For over a year? Well, I told this story to my doctor friends and they all shrugged their shoulders and said, well, people’s bodies are so wonderfully different. That’s it. No wisdom. No explanation. Just that people are different.
I was reminded of this because every Friday at Mark’s Daily Apple, they run a success story. A few weeks ago, the success was a little controversial. The featured lady had plenty of smiling pictures, described her diet, and says she feels great. The problem – some people thought she wasn’t eating enough based on their own caloric estimates of her diet. You can’t have fewer than 1200 calories, they say.
Do others know your life better than you do?
This is an interesting criticism. Here’s this woman who has found this diet that works for her. She has tried it out and found that her energy and weight have greatly improved. She looks healthy. She doesn’t look underweight. And yet, internet strangers, who have probably never taken a nutrition course and have never met this woman, feel the need to question her lifestyle because they read somewhere on the Internet that 1200 calories is the minimum that any woman should eat.
Could it be that this woman doesn’t know how to take care of herself and is missing some huge impending problems? Sure, it’s possible. But should we give her the benefit of the doubt that maybe her body is different and that she knows what’s best for herself?
Probably. I mean, I certainly follow a strange diet that works for me. I told my doctor, like a good little patient and she said the same groundbreaking wisdom about nutrition I had heard on a podcast:
If it works for you, then it works.
People are different. What works for you might not work for me. And if it works for you, why should you stop doing it just because it doesn’t work for others? Why should you stop just because they’ve done some studies to say that it didn’t work for other people? If it works for you, maybe it just works, full stop. Maybe you don’t need to conduct a double blind study to prove its validity. It works in the only place it matters – in your life.
The same applies to personal finance.
How to get on the right track with your finances
Our budgets have different categories, different percentages. Savings rates differ. Our incomes are different. It’s easy to look at others and wonder how you’re doing comparatively. How do you know you’re on the right financial track?
- Are you making acceptable progress toward your financial goals?
- Does your plan make you feel calm about your finances?
- Is your lifestyle sustainable and does it make you happy?
I think we sometimes fall into the trap from our school days – assuming that there is just one right answer. For our lives, the right answers are less clear cut.
Every person is unique and what works for you won’t necessarily work for anyone else. It can be easy to be swayed by experts that pressure you to do things their way or even family or friends who don’t understand your way. You don’t have to convince anyone that your way works for them. The question to ask yourself is whether your financial plan makes sense for you. Let’s never forget that personal finance is not about math, it’s about fitting the money plan to the person. Whatever plan works for you – in that it’s something that advances you to your goals while letting you live your life – is the right track for your finances.