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Monday, December 18, 2006

money makes waste?

You've all heard the old saying that "haste makes waste"...

I'm starting to believe that money also makes waste. What I mean by this is that when you have more money, you are more tempted to waste it. Perhaps it has more to do with how easy the money was obtained, as in "easy come, easy go."

All cliche sayings aside, it truly amazes me when people with lots of money seem to have never learned some of those basic lessons from our childhood that most of us take for granted. For example, finishing what you start before jumping on the next project. I have a friend, for example, that can't seem to finish anything, but he has about a zillion things started. He doesn't have lots of money, so he doesn't fit concisely into my example, but the observation is the same. He came from a good home, with relatively intelligent parents. Why was he never taught the patience and perseverance (not to mention the ultimate reward) to finish what he starts?

From a financial perspective, I guess what I am seeing is that people with more money are more likely to just "throw away" one unfinished project to pursue something new, seemingly unconcerned with the time and investment in the original project, because once again, "easy come, easy go."

I guess that, like anything in life, the value of investment is relative. If you can afford to throw away that investment (or write it off), then you probably will.

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