Investing Philosophy

Growing up, I was quite cynical. I had an unhealthy outlook and lifestyle that reflected that attitude. This led to a lot of bad situations, poor health, and many regrets. Reversing an attitude means addressing the patterns that support it. This process can take a while. I’m coming to believe it’s a lifelong journey.

I think of good money management as just one aspect of life. It’s just as important as eating healthy, having an active, balanced lifestyle, and fostering positive relationships personally and professionally. I think most of us want to live a long happy, healthy, and financially comfortable life. To me, personal wealth and success exist because of a good balance among the following:

  • Having goals
  • Supporting these goals with well-thought out plans
  • Hard work, perseverance, and discipline
  • Living and thinking positively
  • Being kind and respectful
  • Pursuing health
  • Respecting your hard work through thoughtful spending
  • Constant self-improvement
  • Avoiding stressful choices

Managing to do these things all the time might be asking too much of yourself. However, it’s possible to make decent progress as we set bigger long-term goals and work towards them via smaller, short-term goals. Practice makes progress. The perfection we might be looking for actually exists in each moment along the way. Perfection is not a final, absolute state that appears at the finish line. All those small victories–whether or not they’re exactly what you expected–are what build you and your life.

The StickK Challenge to Lose Weight

Having said all that, I’m going to talk about the results of my StickK Challenge which I just completed this week. It was a two-month long challenge where I was to lose a certain amount of weight. Health is a form of wealth, and for a bit, I had lost my way. Last summer I pigged out on way too much ice cream for two months and found myself in an unhappy place physically, emotionally, and mentally. I wanted to work off last summer’s indulgence to get back to my healthy weight. I needed the motivation of losing money to make it happen. And it worked! Kinda… 

So this is how it works. You sign up with StickK and set your goal and the time frame you’d like to accomplish it in. You also put money on the line, so if you don’t meet your goals, you have to pay whatever amount you can’t bear to lose. You decide what amount is enough to motivate you to hit your goal. The challenge is not effective until you submit your credit card.

The challenge is broken up into increments. If you want to lose 10 lbs in 10 weeks, then you have to lose 1 pound per week. If you decided to put $1000 on the line, then you stand to lose $100 for each week you don’t hit your target. The money can go to someone you designate or to a charity of StickK’s choice. (Apparently, the people most successful with their StickK challenges were those who decided to pay someone they disliked.) If you meet the weekly requirement, you get to keep your money that week.

So let’s say on Week 5 you reported your weight, but you didn’t hit your target for that week, you only lost half a pound. You’re charged $100 that week. The following week, you’re expected to lose 1 pound — you’re not expected to lose 1.5 lbs to catch up. StickK adjusts the end goal but you’re still expected to lose weight at the same rate.  

I was unsuccessful for two periods, so I had to pay up twice. I found when I was unsuccessful, I got more motivated to get more consistent with my level of activity, sleep, and healthy eating (helpful tip: garlic helps you shed weight!). The end result: I missed my final goal by a small amount but I’m now back in my ideal weight range; I also lost a bit of money in the process. Had I not done the challenge, that same amount of money might have been spent on the same not-so-great food I was eating.

The challenge was totally worth it. I’ve got a better awareness of how much more active I should be and how much more I could improve my diet. For a while, I thought I was already doing all the right things and that nothing was working anymore because something broke in the metabolism department. But as my workout guru, Jillian Michaels, says, “There’s always an ‘UP’ button.” I hit that button by using the fear of losing money to motivate me and that motivation took me to a happier, healthier, and stronger place.

Thanks StickK! You took my money, but it was worth it!

 

 

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