You’ve likely read that our childhood experiences often linger through adulthood and influence our decisions with money.
As someone very curious about all things money I think about this phenomenon a lot. Seven Stages of Money Maturity was probably the first book that really brought this to the forefront for me.
I remember reading the book, answer the questions within it, and got inspired to fix some of those issues. It was the summer before I was having my first child.
Ultimately, this lead to seeking out a “money coach” to talk through those issues and see what I could do to fix them. My experience with that was overall positive, but that’s a story for another day.
Even with this hyperawareness around my unconscious biases and willingness to fix them, I still find myself falling prey to these old habits.
This weekend I spent at least 10 hours on deck demolition. Our deck was old and rotted. I had in mind what it would cost to replace the deck.
We ultimately got a quote right at the number I expected… without demo costs.
Oh hey, if we just demo it ourselves then we’re right on budget. Boom!
“Penny-wise, pound foolish” to save a few hundred dollars. Why?
Because I my default decision is to find ways to… spend less.
Yeah, I spending less should include analysis of your time. I get it. I’m crazy aware of it but… old habits die hard!
It reminds me of the time I chose to mud and tape our basement bathroom. This was definitely double-digit hours and you can tell it was done by a noob. FWIW – mud and taping drywall is an art!
Here are a few more justifications I like to give myself for engaging in awful projects:
- Displaying my badassity through my Mustachianism
- My in-laws are DIY project people, so now I can prove to them how I’m cool like them
- It’s a version of exercise <– this is the most ridiculous excuse IMO
There is some perceived value I have in showing my sons how to do some projects. Learning some DIY home skills seems important. The ability for small fixes around the house is a cost reduction strategy. It can also lead to a hobby like woodworking.
Going forward my promise to myself is to:
Only do home projects that are an expression of creativity or family unity.
- Is this project a form of art?
- Is this project something I can include my wife and/or son(s) with?
If the answer to both questions is no, then STOP AND HIRE SOMEONE!
If I’m not willing to pay real money to someone, then it’s not worth my time. It’s simple math!
What about you? What are some old habits that won’t go away for you?
