How To Stop Eating (and make money at the same time….)
By admin on Nov 16, 2009 in Food and Finance
Shut your eyes for a minute and imagine you longer struggle with food or money. You love your body and you don’t ever worry about your financial situation.
Pretty cool….huh?
Now come back.
If you’re like me, you struggle at times with (either or both) food and money. And if you’re like me, you’re sick of it.
I am. I’m really sick of wasting time dealing with food. (Fortunately, I feel pretty secure on my financial path at the moment even though I’m not at the Bill Gates level.)
But I can’t think of a single person I know who feels at peace with both their body and their balance sheet.
It occurred to me that both issues are really tied together.
1. We struggle with eating too much and spending too much.
2. We worry about looking fat and we worry about looking like a poor slob.
3. Should I starve myself? Should I go on a spending fast?
Food and finance are interconnected in other ways too. If I eat too much I’m going to have to spend more time and money at the gym trying to work off that double brownie chaser I ordered after the triple decker Rueben sandwich.. I’ll have to buy bigger clothes, I’ll have higher health and insurance costs and it will limit other areas of my life like travel.
The time has come to declare war on worrying about food and money. That worry has robbed us of too much of our lives and we’re taking it all back starting today.
I’m convinced that we can find solutions in the food court that also solve our financial woes. Here are a few ideas that came to me:
1. Eat slowly. Don’t put food in your mouth while you’re chewing. You’ll end up eating too much when you aren’t even hungry.
Money lesson: Take it easy.
Example. I rarely buy clothes because I don’t like shopping. When I do go looking for threads, I sometimes buy too many garments and do so too quickly. I just want to get it over with and make sure I won’t need to do it again for awhile. But the outcome is usually no good. I have to return half the clothes I buy once my wife sees what ridiculous choices I’ve made.
So, like the wisdom of not putting food in your mouth while you are chewing, it makes no sense to spend money ravenously. Slow d – o – w – n.
2. Sometimes, you’re just thirsty when you think you’re hungry. Again, if you make this mistake, you’ll eat too much. Try a glass of water before the buffalo wings.
Money lesson: Are you confusing the need to consume with some other need? Are you shopping when all you really need is to get some exercise to get rid of your energy? Do you make risky investments because you need some excitement?
Exercise. Go talk to some friends. Play a friendly game of cards. Take the dog on a walk. You may find your energy shift and save a bundle at the same time.
3. You can’t be full all the time. You’ll survive being hungry. It will pass.
Money lesson: It stinks, but we just have to do without sometimes. Sure we want to go to Paris, buy a new car, take that new pair of shoes home. We can’t always do that. It’s OK to be a little sad about having to say no to yourself. You’ll survive. Don’t expect to be in financial bliss 24/7. It ain’t the way the world works.
4, We can’t live on junk food alone. You might hate broccoli, but it loves you. If you eat what you want when you want you will end up an unhealthy person.
Money Lesson: It’s similar to the idea above. If you want to be financially healthy, you have to be willing to do things you may not want to do. Track your budget. Cut spending. Get out of debt. Invest for the future. You may enjoy doing this things but even if you don’t you must do these things if you want a solid financial future. Now drop and give me 20!
5. What works for others, may not work for you. Just because someone else found a plan that worked, it may not work for you.
Money Lesson: Be open to ideas. Take direction. Learn. Study. But understand that it’s much more important to have a plan you understand and stick to (with spending, debt and investing) than it is to have the perfect plan. In fact, there isn’t one. Once you find something that works for you……go for it.
6. You don’t need to have the body of Angelina or Brad to love yourself. I might work out like a banshee and eat like a bird. If I end up looking more like George Castanza than George Clooney, do I have to be miserable? No.
Money Lesson: Do the best you can and accept the things you can’t change. As you know, I’m a big believer in taking decisive action, getting out of your comfort zone, taking direction and then doing it.
You might do all these things, do your very best, and still not end up on the Forbes Richest People list next year. That doesn’t matter at all. Forget about it. You aren’t in a race here. You have a responsibility to yourself and your family. Do your very best and let the result go.
7. Just because you eat a Ding Dong doesn’t mean you are one.
Money Lesson: Nobody is perfect. If you blow your financial plan, just get back on the horse and try better next time. Try to find out what went wrong and take massive action to make sure it doesn’t repeat itself. Do you need a financial accountability partner? Do you need a new budget tracking plan? Do you need to start monthly family meetings?
Whatever it is, don’t dwell on past mistakes. Instead, spend that energy towards finding solutions for the future and forgive yourself.
Do you think that food and money are similar in the challenges they pose? How have you applied a solution to one to solve the other problem?
Like this article? You will love getting my free brilliant financial updates! No spam, and I won't give your email address to any other person or company.That's a personal promise. Neal Frankle, Certified Financial Planner, Los Angeles, California
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9 Comment(s)
By Avishag on Nov 16, 2009 | Reply
Hey, Neal!
Wow.. my first time visiting (ok.ok… so it took “food” to drag me in…:) ) and I love it! I agree with you about the corrolation between food and money – it seems to point to a pattern of behavior: Are we compulsive/emotional in our decision making or do we exercise self-control and use rational judgment? Are we mature adults who can delay satisfaction or have a juvenile side that demands instant gratification? Most of us have both, I suspect. We call the compulsive areas “our weaknesses”, and those are different from person to person depending on “what matters”. The goal should be to maximize our “right to choose” (i.e. be guided by our mind rather than our appetite, and that often means learning to be patient..
OK.. I can’t take it anymore – got to have my coffee!!!
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By Ken on Nov 16, 2009 | Reply
I agree that dieting and finances do have parallels. I’ve got to slow my consumption rate and increase energy (to earn more). If I consumed less I might not have to exercise as much. Neat. Great post!
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By Neal on Nov 16, 2009 | Reply
Avi, Thanks for a great and thoughtful comment!
I’m glad you have your coffee, I know now that all is OK in AH.
Ken,
Thanks for sharing. Clearly, you and I are in the same boat. Unfortunately, my daughter just made some chocolate chip cookies for her visiting dad. How can I refuse?
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By karyn on Nov 16, 2009 | Reply
This was very helpful for me. I find that I seem to do well with my eating and my finances – or I blow it with both of them. Seeing the parallels will help me to consider what’s going that’s prompting me to “lose it” in both fields.
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By Neal on Nov 17, 2009 | Reply
Karyn,
Awesome. I hope you’ll check in and let us all know how it’s going. It would help me I can tell you.
I blow it every day with the diet but I’m getting better. So I’m trying to stay focused on the wins.
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By Financial Samurai on Nov 17, 2009 | Reply
HAHAHAHA @ “Just because you eat a Ding Dong, you aren’t one.”
That was the best!
Neal, thought you were deplugging and going away on vacation?!
My internet broke last night, and it was quite liberating.
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Neal Reply:
November 17th, 2009 at 5:50 am
FS,
I am. While my kid is in class, I’m working. When she’s not at school, we’re chilling. Not too bad for a workaholic…right?
Thanks
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By Financial Samurai on Nov 17, 2009 | Reply
Neal, you sure you’re not chillin with her next to your computer?
Sam
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Neal Reply:
November 17th, 2009 at 6:37 am
Sam,
Promise….
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By Justin on Nov 18, 2009 | Reply
I love the comparison. What is your approach to good, healthy food, costing more than going to the fast food join and grabbing a dollar burger to stay full?
That is my recent food/finance conundrum.
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By LeanLifeCoach on Dec 29, 2009 | Reply
Is it time to put our money where our mouth is? Since losing weight is the most common New Year’s resolution, will it top out money related resolutions for you?
I think I’ve got the money under control… now the weight, argh.
LeanLifeCoach´s last blog ..Carnival of Debt Reduction – A New Year’s Resolution Guide
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