Money Isn't Everything, Even Though I Want More

I think about money often. Maybe too often.

Of course, part of that is built into my life as a producer of financial and business news. I also moonlighted as a professional tax preparer for many years and still take responsibility for my family's finances and tax returns. I'm an unwaveringly consistent investor and saver, as well as a Quicken fanatic who enjoys poring over its reports as if they were ancient tablets of wisdom. You could say I'm incurable. Or, as many of my family members like to say to me for no particular reason, "Go make a spreadsheet".

I also fantasize about what it would be like to have a lot more, especially when I drive by the New York Lotto billboard on the Cross Bronx Expressway each morning, which has the latest prize amount for the twice-weekly Mega Millions drawing prominently displayed.

But what I'm talking about here is not so much about wanting and having money as much as it is about how it can make people behave.

So I offer some guidelines that most definitely work for me, and might work for you, too. Or not.

1. If you're out to dinner with a group of friends, split the check evenly and just forget about it.

Hey, wasn't the point just to enjoy the company of other people and some good food? Who cares if your entree cost $2 less than someone else's? This is NOT worth making a fuss over, and next time, YOU can order the lobster thermidor and no one will blink. The next time you and 9 other people are looking over a check and trying to figure out who had what, feel free to tell everyone what some random blogger thinks!

2. Pick up the check once in a while.

Yes, I know I what I said in rule#1. Some people can't get past the idea of spending the extra money, but consider this: in two weeks, you won't miss or even remember what you spend showing your friends a good time, but the goodwill you generate will last a lifetime. And when you give, you get back. That's the fun part of being generous. You get it back in spades.

3. If you're buying something that you want and will use often, get the best or most suitable one, not the cheapest.

That doesn't mean you should seek out the highest price tag, but if you, for example, love barbecuing in the backyard, go ahead and get that Weber Genesis Gold and forego the Cheapo 200 which probably won't last as long nor be as good.

Or let's say you've decided to buy a flat panel TV, and there's some feature that you absolutely love and want, except that it'll cost $100 more. Trust me. Spend the $100. Again, in two weeks you won't miss the $100, but I can promise that the absence of that feature will bug you for a lifetime. Well, at least the TV's lifetime.

4. If you bought something and the price goes down later, don't agonize.

This happens most often, but not only, with electronics. You buy something and a year later you find the cost has dropped by 50%.

So what? You've had the enjoyment for a year, and most likely, it was 50% MORE for those who bought the year before you. So forget about it. Or go buy a second one and rejoice at what a great deal you got.

5. Don't drive all over the known universe trying to save a dollar.

I'm not just talking about gasoline prices here. I often experience shopping fatigue - where I've been to enough places to have a general idea of what something costs, and am ready to be done with the process. I place a very high value on my time, as you probably do. Buy what you need or want to buy, and go home.

Yes, I know many people are on budgets and have to watch their money closely, and believe me, I appreciate that. But trust me - these behaviors will make your life better and you know what? You'll wind up on the plus side of the ledger, in many ways that money can't measure.