As my previous expositions on dudes have indicated, balance is key in any and every facet of a true dudes life. One of the most challenging arenas in which to locate and maintain a proper equilibrium is in the area of finances. This week's issue will discuss common mistakes made by even the truest of dudes and offer insight into how to properly manage one's cash flow.
Tightwad:
The Tightwad is the individual who refuses to spend his money, regardless of value, need, or occasion. He does not have a specific saving goal in mind, but simply believes in his tiny little heart that spending money is an activity reserved solely for Beelzebub and his offspring. This guy is most often found at garage sales (looking for Christmas gifts for his wife), the bank making a deposit, or in his office reviewing his investments and bank account info.
Splurger:
The Splurger is the person who spends every cent of their income, regardless of value, need, or occasion. He buys on every whim, whiff, or want. This individual is typically seen wandering around malls and stores, and is often known by name because he frequents the establishment so regularly. He is lucky if he checks his bank statement online once a month because he utilizes credit cards to gratify his numerous desires instantaneously.
Rather than focusing on the negative aspects of money management, I have chosen to explain the two positive (and very practical) principles of frugality and generosity that must be juggled to achieve balance.
Frugality:
This concept is quite different than the approach taken by the tightwad. It focuses on 1). Working hard, 2). Avoiding extraneous purchases 3). Finding the best prices. First, frugal dudes work harder and more diligently than the average people. Rather than cutting out of the office or leaving the construction site early on a Friday, they stay until 5:00 so that they reach their weekly 40 hours. Secondly, dudes don't buy crap they don't need - like 17 pairs of shoes, a huge yacht, or a case of beer every weekend. Finally, frugal dudes do not pay extra for a brand name or logo when a generic brand is of equal quality. You wouldn't pay extra for Chiquita bananas just because they put that little blue sticker on the peel. So why pay $35,000 for a luxury automobile when a quality pre-owned Volvo costs half as much (I try to contain my love for Volvos, but I swear it is a genetically inherited trait).
Generosity:
This idea is more complex than simply giving change to a homeless guy or putting a five dollar bill in the little red Salvation Army pot. Rather, it is a calculated, planned, and thought out spending program. The first and most important area of generosity is in tithing. I believe that giving God at LEAST 10% of my weekly paycheck(s) is not really generosity, but a spiritual discipline and a duty called for by Scripture. Secondly, I think it is proper to budget generosity. Plan to buy someone dinner or a gift once a month. (If you choose to buy dinner, I suggest giving a 20-25% tip - Why not?). Lastly, dudes know how to give good gifts. They spend time thinking what a person would enjoy receiving, and then they look around to find the best deal on that item. They do NOT simply go to a garage sale and find a cheap, half broken contraption to give - this is a tightwad practice and is very UN-DUDELIKE. Dude stores include TJ Maxx, Ross, Ollies (careful here though), and Big Lots because they carry high quality and brand name items at discount prices.
Admittedly, being a dude with your money is a challenge. But all you dudes love challenges and rise to the occasion, so no big deal, right?
Dude out,
-C.R.
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