In the May issue of NY Magazine, there is an article which asks “Are You Suffering from Perfection Anxiety?” , which quotes an article by AA Gill in a recent Vanity Fair (I’d provide a link, but it doesn’t come up easily – too much traffic?). Though I assume the article is more than a bit tongue-in-cheek, it got me thinking about “comparanomics”(definition: having what someone ELSE has be the foundation for what YOU spend your time – and money – pursuing). As one art expert in the article points out: the return on a $60M piece of art is likely to be…below $60M – but doesn’t that assume it’s measured strictly in terms of $? What if the return was measured in impact: say the purchasers decided that the coast of installing complex security systems (or hire a manager or dedicated security person to watch over the painting) in their new LA home was more than they needed to pay – especially since they only intended to spend a month or so here and there in LA. So they decided to leave it in the museum where it resides – on the condition that they could close down the museum a few times a year for a select gathering of their closest friends and family – to get together, socialize and celebrate their great taste in art. So now, they have a beautiful painting, they have one less thing to worry about protecting, they will gain extra benefit (or at least studies show they have the potential to) and happiness by DOING something with the art instead of just HAVING it, and the museum will still have people flocking to see the art (in fact, attendance may rise because of the publicity). So: return = $ cost of art + impact? As they say in the MasterCard ad: “priceless”. How would that affect the perfection complex, I wonder?
“Literacy”, according to Webster’s dictionary, is “the ability to read and write”. So it follows that “Financial Literacy” is the ability to read and write numbers. When I first saw the term “Financial Intelligence” on the cover of the book by Karen Berman and Joe Knight, I thought “THAT’s what I’ve been looking for!” – because a lot of us can READ numbers, but what we really want to do is TRANSLATE the numbers and figure out what they are telling us. Right? Numbers are like a language – only easier: if I’m learning Spanish, I have to learn nouns, verbs and adjectives, feminine and masculine, past, present and future AND the grammar rules that give a sentence that wonderful rhythm – and meaning! Numbers don’t have tenses or genders or parts of speech – but they DO have meaning. Leave the complicated stuff to the professionals and learn the simple stuff: what is the story my numbers are telling me. If you need a translator at first, check out http://www.financedog.com or any of the books on “Financial Intelligence” at The Business Literacy Institute http://www.business-literacy.com. Before you know it, you’ll know your story – and you can begin to write the next chapters!
For a real light touch, if business books are not your thing, check out the Financial Intelligence graphic novel (okay – comic book) at http://www.business-literacy.com