A lack of financial literacy is the primary reason for our country’s economic decline. We mistakenly attribute our poor financial situation to our “less-than-desirable” income, but in reality, this is just an attempt at deflection.

Most of us will frivolously and unwittingly lose a fortune in our lifetimes.

Let me tell you a quick tale to show you how often this occurs.

Even though this happened to me over twenty years ago, I still recall every detail. While drinking at a patio bar in Kingston one afternoon, I overheard a discussion between the three proprietors. Brothers Andy, Tom, and Mike were the company’s owners. In aged late twenties to early thirties, these men were full of life and testosterone.

Andy was the eldest. Therefore, he had the last say on most issues between the brothers.

Tom entered the pub raving that he had just gotten four “free” tickets to see the Blue Jays in Toronto.

The excitement of this may be lost on those unfamiliar with baseball. If you’re a baseball fan, you might wonder what the big deal is about the Blue Jays winning the World Series in the brand-new, cutting-edge retractable SkyDome, where tickets were practically impossible.

Tom told Andy that the tickets were valued at least $200 and that they had better make plans soon because the game was just two days away (even though they were free).

Andy either stopped smoking or used the plastic straws as stress beads because they were always in his mouth. Andy sat down at a nearby table and pondered Tom’s offer while chewing the straw to his drink. Andy hesitated briefly, then replied honestly that he couldn’t afford to travel.

When Mike, the youngest brother, overheard Andy say he couldn’t afford to travel, he nearly lost it across the bar. “What are you not understanding about free?” he said as he ran over to argue with his older brother. Mike was indignant: “How can you not afford free?”

Andy had some profound ideas. He rarely made snap judgments. He truly rethought the situation for a few more moments as he chewed on his straw. Andy hesitated while Mike and Tom hovered, then responded, “Nope. I can’t swing it right now.

Andy, THE TICKETS ARE FREE!” Tom yelled at the top of his voice in exasperation. ZERO COST! FREE!”

Andy’s frustration finally boiled over. “Free? Free? Are you two completely insane? The meaning of “free tickets” remains unclear. I don’t know why it’s so hard for you to grasp that I don’t have the cash. Let me explain it to you in simple terms! I believe kickoff is at 1:00. Add $30 to the price of a tank of gas due to our three-hour round-trip commute. The cost to park is $25. I anticipate you guys will be imbibing a few beers during the game, so let’s budget an additional $30. I also expect you will want to go out to eat after the game while in Toronto, so let’s add another $200. I also know that you’ll want to hit up some clubs after dinner, so let’s throw another $200 at the bill for that, and it’s a good bet that none of us will be in any shape to drive the three hours home, so let’s throw another $200 at the bill for a hotel room.

“Now,” Andy added, “stop me if anything I’m saying isn’t making sense. Let’s add another $30 to cover Sunday morning’s motel breakfast because I know you guys will be greedy when we eventually get up.

Andy took a moment to add the figures he had written down while he spoke. He finished the calculation and tossed the pencil, saying, “Your free tickets will cost us $715.”

A moment of startled quiet followed. By this time, most of the bar’s occupants had tuned in, and during Andy’s calculations, there was a brief silence.

Oddly enough, Andy was the one who initiated the conversation. Laughing heartily, he added, “All right, let’s get going. Don’t try to tell me you received ‘free’ tickets since it’ll make me think it won’t cost anything.

We all laughed at Andy’s reaction, but I won’t soon forget the lesson it taught me.

Andy wanted to go to the game but also knew he probably shouldn’t because of money or whatever the case may have been. The intriguing part is that Andy was the only one to consider the big picture.

From time to time, we all make choices and act in ways that we know may have undesirable outcomes. What matters is that our awareness and information inform our choices. Andy understood he shouldn’t go to the game due to financial constraints, but he may have ignored those constraints since he wanted to spend time with his brothers. I didn’t bother to find out why he reversed course, and I don’t think it matters. The implication is that Andy deliberated the issue, considered all of the consequences, and acted consciously.

That’s the primary takeaway for today. It would be best to do what you feel is correct, but be wary of sales tactics like offering “free” tickets or “free” vouchers. Advertisers routinely employ these strategies with positive results. They entice us with freebies like weekend trips or gift certificates, and before we realize it, we’ve spent considerably more money than we had planned.

Be conscious and have open eyes about how you spend, save, and invest your hard-earned cash.

Richard Fast has spent the past twenty years perfecting his 29 DAYS framework, which he has used to create more than thirty different toys, games, puzzles, and books.

Like the rest of us, he had been taught that altering one’s outlook on life would lead to corresponding results. However, how can we go about changing our mentality?

By employing the same cognitive processes that led to current habits, Richard found that it is possible to transform core concepts into desired new routines.

Richard’s 29-day change plan employs scientifically-proven methods, cutting-edge tools, and virtual mentorship to help you rewire your brain and establish more positive patterns of thought and behavior.

Richard Fast’s 29 Days… guides frugal living and financial freedom.

Read also: https://cnnislands.com/finance/