| I’m not sure who’s more excited about Sawyer doing so well at her weekend waitressing job at P. F. Chang’s, me for how she’s balancing her college classes with working, or her because she’s making good money. |
| I am impressed that she plans to save most of it so that she has a nest egg when she graduates. Too bad you did not have the same understanding of money when you were her age. Or, even when you were in your 20s or 30s. |
| You’re never going to let me forget that, are you? I can’t help that I found personal finance intimidating, so avoided it. Plus, it’s confusing. And tedious. And boring. |
| That is one way to look at it – but as you eventually learned, if you can add and subtract, you can “do” personal finance. But, you have made significant progress. You used to kick and scream about it; now you just whine. |
red head
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Black
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| Fine, but just because I now have a better understanding of personal finance, it doesn’t make it any more interesting. But just like brushing my teeth, I know it’s something I need to do because not doing it has repercussions. |
| Great analogy, especially as personal finance is important for everyone. |
| But just because something’s important doesn’t mean “everyone” wants to know about it, or do it. For years, we’ve been saying that people would rather be entertained than educated. |
|
I will never forget how
surprised I was that our book,
which was supposed to be the basis of a sitcom, ended up being a powerful way
to “teach” personal finance and other life lessons. I envisioned people enjoying
the sisterly banter and
all the other “characters”, so was focused on them, not the subject matter. |
| Yes, while I was focused on my personal crisis, you were busy turning it into a book – a brand – a business. |
| Once I realized that the most successful sitcoms were about relationships and basic day-to-day living, it seemed logical to use your financial predicament as the backdrop. It was never intended as a “laugh and learn”. |
|
Well, “I Love Lucy” never did an episode on her trying to understand
financial statements. And I doubt “Seinfeld” or “Friends” ever talked
about credit cards. |
| Missed opportunities. Think about our “Assets and Liabilities” story. You started freaking out at the mere mention of financial statements. Telling me how I was the MBA and you were the theater major. Then, when I thought I was making it easier by focusing on assets and liabilities, you completely lost it. Insisting you could not do this. Complaining that you hated math. Your theatrics alone would make it a funny scene. |
| Thanks. Happy to help! |
| Then, when I simplified it and said I wanted to talk about “what you own” versus “what you owe,” you calmed down. And, much to my amusement, you then declared that you could do that, just not assets and liabilities. |
| How was I supposed to know they were the same thing? |
|
The point is that it is a funny story. And one that many people
seem to enjoy, as many people can relate to
being intimidated by terminology. |
| That, and thinking that understanding, let alone “doing”, personal finance requires an MBA. Let’s face it, by creating mental roadblocks, I became my own worst enemy. |
| That is an understatement. But, that “character flaw” can lead to an assortment of amusing episodes. As does thinking that just having more money was the answer, not realizing the key was how you handled the money you had. That having more might mean larger mistakes. |
| Is this where you’re going to tell me about all the celebrities, athletes, and lottery winners who made (or won) millions, but ended up broke or in bankruptcy? I still love how you use Nicholas Cage and his purchase of two ‒ not one, but two ‒ castles to make that point! |
| If these people understood the basics of personal finance, they would have made very different decisions. It is as simple as money coming in and money going out. I guess no one asked them if they could add and subtract. |
| The first time you asked me that, I thought it was just another one of your sarcastic remarks. And whenever we tell that to people, whether an auditorium full of eighth-graders or one person in a business meeting, they always laugh. |
| I miss doing speaking engagements. I loved asking people how many like math. Everyone would look around to see who the nerds in the room were. Then when I asked how many like money, everyone’s hands went up. It is all in the packaging. |
| Which is why I’d love to circle back to the sitcom idea. But how do we get Hollywood to see that a sitcom about personal finance and other Life 101 topics could be successful? And funny! |
| Easy. By not telling them. We focus on the characters that are resonating with audiences of all ages ‒ a warm and fuzzy stay-at-home mom and her pragmatic and sarcastic retired executive sister who races Ferraris, who are surrounded by an assortment of other “characters”. |
| So, just totally ignore the “laugh and learn”. |
| When I first envisioned your crisis as a sitcom, I saw it as something to be disclosed on a need-to-know basis, and at the time, you did not need to know. This is no different. |
| Now that’s funny. |
Red
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Want to read other columns? Here's a list.
What does Thanksgiving have to do with shoes?! Or, the fact some of Red’s most memorable Thanksgiving celebrations happened when she lived overseas and introduced the holiday to friends, none of whom were American. But this column from 2022 is bittersweet for Black, as shortly after it ran, her good friend John passed away … yet the memories of Thanksgivings spent together – and of dear friends – live on. (But that still doesn’t explain the shoes …)
| At the risk of asking you a warm and fuzzy question, have you thought about what you’re most thankful for this Thanksgiving? |
| Yes. |
| I should’ve guessed that you’d take the question literally. Could you expand on that a little, or at least give me a hint? |
| Friends. |
| I should’ve guessed that too since John’s been in the hospital for the past several weeks and is one of your oldest friends. |
| Not sure “oldest” is the kindest way to define it, but he and his wife have been my closest friends for over 35 years. To the point that John calls me his “second wife,” although he’s only been legally married once. |
| That’s funny, but on my recent fall foliage trip, I realized it was so much more than chasing leaves as I experienced the joy and appreciation of visiting a dear friend and her family. And while phone calls, texting, and even FaceTime are great, it’s just not the same as spending time together. |
| I was going to mention that when you first told me you were going to see Sawyer in Nashville and also spend some time at Amy’s in east Tennessee, but figured you already knew that friendships can easily be taken for granted … until something makes you fully appreciate them. |
| That’s so true. Although I prefer to have a small group of friends, and most of mine I’ve known for decades – either from elementary school, college, or my years living in Hong Kong. Unfortunately, though, none of them now live near me. |
| Friends do not require living in the same town, although that is usually how friendships begin. And, while we may not stay in touch as frequently as we want, over time, we see who our true friends are … they are the ones who are always there for us, during good times and bad. And, in my case, are brave enough to point out when they do not agree with me. |
| Very brave. My friends have it easier, but I count on them to give me an honest perspective no matter what, although I prefer when they agree with me. |
| Of course, you do. And, your friends should be thankful you are so easygoing. |
| Well, at the risk of sounding corny, with Thanksgiving just days away, it’s the perfect time to be truly thankful for our dear friends. |
| It reminds me of the photo that Natasha sent us last year when she was celebrating “ Friendsgiving” with her friends in England. |
| Besides not realizing it was an actual thing and not Natasha combining the words “friends” and “Thanksgiving,” I was expecting photos of her attempt at making sweet potatoes or other traditional Thanksgiving foods , or maybe a bunch of Brits sitting around the table with the lone American. Not a photo of everyone’s shoes in the entry hallway. |
| I never thought of Thanksgiving as being “all about the shoes”, but that image sums up the true meaning of the holiday. |
| Tell the truth; everything’s always all about the shoes for you. But, given this Thanksgiving will be the first without Mom, the image’s a wonderful reminder of the importance of friends who’ve been there for me this year. And I include you as both family and friend. |
| Once is enough for me. And, as the saying goes, you cannot choose your family but (like shoes) you can choose your friends. So, pick carefully, and then appreciate them. |
Take a moment and imagine not being able to read this sentence. Now, think about this … if you’re reading this, you’re doing something millions of Americans can’t.
|
I’ll admit that I never realized how many people can’t read.
It’s something I’ve always taken for
granted. That’s until Black and I met
someone doing something about it – Jackie Aguilera, now the Project Manager for
the Mayor’s Office of Adult
Literacy (Houston). Her focus
wasn’t only on reading literacy but on “literacies” I’d never heard of, such as
financial literacy, health literacy, and digital literacy. But it all starts
with the ability to read. |
|
It
is called functional
literacy. Obviously, if you
are reading this article, you are on the internet. Which has more information than anyone can
possibly absorb (and is why news literacy is so critical). Now,
imagine if you could not read. All that
information … just sitting there.
Available to others, but not to you. |
|
Books are my great escape. Always have been. So, I can’t
imagine a life without them. |
|
A great escape … in many ways. You may use it to escape from the stresses of
daily life or just as entertainment. But,
books and, more specifically, the ability to read is how people can escape a
life of poverty and limited opportunities.
|
| Working with Jackie made me see that. As did our work with the criminal justice system, as so many incarcerated people struggle to read. And I know you’re a data geek, but please don’t start quoting me statistics. |
| OK, no statistics, but did you know that more people in the US are affected by low literacy (meaning they cannot read at a sixth-grade level) than are diagnosed with cancer or heart disease? |
Over the years, as we’ve learned how many people can’t read (including one in three Houstonians), it’s made us stop and think about how that impacts every aspect of their lives … their families … their communities. And also … our communities and our country.
As former First Lady Barbara Bush said many years ago,
If you help a person to read, then their opportunities in life will be endless.