Tim Dibble
Nov 4 · 2 min read

I’m constantly saddened that we need another course on financial management or another example of how to make it financially in the world.

I wonder when in history did talking about finances become taboo? Downton Abbey portrays even the nobility of England as being financial neophytes. Pharohs bankrupted their country with profligate spending, Rome doomed itself with too much military spending and the Russians bankrupted themselves trying to compete and conquer Afghanistan (and after Afghanistan defeated Napoleon, the Roman Empire, the Nazis and the Russians, the US thought they could succeed?)

Financial naïveté is constantly part of American society. Businesses do not want employees talking about salaries, it upsets their negotiation strength when hiring and can cause distress in the workplace where people are horrible at measuring their contribution to the company. (John makes more than Jane! Discrimination or Contribution?)

Parents can’t talk with children outside lavishing them an unearned allowance. Children can’t talk with elderly parents in planning for end of life and estates lest they seem greedy and digging for gold. Schools aren’t allowed to teach finances because the financial services industry stands to lose too much power and prestige.

All financial advice comes down to the simple-spend less than you make and save carefully. Take calculated risks, but only when you understand them and have a recovery plan in place. Take on debt only for income producing assets. A mortgage may be okay, but only with the price of the home at 2–3x the annual income of the main income producer. Car loans are horrible ideas and need to be avoided. Student loans may be okay if they produce more income than their cost!

Good luck with your course, it’s one way for you to profit by trying to help others combat a system designed to keep them poor.

    Tim Dibble

    Written by

    Dogfather, smart-aleck, renaissance-like man in the modern world.