Look Through The Windshield

When Wayne Gretzky retired, commentators asked him what made him a great hockey player.  He stated that he does not skate to the puck, but rather, he skates to where the puck is going.  Interesting perspective.  I use this analogy in my workshops about money and how to spend it wisely.  Information in my workshops is something that is neither taught in school , nor taught in the home.

With that in mind, I'm excited that after five years and three months, the US Patent Office responded to my patent application for my spending management tool.  Although there are some modifications I must make, I'm thrilled they didn't decline my application.  For years I've taught this tool to participants in my workshops and they've asked, "What is the difference between Intuit's Quicken or Microsoft's Money, and The Financial Fuel Gauge TM [my product].  I tell them  that Quicken or Money only allow you to look through the rear view mirror of your car, while my product allows you to look through the windshield, and see where you're going.  I then add Wayne Gretzky's quote about skating to where the puck is going, so they can see that my tool does the same thing by allowing the user to look through the windshield and see where they are going.

In Sarah Kerner's article in the August 7th Dallas Morning News entitled "Real-World Frugality", she states several interesting and helpful observations on saving money.  The article is outlined so that she states the concept (the strategy), then talks about the reality, and concludes with a better way to perform the strategy, all of which I agree.  Kudos to Ms. Kerner.  When she wrote the better way to use Personal-financial software, Sarah quoted CFP Frannie Gardner, who stated the software doesn't do any good unless we step back and analyze the information we've input.  While I totally agree with that, I would like to add my thoughts.

Having worked with numerous clients (and their offspring) about how money works and the best way to use it, so it works best, I believe it's too late to look back and see where we've spent our money.  When we do that, aren't we really looking in the rear view mirror?  I believe what works best when we're driving the vehicle is to look through the windshield.  (Some Dallas drivers aren't fully aware of this concept.)  Thus, we can see if we're getting ready to make a mistake; in the case of my software, that mistake would be overspending.  It does no one any good to have a budget of $600 for groceries for the month, only to end the month and find out we've spent $743.  Well, I guess it does the grocer some good.

Let me ask you.  If you bought an airline ticket to let's say, Maui, got on the plane, watched it pull away from the gate, anticipated your arrival throughout the flight, and got really excited as the plane touched down, only to hear the pilot get on the PA system and say he'd made a mistake, that the plane had really just landed in Boise, Idaho, wouldn't you be more than mildly upset?

Folks, this is what we do each and every day.  We spend, spend, spend, and don't really know where we end up until it's too late and the plane has landed.  This means if we land at the end of each month in a place we didn't intend, we'll land at the end of our careers in a place nowhere near where we intended.

It's important that your personal-financial software allows you to see where you're going and make adjustments along the way, just as the airline pilot.  The only way to invest in your future is to first get out of debt.  The only way to get out of debt is to save money.  And, the only way to save money is to keep track of what you spend, as you are spending it.

Comments

[Paul Clarke]

Max,

Interresting concept on looking through the windshield. Prior planning has always been what management has been about. If you don't plan ahead, you'll never reach your goals, if you had any. I would be interested in seeing your spending management tool, the Financial Fuel Guage. Is it out yet?

Keep up the good work,

Paul