Whaaaaaaat it is Friday again, we are almost a quarter through 2020, I can’t believe how fast it is going! Last weekend was a great weekend, it was little Stella’s birthday earlier this week so last weekend Leish organised a sleepover part at our house for Stella and her friends. A couple of weeks prior Leisha cam across a great concept of a tepee slumber party and there are actually companies out there that hire out and set up a tepee slumber party with all the trimmings including air beds, gifts, dinner trays etc, even for someone as uncultured
as me to be fair it looked pretty cool.
So where does our FI journey fit into this story, well when contacting the various companies that set up these tepee slumber parties, Leish had narrowed it down to a cost-effective one that on first impressions seemed like they would fit the bill, however, Leish quickly got concerned with the lack of communication, despite requests for confirmation of booking etc. Luckily no money had changed hands and whilst all this was going on it ignited the entrepreneurial fire within Leish and she thought well there is no reason why she couldn’t design and set up
something very similar and have a lot of fun in the process. After costing all items up, it worked out fairly similar to what it would cost to hire and Leish could add extra touches (like her flowers) to make it even more luxurious. Financially the biggest benefit means that we become 100% owners in these items which got Leish thinking if she could compete in the same industry but after talking it through we decided that wasn’t a great return for effort and risk and we would be best focussing our energy on Aleisha’s current business. However, in very simple financial terms it means we now have assets with a value-add attached to them as Leish has shown how they can be put together for other slumber parties, so we can on-sell them making the slumber party cost neutral and it meant so much to Stella and Leish had so much fun, even to the extent that if Stella hadn’t wanted this style of slumber party I wouldn’t have put it past Leish organising one for herself!
So another great reminder that an FI journey should be about happiness and contentment and not just the money and sometimes as in this case it can really be about both – sometimes the most cost-effective option is the most rewarding, fun-filled and meaningful. So make sure you consider all of your options in this context and search out these hidden gems of opportunities. Given current times this is quite prevalent and a useful reminder. This black swan of a virus that has now truly nosedived out of the blue and descended on the entire globe has been fascinating to observe in terms of human behaviour and from an economic point of view relating
back to the ‘herd mentality’ of Keynesian economics I studied during my MBA. What is most apparent to me is that although the virus can have deadly consequences for those at risk, and this is a terrible thing and something that should be avoided given the fast spread of the virus, what is spreading just as fast if not faster is worldwide hysteria and I think this is fuelled by the social media age that is far more developed than the previous Global Financial Crisis.
I am not going to speak from a medical perspective as I quite literally have zero expertise in this area, so all you and I can do is follow the common sense good hygienic advice been provided by the experts. But from an economic perspective, we really need to be careful and understand how easy it is to get caught up in the hype and within seconds engage with the ‘herd’ on social media. I believe this fuels the negative economic consequences, those which we are already seeing such as crashes in the stock and foreign exchange markets.
Yes, we all need to be cautious but let’s put things into perspective and before we all rush to buy toilet paper or start warning about the apocalypse from our keyboards and mobile phone let’s take a step back and look at the underlying fundamentals. For those of us already on an FI journey we have already cut back and living well within our means, this is a good opportunity for others to learn and benefit from these principles but there are little need and no value in doing this from a position of panic and wild spread hysteria as this can only make the economic effects far worse than they need to be.
Let’s have faith in the development of humanity, we have extremely clever scientists across the globe, a vaccine will be created, so in the meantime, let’s follow the common-sense hygienic principles that we all deep down know and fully understand, let’s just actually practice them and keep as healthy as we possibly can be. Then in what could be a relatively short amount of time things will settle and we can move forward with our lives – until the next crises where we will all lose our shit again! And quickly forget about how we dealt with the last crisis!
Like with all extremes, good and bad and particularly the bad this creates huge learning opportunities and opportunities to develop ourselves personally and as a community so let’s thank this black swan for that at least. Look after yourselves and each other, and don’t lose your shit let’s put things into perspective… until next time… happy fiday.