Recently I was listening to Dave Ramsey as I was driving in my car. Many of you know that he is the financial guru on the radio, who gives excellent financial advice. His show is very interesting to me, primarily because of the people who call in to speak with him. I can hardly believe my ears when I hear some of the financial messes that people have created for themselves. However, I have been a member of that club, too! All of us are prone to do that from time to time. So, I am not saying that I think I am better or smarter than any of his callers; I just realize that all of us sometimes can make really poor choices when it comes to our finances.
As I listened to the show, a woman shared with Dave how she had recently gotten married. She went on to explain that her husband had previously bought a house with his former girlfriend. Her new husband wanted to remove his ex-girlfriend from the bank loan but the only way she would agree to it was for him to buy out the remainder of the loan that had not even come due. And, of course, she wanted to be bought out at top dollar. As you can imagine, the conversation spiraled downhill rather quickly! Dave’s advice was to NEVER buy anything with another person unless you are married to them. And, he went on to say that sometimes that was not even the best way to purchase something.
The next caller brought up a subject that certainly is familiar to many of us – the best way to purchase a new car. Dave Ramsey commented that he and his son had recently been shopping for cars and had come across a number of good buys. He said the biggest problem with buying a car, as with anything else, is that people are usually in a hurry. They want to make quick decisions without having adequate information. He went on to explain how important it is to do research and gather all of the details and data before making a final decision. He pointed out the fact that almost every advertisement and billboard says, “Hurry! Time is running out!” One of the most commonly used sales tactics is to try to create a sense of urgency that tempts people to purchase something before they have all of the necessary information they need to make a wise decision. It is not a patient process; it is a “hurry up” process.
As the show continued, many different people shared their financial circumstances and I could sense Dave Ramsey becoming a little frustrated. He finally made the comment, “Listen, people, whenever it comes to money, it all boils down to this; whoever has the most information and the most patience is going to win.” When he said that, I got out my handy notepad and pen and wrote that down. For the next few minutes, he discussed the fact that regardless of the circumstances in which you may find yourself, you need to gather plenty of information. You need to look at whatever you are doing as though it were a game by asking questions like, “How can I get more information?” “Who can I call?” “How can I find out who has been through a similar experience and how can I discover what they learned through the process?”
Information is important, but so is patience. It is vitally important not to be in a hurry. There is an old saying that I once saw on a wall somewhere that said, “The hurrier I go, the behinder I get!” That pretty much sums it up. That is what happens whenever we are in a hurry to do something. “Hurry” does not seem to be the wisest way to conduct business. However, patience, on the other hand, pays rich dividends and huge rewards to those who are willing to follow wise counsel.
This is true not only financially, but in relationships as well. Whether in business, family, professional or personal decisions, we are all better off when we have a lot of information from which we can draw our conclusions. And then, in addition to that, add patience, and that will help us to take our time and think twice before we do something. That is always a winning combination!
I certainly am going to heed the advice of getting more information and demonstrating patience in all of my endeavors. It seems to me that this is just good common sense, yet as we have all heard before, “Common sense is not very common.” I certainly want it to be part of my daily life and I am sure you do, too. If we do, we will all be winners and profit greatly from it.
Tip: Whoever has the most information and the most patience, always wins!
Have a great week! God bless you!
Dr. Robert A. Rohm