Maybe We Need a Stupid Fund

I know it sounds odd, especially after my urgings to set aside an emergency fund.  Granted, this recommendation is not for everyone. I’m a firm believer that there is no “one size fits all” approach to increasing your financial wellness.  Everyone is going to need something different to help them gain financial peace.

As for me and my house, I need a Stupid Fund. This means setting aside some money each month to build up a special earmarked portion of my savings account that makes me feel a little better when I do something stupid.

Would you like me to define stupid?

I will, but first let me just mention that I am a very effective financial coach. I can increase your financial wellness all the live-long day.  How am I so good? I’m a flawed human being. I don’t preach from a pedestal of superiority.  I join you in the trenches where I hear a lot of stories. Usually the circumstances that throw us into trenches are not funny.  But while we’re in there, we may as well share a giggle or two. So here are some instances – some are my own, some are from clients – that would qualify for withdrawals from a Stupid Fund.

1. Speeding tickets/traffic violations.  My formative driving years were in Los Angeles, so my default driving strategy is a wee bit aggressive. I must say though, I now drive a minivan that I nicknamed “molasses” in honor of its smooth, slow ride. Now that I can’t go anywhere quickly, my driving record has improved.
2. Dropping {insert expensive device here} into {insert body of water or commode here}.  Ew. I know, they fall out of your back pocket at the darnedest times! Not enough rice in the world to save it.
3. Locksmiths.  For homes and cars. (Looking for a bright side? At least your kid wasn’t locked in there. Oh he was? Yeah, mine too…)
4. Forgetting to pay a bill. Yes it happens, especially now that many of us are using online banking services, the bills that come in the mailbox can be forgotten.  Let it go.  Forgive yourself and spend some time coming up with a more effective system.
5. Procrastinating and having to shell out the extra cash to send gifts overnight. At least you’re supporting the overnight shipping economy?
6. Leaving {insert expensive device here} behind. Hey, we have a LOT of things to keep track of these days: keys, phones, wallets, water bottles, hand sanitizer, children … I’m telling you, something’s gotta give.  So pay for it with your stupid fund and be glad you didn’t leave a child behind like those poor people under #3.
7. Passing your genes on to your progeny who have accidentally checked off more than one item on this list.

It was this last item that finally motivated the establishment of my own stupid fund.  I used to think that if I just tried a little harder I could contain the stupid.  But then I reproduced, and now there is more of it around here than I can contain.  Now in the case of the children, these acts are more about my precious kids learning to be responsible. So it’s part of growing up, not stupidity.  Either way these lapses in judgment still cost money.

So I’ve decided to make peace with it all. With the fund, I now know all future acts of stupidity are covered.  And if the fund goes unused for a whole year, then I can dump all that extra money into some other savings fund.  How fun would it be to take a vacation that was paid for because I avoided doing something stupid? I’ll let you know if that ever happens…

Would it help to have some support as you change your financial perspective to allow for moments of weakness while capitalizing on your strengths? Apply for a complimentary coaching consultation so we can get you started toward greater financial peace.