While tuning-in to a podcast this morning, something interesting caught my ear. The guy on there was talking about how folks with steady job incomes—no matter if they’re raking it in or barely scraping by—are more risk-averse compared to those without that reliable paycheck rolling in every couple of weeks or month. There’s a lot to unpack here:
- Is it because the latter have nothing to lose, so they dive in headfirst?
- Or maybe the former really values every hard-earned penny they bring in?
- Could it be that the latter feel more liberated, thinking money comes and goes, so why not take chances and seize opportunities?
- And do the first ones avoid risk altogether, clinging to their stable gigs, thus creating a self-fulfilling prophecy? Or is it like a Risk Averse Ouroboros? (Look up Ouroboros—it’s pretty cool!)
Questions like these come with all sorts of conditions, tweaks, and variations depending on the countless variables in our lives. But it got me thinking about my own appetite for risk and the risks I’ve taken over the years. And I came to the conclusion that we should see a slice of our finances as an “Access to F* it up” card—a way to dive into things, get our hands dirty, and still have the means to bounce back or try something new (And no, this is not a break the rules or do bad spirited actions to then use money to save your ass, we got enough people in the world pulling that garbage out, we don’t need more).
There’s nothing more crucial than taking calculated risks, weighing the pros and cons, and having backup plans (plus an exit strategy) in place. We don’t want to throw caution to the wind unless we enjoy watching our money go down the drain. So set aside a bit of your cash (as much or as little as your budget allows) to explore new avenues, to dig into what makes you tick, what you’re good at, and what you suck at.
I’m talking about everything from sampling new cuisines to diving into business ventures. Because money isn’t just a tool to acquire goods and services—it’s the key that unlocks doors and keeps your self-discovering journey going, while also giving you an out when you need to regroup and plan your next move.
In this Dance Club we call Life – within capitalistic societies – We have built a system where an entrance ticket is required to go in, but if we decide we want to go somewhere else, an exit fee has to be covered as well.
And as a friendly PSA: always take measured risks! Don’t go all in without thinking things through, and definitely don’t bet the farm like you’re playing an all-in poker hand thinking you got the opportunity of the century.
I’ve got a personal story in mind, but that’ll have to wait for another post.