There is a guy in my office today who is very well groomed, wearing khakis, a dress shirt, a sport coat, and nice lace-up shoes. The odd thing is that he isn’t wearing any socks. And I don’t think he has no-show (athletic) socks on. He’s just not wearing any. Now I’ve seen guys pull this off poolside with some loafers, but in the office? and with lace-ups? in the winter?
Not only was this a weird sight, it actually panged me to see it as I imagined myself without socks. For me, socks provide warmth, comfort, and dryness (aka no stinky stink) while wearing closed-toe shoes. Isn’t this obvious to everyone? Why would anyone want to go all day without socks? I guess there is some new trend or fashion that I am not aware of. Who knows, this could just be this guys own personal style. Either way, some people wear weird things strictly for the sake of style.
This got me thinking about things in personal finance are that “no-brainers” yet people still struggle with. For instance,
- Spending more than they make
- Carrying an interest-incurring credit card balance
- Not contributing to a 401K to at least get the match
- Paying a credit card annual fee or monthly bank fee
- Taking out a pay-day type loan
- Investing in single stocks ONLY
- Taking a loan from their 401K
- Buying more house, car, (or whatever) than they can afford
- Taking out an adjustable-rate mortgage
- Adjusting with-holdings to get a bigger tax refund
- Keeping short-term savings in a regular savings account
Why do people do these things? I guess the problem with some is that, much like the fashion industry, the lending industry spends a lot of money and energy telling us how we need to live our lives and why these things are necessary. Just like not wearing socks.
So, please, wear your socks. It’s starting to stink in here.
Know any other stupid personal finance moves? Leave your comments below.
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