“Nice weather today!” “Think it will rain?” Go anywhere in Cincinnati and you’ll hear comments about the weather. Much like our bills and bank accounts, weather is always top of mind. So we were wondering… could Cincinnati weather have anything to do with how we think about our money? Well, let’s take a closer look…
Did you know that our weather makes Cincinnati a great place to live? It’s a beautiful city, in part because we get about 44 inches of rain and 15 inches of snow a year. Plenty of moisture for plants, green hills, and fresh water, and just enough of the fluffy stuff for an occasional sledding day. We have slightly fewer sunny days (176 compared to the U.S. average of 205), but our clouds earn Cincinnati a BestPlaces Comfort Index of 7.2 out of 10, making the Queen City one of the most pleasant places to live in Ohio. (Source: bestplaces.net)
But what does weather have to do with money matters? Well, it teaches us a few things…for example:
Always be prepared. With weather, we prepare for the day with an umbrella, light sweater, or snow boots. With money, we prepare for trends in interest rates, rising or falling prices, or simply having enough change in our pocket for whatever our day has in store.
Put safety first. Under threat of hail, we park under cover instead of in the driveway, and when forced to drive through flood water, go slow and go only one vehicle at a time. With money, we save for the proverbial rainy days to build a financial foundation to get us through emergencies.
Appreciate life. As the great social thinker John Ruskin once said, “sunshine is delicious, rain is refreshing, wind braces us up, snow is exhilarating; there is really no such thing as bad weather, only different kinds of good weather. Whether about weather or money, we are optimistic.
Take advantage of the difference between the weather and climate. Weather is what is happening today: sun, rain, snow, wind, calm, cloudy. Climate is the long-term pattern of weather recorded over a 30-year period of time. Our relationship with money is no different: how much we have in the bank can change daily, and financial security is how well we managed our money over time.
We may have many different financial weather days as savings grow and wane, and investments follow the traditional peaks and valleys of gains and losses. Think about your financial life like we think about weather: be prepared for the unexpected and always put your own safety and the safety of those you love first. Now, let’s go out there and enjoy the day!