Acquiring Wealth, Power, and Success Morally and Ethically

…a.k.a AWPSME. This is probably one of the best classes I have taken at Pepperdine. School is meant to teach you critical thinking, but sometimes you just learn how to navigate the huge workload so you can still have a life. What I love about AWPSME is exactly that: critical thinking. No subject is taboo; all views are welcome and challenged.

It is true that we do a lot of talking in that class, but it is all with a purpose. The goal is to form our own opinions and moral/ethical guidelines. One of the topics we discussed and that stuck with me was consumerism and how that affects our lives. We all use technology to become more efficient so we can have more time for a balanced life, but what we end up doing more often than not is taking on even more work to the point that we do not have a life. It is partially our own fault, but it seems like it is also expected of us to give more and more every day to the point that we become exhausted and cannot get to enjoy the very result that we were striving for. And instead of trying to understand the cause, we try to become even more efficient. What do you think happens next? You guessed it. We take on even more or we are expected to give more and history repeats itself.

What follows usually is the feeling of exhaustion and entitlement. We are working so hard that we are entitled to spend money: go shopping, buy the car that we always wanted (even though it is more expensive than we can afford), the home or whatever else we want. Not need, want! Our overhead expenses rise and we have to work even more to cover these expenses. Then we treat ourselves to a vacation or another shopping spree because… you guessed it, we work very hard and we deserve it. So you are starting to see a pattern here. It sounds horrible and most people, if not everyone, would say “well, but that’s not me! I don’t think like that.” And it might very well be that way, or we might not even realize that we do. I am guilty of having done that. I did it and didn’t even realize it.

Is it worth it, is it not, you are the only person that can answer that. But if you think you might be tempted to do that, take a look at your spending habits, identify your needs and sift through the wants. It is very empowering to be in control and also save money in the process. Some of the books we are discussing in class (see list below) talk about how to live below our means so we can improve our net worth. The additional money is the source of choice and freedom to invest, do what you’ve always wanted to do, etc. Food for thought…

Small is Beautiful – Economics As If People Mattered by Fritz Schumacher
Your Money or Your Life by Vicki Robin & Joe Dominguez
The Millionaire Next Door by Thomas J. Stanley and William Danko