Every Financial Decision You Make is a Deal or No Deal Question

Deal, No Deal

I’ve personally never seen this game show, but recently I saw a parody of it that was done at my church when they were talking about finances. It was actually very interesting how they laid it out and made the correlation and it made a lot of sense. They had a “contestant” come up (he was actually just acting) and he got to pick a case that he thought contained the ultimate prize — which in this case wasn’t a million dollars, but rather “Financial Security.” He picked his case number and talked about how he really wanted Financial Security because he had a family, 2 car payments, a first and second mortgage, a lot of credit card debt and was basi

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8 Responses to Every Financial Decision You Make is a Deal or No Deal Question

  1. Kevin says:

    This is a good way to look at things. We just bought a house (yesterday) and will be needing to buy a lot of stuff soon. I will try to keep this in mind when buying.

  2. Letty says:

    I am just starting Dave Ramsey’s FPU, and stories like these keep me motivated to stick with it. I know it’s going to be a little hard getting used to actually managing my money verus it managing me, but I’m looking forward to the final goal of financial security.

  3. Melissa says:

    This is, by far, the most sensible and excellent post I have ever seen. If more people thought this way when making financial decisions, the country would be in a far better place.

    Thank you.

  4. AJC @ 7million7years says:

    I wrote a post on this exact same topic … thanks!

    I used the show to illustrate how people make poor financial decisions.

    I also used it to show that the strictly mathematiclly correct decision isn’t always the RIGHT decision … for YOU. For example, I wrote another post on the Rent v Buy decision – maths says Rent … I say Buy (result: I’m rich, my accountant isn’t!).

  5. Ceejay74 says:

    Wow, who writes your church’s plays? That is a brilliant yet simple metaphor that really lays out an entire financial philosophy. Thank you for sharing!

  6. trex says:

    Being able to think beyond what is in front of your eyes is essential, but being able to think beyond yourself is even more essential. If you can trade in buying three cups of Starbuck’s coffee to save the life of someone, would you? Or would you still buy your coffee and let the child die? Since $10 can save a child’s life by providing clean water, that is the decision you should be making every time you make a purchase. Is that purchase worth more than a life?

  7. Pingback: Weekend Edition: Credit, GMAT, and Deal or No Deal | Fiscal Musings

  8. Alexandria says:

    I’ve seen the show and can’t watch it. I can’t understand anyone who could give up a SURE $100k for the slim hope of $1 mil!!! Egads. Likewise, we would never get on the show. We’d be too boring.

    That is brilliant. Good post.

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