Episode #18 - The secret behind Winnings

Why do I write these notes - a Labor Day Weekend musing.

Intro:

As per usual, an off week when I don’t write a note usually begets and off week when it comes to email opens. So thanks for holding to that rule. With that in mind, even though this weekend is a holiday in the U.S.A., I figured to keep pumping this out to build on our growing community who keep coming back for more.

This week I want to take a step back and articulate the long term vision for Winnings and get your sense of interest in the greater project. If you’re interested, do hit me with an email, comment, share, heart-button click, or other ways you show love to textual ideas in the 21st century. The future of these notes hangs on those interactions.

The problem:

Discussion and sharing your financial health remains taboo and makes it unlikely for you to set yourself up for long-term financial success.

Most personal finance apps are just that: SUPER personal. Personal finance thrives off of secrecy. Barring the friend or two who experience terrible poverty combined with the willingness to share about those difficulties in a public setting - think Facebook posts - few people share their acts of financial health, or lack thereof, on platforms that we frequent on a daily basis.

Some wonks on Twitter go all in about #StockMarket and others toot their horns about big sells+buys (or fancier financial footwork), nearly no one shows off how they saved money, invested in long term financial instruments, or put away for their child’s college fund.

The revolution:

Physical fitness apps have paved the way for people to share how their physical health looks. A rugged photo after a long run. A weekly mileage challenge. A tag-team of two friends biking for a cause. All of these events happen daily on apps like Strava and MapMyRun.

What would it look like if you did this but with your financial plays?

Sure, the number of miles doesn’t need to translate into number of dollars deposited into an IRA. But, “I deposited 15% of this month’s paycheck into a 401(k)” or “I passed on the Starbucks latte and put $6.50 into Acorns” or “Just purchased a life insurance policy,” should be innocuous enough to overturn the taboos around sharing money habits.

Having a community follow you, giving you “kudos” to borrow from the Strava land that I inhabit, and then checking in when you discover a new route to financial success - I think this has the making of a revolution in financial wellness, something that millions of people can get on board for today.

Takeaway:

I want to build this community and I want to start with the folks here. I will soon launch an online community to get this rolling. It will start with a small fee to cover the cost of managing whatever community network we use to keep the communication mechanism. There will be channels and moderators. There will be tips. There will be engagement by us, all of us.

I bet it will even be fun.

Interact:

If you’re excited by this idea, just respond to this email with a thumbs up emoji or another form of acknowledgement. I’m hoping to put the channels together before the High Holiday season on the Jewish calendar - this two week deadline will get me to set this up with some more alacrity.

Gratitude:

Thank you for reading this far. Thank you for responding to this note. I will continue to share through this platform, but I do hope the community we build online will endure past a weekly engagement and will become a daily dose of inspiration and owning your financial health for the future.