Yesterday morning, there was a ton of traffic on my normally short morning commute. The accident causing the delay had just happened, so emergency vehicles were making their way onto the scene. Most drivers did what they’re supposed to do and moved over to the right for the passing ambulances and police cars.
One motorcyclist did something incredibly dumb though. As he weaved through traffic, the motorcyclist then cut in front of the ambulance and sped ahead. After that, he continued to weave in and out of cars. Not smart.
What’s This Got To Do With Money and Investing?
As soon as I saw this guy cut in front of the ambulance, I knew this somehow related to the way some people behave with their money.
Personal finance is mostly behavioral, and far too many times, I see people doing dumb and reckless things with their money. The financial equivalent of weaving in and out of traffic and cutting in front of ambulances.
Some reckless things I’ve seen people do in just this year:
- Put all their money into meme coins
- Take out a high interest credit card loan for a high-risk business venture
- Refinance a 2.75% mortgage to a 6.5% mortgage so they could pull a little equity out for a minor home improvement project
Avoid the Reckless
These things are all the financial equivalent to weaving in and out of traffic and cutting in front of ambulances.
Maybe these people don’t know how reckless their behavior really is, don’t care, or think they are the exception. Whatever the reason, it’s still reckless, irresponsible, and dangerous.
So avoid the big reckless things like this, and you’re much more likely to be successful long-term with your money and investments.
Or, in other words, don’t cut in front of ambulances with your money.
