Tag: Idiom

Does money grow on trees?

When I started this blog a year ago, I used the ‘About me‘ page to tell the story of my childhood dreams of a money tree. How I planted my pocket money in the hopes that it would sprout into an everlasting supply of wealth.

Over the past year, since starting Enrichmentality, I’ve come back to this topic again and again.

Because the truth is, there is such a thing as a money tree.

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Are you keeping up with the Joneses or the Kardashians?

Keeping up with the Joneses‘ is an idiom in many parts of the English-speaking world, implying successfully matching the lifestyle of your neighbours.

Idioms, or fixed expressions such as ‘costing an arm and a leg’ or ‘waste not want not’, are normally considered ‘figures of speech’ in Linguistics, and their meaning is not the regular sum of their parts. For example, to ‘kick the bucket’ must be understood as a set phrase meaning to die, and cannot be determined by analysing the words ‘kick’ and ‘bucket’ alone. As a result, many idioms are culturally specific and difficult to translate.

Nevertheless, unsurprisingly, similar idioms suggesting changing on the basis of changes you observe in others exist in many languages: for example, the delightful Mexican idiom ‘Si de tu vecino ves la barba cortar, pon la tuya a remojar’- ‘If you see your neighbor has shaved his beard, you should start lathering yours’.

But in our globalised world, who exactly are your neighbours, and should you care?

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Is time money?

‘Time is money’ wrote Benjamin Franklin in 1748, in Advice to a Young Tradesman, Written by an Old One:

Remember that TIME is Money. He that can earn Ten Shillings a Day by his Labour, and goes abroad, or sits idle one half of that Day, tho’ he spends but Sixpence during his Diversion or Idleness, ought not to reckon That the only Expence; he has really spent or thrown away Five Shillings besides.

To update this slightly, Franklin is saying that there is an opportunity cost involved in deciding not to work: if you take a week’s unpaid holiday, you need to consider not only the costs of the holiday, but how much money you could have earned during that time.

Over time, the idiom has come to be associated perhaps more commonly with other people wasting your time rather than you not making the most of it: ‘I can’t afford to spend a lot of time standing here talking. Time is money, you know!

But what is the relationship between time and money?

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How diversified is your income?

Perhaps you’ve heard the idiom ‘don’t put all your eggs in one basket‘?

This phrase pretty much sums up the concept of ‘diversification’.

Diversification‘ is a risk management strategy, usually applied to investment portfolios. Investing all of your money in Coca-Cola shares would be an example of poor diversification, while having a portfolio that consists of some investment property, 15-20 different companies’ shares across a variety of different sectors, a bit in cash, and some bonds and international stocks would be considered much more diversified.

But have you though about the concept of ‘diversification’ in relation to your income?

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