Halim Çun
The book titled “Money Awareness: How Do You Earn, Protect and Grow Your Money?” written by Cristina Benito and published by Scala Yayınları, is an excellent introductory book on financial literacy.
It also touches on slightly different topics for today’s rapidly digitalising, option-rich, and easy-to-trade, return-focused world, where financial professionals like us are overly focused on market direction and investment returns every day.
Drawing inspiration from the ancient meditation tradition of 2,500-year-old Buddhist philosophy, it explores the concept of “money mindfulness” within the scope of financial literacy. While it includes classic advice on how to earn, protect, and multiply your money, it particularly recommends entering financial literacy through a gateway of awareness that questions your relationship with money.
Without further ado, I shall explore the topic by explaining certain concepts with quotations from the book:
“Sweden is known as the land of semi-skimmed milk. Not too little, not too much… Always just right. In Sweden, ‘Lagom’ is present in consumption, food, and sport. It is said that the origin of this term dates back to the ancient Vikings. According to legend, at gatherings, a horn-shaped jug would be passed around for everyone to drink from, and they would shout ‘Laget-Om!’ The only way for there to be enough drink for everyone was for each person to take a sip and pass it on to the next. Lagom also means law. What is the law of Lagom? Not too much, not too little, just right.”
Although it may seem surprising at first glance, despite their high purchasing power, the Scandinavian countries in northern Germany stand out for their ability to easily enjoy the basic things in life. “This philosophy of life has recently gained prominence in Denmark with the popular concept of Hygge. Some have translated this concept as spiritual intimacy. Hygge is cosy, it is what makes a house a home. But above all, it is an attitude: taking pleasure in the small details of everyday life, saying no to excessive pace, and pausing to savour the moment.”
“In Germany, there is a similar word called Gemütlichkeit, which cannot be translated into other languages. This term is used to describe an atmosphere of peace and comfort. It is about feeling at ease, appreciating the value of what we have.”
Cristina Benito is actually emphasising something different here: “Contrary to popular belief, contentment is not related to poverty but to wealth. Everything is related to living with gratitude, not in deprivation.”
Let there be no misunderstanding, this has nothing to do with a mystical life or accepting mediocrity: it is about establishing an “optimal” balance between oneself and one’s life goals, and remaining “in the game” for a long time in good health and well-being. Look, I emphasised similar characteristics in a previous post about Warren Buffett…