Lost Money Fund

It’s happened to all of us. The cashier scanned an item twice, or we realize we were charged for something at a hotel or restaurant that we never asked for or never received. If we catch the overcharge in time, we can ask to have it reversed. But sometimes, we discover we’ve been shortchanged after it’s too late to do anything about it. Sometimes, we might even realize that we were actually scammed out of our hard-earned dollars. That feeling of being cheated, can leave us frustrated at best, and downright angry at worst.

I used to let myself get irritated and even enraged by these situations. But, now, rather than let that kind of loss impact my mood, I deal with it differently. We all make conscious choices about how we react to things. In this case I’ve decided it isn’t worth letting myself feel disappointed about losing a certain amount of money, either by mistake or deceit. And I begin by reminding myself that the loss of that money isn’t the end of the world.

To make this easier for me, at the beginning of the year I mentally allocate a fund for mistakes and related financial losses. It’s just like a budget for a vacation, (though the use is not quite as much fun). The amount you allocate, of course, will be in relation to the amount you can lose without incurring any actual hardship. (Someone who is living hand to mouth, probably can’t afford to allocate anything to a “lost money” fund, while someone who regularly treats themselves to expensive spa retreats can allocate more).

In my case, I allocate several thousand dollars. While I’m not actually spending the money, I am budgeting for my future peace of mind. This allows me to focus on more important things in my life, like my family and friends and the people I love.

The overall point of this exercise, of course, is to not let certain kinds of material loss overshadow our days. Save your feelings for things that really matter.

The past is always instructive for the future and I’ve found that, indeed, experience is the best teacher. So, if, in the past, you’ve found yourself “crying over spilt milk” focusing on your losses, why not take advantage of my experience and break out of that unhelpful pattern. Why not put things in a different perspective?  Life is always better when we spend our time appreciating the positive, the joy and beauty that comes our way.

Alan