Shared Reading: 10 Money Lessons from Music Lyrics

Have you ever listened closely to the lyrics of songs you hear on the radio? Someone has, and it seems you can learn a lot about finances from your music. Someone at Get Rich Slowly collected some lyrics along with the financial advice that you can gain from listening closely.

“If I Had a Million Dollars” by The Barenaked Ladies

If I had a million dollars
We wouldn’t have to walk to the store
If I had a million dollars
We’d take a limousine cause it costs more

The Barenaked Ladies know a thing or two about lifestyle inflation. If you start to make more money, it’s common to start looking for ways to upgrade your life — bigger house, new TV, taking a limousine to the corner store. Avoid lifestyle inflation by asking yourself if a purchase is a need or something you’ll really value, or something you want only because “it costs more.”

I've always been a fan of this song but I never really read into the lyrics. Just because you have money, doesn't mean you should spend it. Enjoy life but don't go buying things just to say you bought them. Make sure you plan ahead for those unforeseen situation.

“Free Money” by Patti Smith

Every night before I go to sleep
Find a ticket, win a lottery,
Scoop the pearls up from the sea
Cash them in and buy you all the things you need.

Winning the lottery is a bad financial plan — you can expect an 80% loss on your “investment.” Put it in a savings or retirement account that you can use later to “buy all the things you need.”

I know the odds are against me, but I can't help buy buy lottery tickets. I think I'm buying more into the hope of winning than the actual jackpot.

Read the whole list at Get Rich Slowly.