Money lessons from art class

I didn’t learn how to draw, or paint, or mold clay. I slightly improved artistically, if at all. But I still feel I learned a lot from my eighth grade art class.

It all started with the first assignment. We were to create an art portfolio case from construction paper. The portfolio would house all of our assignments for the year. And to complete the project, we had to write the teacher’s classroom rules on the cover of the portfolio.

The portfolio was a clever idea. I have preserved it as a memento, and consequently I still have all of my eighth grade art projects. What’s more is that I have my transcription of the classroom rules.

Back then I felt the rules were sensible. And now more than 10 years later, I feel they still capture many important values. These simple lessons have helped me in life and in managing money.

Here is a sampling of some of the rules and lessons from art class:

credit: amagill via flickr

1. 90 percent of my success is effort. Honest, daily effort

I practice this lesson by keeping a daily record of my spending habits in my budget and expense tracking spreadsheet. By recording what I do, I stay conscious of my habits and keep my effort level high.

I can quickly see if my spending is sustainable, and if not, I compensate quickly. I have found that saving is not about making obscene money or spending too thriftily. It is largely about honest, daily effort and maintaining that effort.

2. Rushing your work is not high effort—slow down

I wish we had this rule when I worked in consulting! Seriously, people too often confuse frantic work with productive work.

Good work, like good art, is the result of creativity. I have written before how relaxing can help productivity, and I have also explained why working overtime is often bad. It is important to work in peace and enjoy life.

3. I can’t means I won’t

Perhaps the worst money habit is apathy. Feeling “I can’t save,” or “I can’t invest,” or “I can’t get out of debt” can be very discouraging.

Things often get so emotionally bad that one feels like it’s not even worth trying. But success can only come from trying and from effort. I am reminded of Wayne Gretzky’s quote, “You miss 100 percent of the shots you never take.”

4. I will be prepared with both supplies and ideas

What a novel idea. This applies both for art class and for money management. You need the supplies to enact plans and the ideas to get you moving.

And it is useful to remember the main “supply” for personal finance is not money.

5. I will meet recommended deadlines

This applies for most loans—credit cards, student debt, and mortgage payments. Many financial problems could be helped simply by preparation. Avoiding late fees can help you improve your finances forever.

6. I can always find more to do

In art class this lesson was about not sitting idle and asking the teacher what to do. I apply this lesson to money management by remembering perfection is a concept, not a goal.

I will do a lot and keep busy when possible. But I remind myself that it will never be sensible to optimize all of my spending, from clipping coupons for groceries to learning how to do an oil change. I will take care of the big picture and remember I could always do more, though I will be content to do just a bit less.

And to further this point, perhaps this is a fitting lesson on which to end