The innovation conference I attended this week was absolutely fascinating. And not necessarily just for those in the banking industry, but for anyone interested in how we think and live in the current age. Two of the speakers covered “traditional” financial topics. One was Steve Forbes, who made some very illuminating connections between our current fiscal state and world history. The other was Frank Abagnale, Jr. (that Frank portrayed in the movie “Catch Me If You Can” by Leonardo DiCaprio) who gave such compelling information about identity theft it was chilling. If you are interested, his website has an amazing amount of free information on the subject of security (scroll down to “Previous Highlights” for a link to a PDF summary of his fraud seminar). His comments on the movie are linked under the main menu, and while I won’t quote them here, they are worth reading and tell a story of radical moral redemption.
The other two speakers focused on innovative thinking and illustrating that how we think about money is as important as how we spend or save it. One was Tom Kelly of IDEO, a company who helps a multitude of industries design products and processes that take into consideration the actual people who will be using them, such as redesigning bank branches for the way today’s customers want to bank or renovating labels for a European baby food line to help parents better understand the fit of a particular product to their baby’s needs. His constant theme was learning to notice the true need in a situation instead of being blinded by “the way we’ve always done it.” The other speaker in this category was Dan Ariely who, after a horrific accident left him in the hospital for 3 years with burns over 70% of his body, began to study psychology focusing on perception vs. reality, such as why nurses felt it better to change his bandages quickly but with more pain for the patient instead of more slowly and less painful to the patient but less distressing to the nurse. Eventually his studies led him into behavioral economics, and it was one of his illustrations that has most gripped me.
Essentially, if we were buying a pen for $15, and right before checkout someone told us a store down the street had the exact same pen for $7, anyone would think that $8 savings was worth walking down the street. However, if we were buying a designer coat for $1015, and we discovered it was $1007 at the store down the street, we would hardly consider it worth the time to walk there and begin our purchase anew. Why? $8 is $8 to our bank account, no matter what product it was saved on. But we attach a completely different feeling to a 53% discount than to one of less than 1%. Put another way, when the contractor for our remodeling project tells us he can get us the granite for just $4000 more overall, we think it over for maybe 15 minutes before deciding it’s worth it. And then we drive to the grocery store and stand in the aisle comparing unit prices on the good canned tomatoes vs. the cheap ones.
Why on earth do we do this? For lots of reasons, but mainly because we often let an emotional feel-good (or, depending on the expenditure, feel-bad) response override clear rational thinking. Or spending. Or eating. I can’t help but apply that to spirituality as well. How often have I acted out decisions I’ve rationalized as “not so bad” or “God will understand”. And then sniffed at the failing in someone else’s life because “sin is sin!” Or congratulated myself for avoiding Big Sin 317 while mismanaging my priorities so that I have to think hard to remember the last time I gave God my silent, undivided attention? I sure am thankful for the grace of God to forgive our failings, and the Holy Spirit’s nudging so that when we do gain awareness, we don’t have to keep making that same mistake, because the consequences of blindly relying on how we feel about our experiences is dangerous. Romans 1:28 says “Since they thought it foolish to acknowledge God, he abandoned them to their foolish thinking and let them do things that should never be done.” Colossians 2:8 further drives home the point; “Don’t let anyone capture you with empty philosophies and high-sounding nonsense that come from human thinking and from the spiritual powers[a] of this world, rather than from Christ.”
Finally, in 2 Peter 3:1, we are encouraged with the words, “This is my second letter to you, dear friends, and in both of them I have tried to stimulate your wholesome thinking and refresh your memory.” Ah, there is the remedy! In His word, we can find clarity for our irrationality and wholesome thinking as guidance for our every decision, monetary or otherwise. Makes me want to go spend some extra time in the scriptures. How about you?


