What would you tell the future you if you had a chance to say anything financially related? Would it be about the steps you are taking now to build a better financial future for yourself? Would you be embarrassed to admit that you aren’t doing enough? I was given the chance to make “a video to my future self” as part of attending the Capital One Banking Reimagined Tour recently, and going through the experience made me excited about saving money again.
This surprised me a little. You see, adding money into savings always gave me a kick because it meant I was getting a step closer to being financially free. I never saw spending less as a sacrifice, because it was clear in my mind that saving simply meant choosing to buy more freedom in the future. I didn’t realize this, but all those financially savvy moves slowly turned into a routine. The desire to spend slowly grew, while the fire to save slowly died. Without realizing it, saving money slowly became a chore.
In a few short years, I forgot how investing for my future gave me the courage to quit the “only in it for the money” full time job to one that can really improve people’s financial lives. I forgot how much freedom I’ve gained by having money in the bank. Simply put, I forgot why I saved.
Luckily, the Capital One’s Banking Reimagined Tour sparked the fire inside me again. You see, they are hitting the road around the country with a tour that empowers you explore new ideas and be reminded of why you save in the first place.
The tour, through a series of questions, reminded me that I save because I value financial freedom. I remember the stress I used to feel about money, the days when every bill that came in weighed a ton, and all the arguments I had with my wife on how we should spend our financial resources.
It made me grateful that I saved and continue to do so, because I’m so much more relaxed now because of the financial resources we already accumulated. We no longer feel stressed about all the little expenses that pop up in everyday life for a family of four. If financial freedom is a destination, we’ve already arrived.
A Capital One Café Near You
Instead of building traditional bank branches, Capital One is opening what they call Capital One Cafés around the country. There are a few ATMs in every location for your banking needs of course, but these machines are situated within huge work spaces that anyone can drop by to use and collaborate. Open 7 days a week, the spaces offer free meeting rooms for the local community to reserve and use, as well as work desks and free Wi-Fi. They even have a full-service coffee shop through a partnership with Peet’s Coffee. Real coffee that’s actually hot – why didn’t any other financial institution think of that?
Free Money Coaches
Another perk the bank offers is a free session with their money coaches. These are experts that can meet with you at the Capital One Cafés to help you discover your values and prioritize your spending. I met with Megan Lathrop, a money coach based out of San Francisco. By sharing my story and what’s important to me, Megan and I identified that finding inner peace, having self-respect and having a sense of belonging are three areas that are high priorities for me. I came into the meeting not knowing what to expect, but I came out of the meeting with more clarity on my priorities plus three action steps to take in order to improve on those values that are most important to me.
And it’s free!
Oh and that video I made to my future self? Check it out below:
Disclaimer: Thank you, Capital One for sponsoring me to write this piece. I didn’t realize this when I agreed to participate but going through the experience not only lightened my mood but it’ll also make an incalculable benefit to my finances.
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Sweet, miniscule interest rates– but gourmet coffee and free wifi! I guess it’s not the bank’s fault, actually I’ve hit the FDIC limit at this very institution because most out there are far worse.
I hit my number over a decade ago so it’s mission accomplished. For me it wasn’t about saving, it was procrastinating on spending and kicking the surplus into the equity markets, both to which I was naturally inclined. So my message would be “still alive, eh? Well you’re welcome!”
All the banks are swimming in deposits, that’s for sure. We are feeling the effects already since there hasn’t been any meaningful interest rate increases for savings even though the Fed has already raised the benchmark rate by 0.50% from the bottom.
I wonder how long this situation will last.