On December 19, 1843, Charles Dickens' classic tale of the past, present, and future, A Christmas Carol, was first published.
Dickens wrote A Christmas Carol in the autumn of 1843 during a time of financial stress and social concern. Deeply moved by the struggles of the poor and frustrated by the indifference of the wealthy, Dickens initially conceived the book as a social critique. He completed the novella in just six weeks, working feverishly to meet a December deadline. Determined to make the book affordable and accessible, Dickens funded its publication himself, insisting on a high-quality product with fine illustrations by John Leech. Released on December 19, 1843, the book was an immediate success, selling out its first printing of 6,000 copies within days. Despite its popularity, Dickens earned little from the early sales due to high production costs and copyright piracy in the United States. Nevertheless, A Christmas Carol became a cultural phenomenon, celebrated for its vivid storytelling and enduring message of compassion and redemption. Its success helped restore Dickens' finances and secured his reputation as one of England's greatest writers.
When Charles Dickens penned A Christmas Carol in 1843, he probably didn’t expect it to double as a guide to financial wisdom. Yet, hidden among the ghosts and holiday cheer are profound lessons that can guide modern investors.
1. Beware of Hoarding Wealth.
Scrooge, before his conversion, illustrates frugality gone wrong. He hoards his money, refusing to spend or share, and leads a joyless life. While saving is crucial, excessive hoarding can have emotionally and financially negative consequences. Money left idle loses value over time due to inflation. And money is usually meant to be spent once you reach retirement. Don’t let fear or greed drive your investing, savings, or income plans. You’ll only be forging the chains of a less-than-happy earthly existence.
2. Review and Reflect.
When the Ghost of Christmas Past takes Scrooge on a journey through his earlier years, he’s forced to confront the choices that shaped his current circumstances. Similarly, investors benefit from reflecting on financial history. Reviewing past decisions—both successes and mistakes—can provide invaluable insights for future strategies. Regularly review your portfolio and financial goals. Learn from past missteps to make better choices for Christmases (and other Holidays) yet to come.
3. Have a Clear Vision.
The Ghost of Christmas Yet to Come presents Scrooge with a grim vision of his future if he continues on his current path. For investors, this is a reminder to consider the long-term consequences of their decisions. Short-term thinking, such as chasing quick profits or neglecting retirement planning, can lead to financial instability. Invest with a goal in mind. These should be tangible, written goals, not vague fly-by-night ideas.
4. Give Strategically.
By the end of the story, Scrooge embraces generosity, supporting those around him and fostering goodwill. As investors, there are a variety of strategies to benefit from if you are charitably inclined. Use them and do good, better! Beyond monetary returns, these investments can yield a sense of purpose and community impact. But you might as well enjoy the benefits of your generosity too.
5. Embrace Change.
Scrooge’s transformation proves that it’s never too late to change. Many investors hesitate to adjust their tactics, even when faced with clear evidence that their approach isn’t working. Be open to revising and rewriting, which is required in any great written work.
As the holiday season approaches, let Scrooge’s journey inspire you to reflect on your financial habits. Are your investments aligned with your values and goals? Are you preparing for the future while enjoying the present? Applying these lessons allows you to transform your financial life—without losing sleep in the middle of the night.
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🎯Patrick Huey is a small business owner and the author of three books on history and finance as well as the highly-rated recently-released fictional work Hell: A Novel. As owner of Victory Independent Planning, LLC, Patrick works with families and non-profit organizations. He is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy® and an Accredited Tax Preparer. He earned a Bachelor’s degree in History from the University of Pittsburgh, and a Master of Business Administration from Arizona State University. Patrick previously served as a Naval Flight Officer from 1996-2005, earning the Strike Fighter Air Medal during combat operations and two Navy Achievement Medals.
👉🏻 Reach him at 877-234-8957 or schedule a time to talk using this link: https://freebusy.io/victoryindependentplanning-VIP-Booking/phone-consultation
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