Posts Tagged ‘What we can learn from Moneyball’

By Patrick Bet-David

Many people in America right now are wondering how they will get out of their current financial situation. Americans are asking questions like: “Will this ever change?” and “What can I do about it?” The movie Moneyball, based on a true story, is a perfect illustration that everything can be okay if we learn to live life living within our current financial means. 

 In the movie Moneyball, Oakland A’s General Manager Billy Beane is approached by the owner of the team in 2001 to build a strong team that makes it to the playoffs with only a budget of $41 million dollars. Compare that to the Yankees budget that year of $125 Million. How do you compete with that huge gulf in resources?

That’s exactly why our economy is where it’s at today with many Americans who have a budget of the Oakland A’s while trying to live the life of the New York Yankees. Can it be done? Absolutely, but it will require Americans to sit down and try to build a life with what they currently have. Just like in the movie, Oakland was forced to find players undervalued by the market, and by finding value in “discount” players, the team proved itself capable of competing with the super-sized budgets of other teams.

It’s not going to be easy or quick, like some of these late night get-rich-quick commercials suggest; it will require work  determination and sacrifice to get it right. It may require many families to create a secondary income, cut back non-essential spending or become avid coupon clippers and discount shoppers.

It’s amazing what creativity and fortitude we are capable of when forced to do more with less. Many Americans had become accustomed to living beyond their means, using credit cards and see-want-buy approach to budgeting. Now, consumer credit card debt is down 18% from this time last year and has been on a steady decline since the recession started. ;l.While Americans are cutting back on spending and reducing personal debt, the same cannot be said of the Federal Government. U.S. debt has doubled in the same time period.

Our Nation is trying to spend money that we don’t have hoping things will work out, but at the end of the day we’re setting up the future of America for failure.  We’re leaving it up to the Generation X & Y to pay the price for the current financial decisions of Washington DC. We may want to consider encouraging Billy Beane to apply for the position of the Comptroller General of the United States of America or sit as an advisor on the budget committee.   The point is, we need more leaders in Generation X & Y to become experts in the area of money because they’re the ones that will be the next leaders in Washington making the big decisions for the future of America.  The future looks bright for those who learn to play best with the current hand they’ve been dealt.