I’m finding it hard to resist reading the stories about our white collar scoundrels – like Bernie Madoff and Earl Jones —  who managed to siphon dazzling amounts of money from investors. And then there’s the case of Paul Champagne, who stole $100 million from the Department of National Defence. From what I can tell, it didn’t seem all that hard for any of them to do it – either morally or technically.

Let’s start with the moral side.  So what were they thinking?  I mean, really?  What was it exactly that made each one of them risk their freedom, their family, their integrity and their livelihood?  Ok sure, there’s the serious cash part, but did they truly think the money would make them happier, more fulfilled, more successful?  Study after study tells us that more money doesn’t make us happier, but perhaps they missed those issues of Psychology Today.

More likely the reason they did it, was simply that they could.  They tried it, they liked it and they didn’t get caught.  Obviously they were in the wrong ethically and legally, but could their wrongdoings have been averted if the other side was paying closer attention?  I know this is a tricky question, but I also know that it’s lot easier to look the other way when everyone is making money.  And for a while, everybody was.

Certainly Madoff, Jones and Champagne seem to be guilty of committing major money crimes, but it made me wonder what we may be compromising everyday in the name of material gain.

When asked, most people say that money isn’t the most important thing in their life, but when you consider how we allocate our time and energy, you really have to wonder.

• Are we spending money on stuff that’s inconsistent with our values?
• Are we working at jobs that we don’t like (or at least working harder than we want)?
• Are we spending less time with our families than is healthy?
• Are we racking up debt we can’t afford to pay back?

Not exactly activities that will get us thrown in jail, but small “crimes” against ourselves and society that can add up and weigh heavily on our hearts.

I think Lynn Twist, author of The Soul of Money, got it right when she said that “money is the most universally motivating, mischievous, miraculous, maligned, and misunderstood part of contemporary life”.  And, ain’t that the truth! – Karin Mizgala

Karin Mizgala is a Vancouver-based fee-for-service financial planner with an MBA and a degree in psychology. She’s the President of LifeDesign Financial and co-founder of the Women’s Financial Learning Centre.