President’s Point

The other day a friend gave me a ride in his brand-new car. Soft leather seats and a roomy interior made the ride more comfortable.

As we drove around, he showed me some of the new standard features. One option steered the car back into his driving lane if he wandered. Another feature stopped the car automatically if a possible crash was detected. When it came to parallel parking, the car guided itself into an open space. It even had a driving mode that would help steer the car through traffic. I was impressed.

There’s been much talk about how car manufacturers are busy working on self-driving cars. This sounds like a world imagined in “The Jetsons.” For you youngsters, Google “The Jetsons” for a glimpse of how some imagined the future of automation.

Today, we don’t have flying cars and robots to handle daily chores. However, we are moving in that direction. Self-driving cars seems like a natural evolution along this path. I would add that there’s one task where self-driving may not always be the best option: managing your money. 

You have lots of digital options for spending, saving and tracking your expenses. While these tools can be very helpful, autonomous money management could lead one astray.

This is the reason we emphasize financial education so much here at LGFCU. It’s important you know how to maximize the dividends your money earns. Further, you should be aware of the dangers of losing control of your money. When your circumstances change, you should know how to steer back onto the right path. Financial collisions can happen around every curve. Smart consumers must know when to brake to avoid getting into trouble.

I’m not sure if I will get a self-driving car one day. I like the feeling of having a steering wheel in my hands and winding down a country road. I may change my mind when cars start flying.