Some of us had a front
row seat to the financ-
ial chaos the subprime
mortgage meltdown
delivered, a perform-
ance undeserving of a
standing ovation. Pay-
ing for our mistakes is
an unsettling venture
that is hard to face, but
take heart. Time will
ease your pain.
This photo of a home that was in our neighborhood
represents adversity to me and encompasses all that one would never want to face...being locked out of their own home by some authority. This is a motivating photo to me (likely material to inspire a song) to remind me how I can’t let life just happen, but rather to do my best to prepare for it and the unexpected.
It occurred to me recently that I had actually forgotten about a Nissan Sentra wagon that my wife and I surrendered to the bank in 1988, putting it through the auction procedure, and ending up with the balance. It has since been paid for a long time. However, we didn’t quite learn enough from that mistake, so acquiring other debt over the years made us hear that same familiar tune. What is it about owning debt that
makes us feel so grown up?
Fortunately, we’ve heard the different drumbeat of Dave Ramsey, who espouses the idea of gaining a debt free lifestyle. It takes courage to say "no" to the world and yourself when it comes to the ease of credit use. For us, it’s not been easy , but has been very rewarding. We’ve been without consumer debt for several years now. The sense of exhilaration might be what a band must feel after a great show everyone loved.
Fortunately, we’ve heard the different drumbeat of Dave Ramsey, who espouses the idea of gaining a debt free lifestyle. It takes courage to say "no" to the world and yourself when it comes to the ease of credit use. For us, it’s not been easy , but has been very rewarding. We’ve been without consumer debt for several years now. The sense of exhilaration might be what a band must feel after a great show everyone loved.
Hopefully, if you’ve been unscathed by the credit bug, you’ll hear an imaginary “fire!” and storm for an exit the next time someone suggests you pay for something over time. You may just pay dearly like so many have.
I get angry at our overall society that credit cards and debt is normal and accepted. But the credit card companies are in no way our friends, they don't owe us any favours, so they're going to have ridiculous interest on the money you owe. Yet people continue to basically spend the money they don't have.
ReplyDeleteI'm not debt free because I'm a college student. I have student loans to pay for books and tuition, my checking account is dedicated to rent, and my credit card is for survival, for food. But I don't buy new gadgets or games just because I want them. It's hard for me to even buy clothes if they're not from Salvation Army (20+ dollars for any piece of clothing is outrageous). But I also never leave my friends hanging. If we go out to eat and someone can't afford their food, I can spot. Same with a movie or whatever. If they're actually my friend, I will help.
TL;DR - My advice is don't buy what you clearly cannot afford, but also don't be a complete dick when it comes to those you care about/who care about you.
I totally agree with Marlo. Although, I have had a different experience. In 1998 I was in a vehicle accident that was not my fault. It wasn not anyone's fault really, I slid on black ice. Well, from that day on it was like everything was took from me, any asset I had. So being able to come to college and advance my future is how I feel I am dealing with this harsh economy, or in other words, I am already starting from the bottom and advancing to the top!
ReplyDelete