I really hate it when people complain about not having money. They get paid, they spend it, and then they bitch and moan that they can’t buy what they want. Face it, the only way that someone is going to have money left over is to budget accordingly. I’m not talking about creating a budget that takes into account the last penny. All I’m saying is have an idea of how much you make and what the cost of your basic needs are and spend what you have, not what you wish you had.
The biggest problem in our society today is that a lot of people live beyond their means. This was brought to our attention with the mortgage crisis in the USA. Shame on the banks and their agents who convinced their customers that they could get for loans that they didn’t qualify for…and shame on the customers for accepting such loans – if they knew that they couldn’t pay it back what the hell are they doing accepting it? Wishful thinking that’s all it was…probably hoping that the money would eventually come in.
Hopefully we have all learned a lesson; a lesson that should be passed on to our children – live within your means and don’t get suckered by monetary promises that seem to be to good to be true. As Judge Judy says: “If it’s too good to be true it probably is.”
My two cents…
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Awesome blog! I have to admit that I have learned a lot in the last 2 years. I used to spend without thinking, maxing out cards, etc.
That all changed with the real estate fiasco. I lost my 800 credit (not saying what it is now) and learned to live without the cards.
Today we have set up many little checking accounts, each labeled for different purposes. It is a bit like having many pre-paid credit cards!
So when the car needs tires I go to the “Automobile” account and draw out the $270 needed.
Or if my son has a cavity and needs dental work, it comes out of his account (I have one set up for each child).
So far, so good! The money goes where it is supposed to go and we don’t overspend!
Thanks Laura. It’s a shame that it often takes a crisis to make us change our ways. I think that education is the key to helping people understand the consequences of their actions. My best wishes for continued success with your approach.
Hi,
I’m a very controlled person and I firmly believe in living within my means. I have somehow managed to stay out of financial crisis. I use cards also in a very controlled manner that is, I have never paid interest on any of my payments.
Good post.
Please try and include your personal tricks to avoid financial crisis
Laya,
It’s a shame that most people do not live within their means. You seem to understand that making the right financial decisions can have a positive impact on your lifestyle.
I will include financial tips and tricks in my future posts. Please stay tuned.
My husband and I had no debts including no mortgage the first 5 years of marriage. He was then diagnosed with a serious chronic illness. We struggled to pay the medicals send our childen to college and stay in our home. Now some 25 years later we have found ourself in debt over our heads.My husband no longer works and I work 2 jobs but we are getting the debt paid down.
I know we got ourself into this mess but sometimes debt can spiral out of control when medical bills increase and income decreases. You learn to pay now and hope the medical problems get better. You dont have a choice to have heart surgery like you do a car.
Both of my children have learned how to spend in their means.
Julia,
I feel for you and your husband. I can not fathom what you are going through (in Canada we are not saddled with paying for health care). I wish you all the best.
Steve