Tags

, , , ,

Today I will share a dialogue and I want you to really “listen” and think:

CLIENT: Hey, I just bought a brand new car!!! Am so excited!!

ME: What? How? Can you even afford it?

CLIENT: Well, I am in debt anyway. I will find a way to make the monthly car payments. Don’t be so uptight.

ME: OK, How much credit card debt do you have?

CLIENT: Oh, not much only about $55,000. Others have hundreds of thousands

I will not share the rest of the conversation.

My thoughts on all this, which by the way made me livid: This client makes about $4,500 per month. She has a mortgage payment of $1,800, utilities of about $800, credit card payments $900, groceries, gas etc $1,100 on average. Where will the car payment come from? Where is money to put aside for an emergency fund?

I am flabbergasted. Seriously? No thought about security whatsoever? Big mistake! Everyone in debt seems to think about today and not about the future. We are human, we can get ill, have an accident, need some cash for an emergency.

What is wrong with having a car for 10 years while you are in debt? What is wrong with being more responsible?
Please people! Create a budget and if you don’t know how to do this, contact me. This is ridiculous. This client of mine is 65 years old, has nothing to fall on, no savings, no retirement plan, still works to make ends meet.

I am more upset about this than she is, and all I hear are excuses.

I insist that our education system absolutely MUST include financial 101 as a basic part of their curriculum. We are becoming a nation of people in debt. And nobody is to blame but our choices, our decisions and our aloofness.

I went into debt because I had no choice and needed my small business to stay afloat. Never again! Never! I am debt free now and intend on remaining so. Now that my debt payments are over, I put 75% of this amount that I used to pay monthly, in an emergency fund. I already have 5 thousand. This feeling of security is priceless.

I can’t stop shouting this. I will never stop writing and hoping that my advice does not fall on deaf ears.

It is totally up to YOU. Take charge of your finances! NOW