"Oh, this weekend was so stressful. I had an unexpected $300 car bill that had to be paid by Wednesday. Luckily I get paid tomorrow." --Working professional with a college degree making $40,000 without any dependents.
"I love Perfectly Posh Cosmetics. I totally want the that face mask. Do you take credit cards? Or, can I bring you the money next week after I get paid?" --Elementary Teacher making $42,000 living at home with free rent.
"Once you break that $20 bill you know it will just disappear" and "I bought these (names expensive hunting equipment) because they last a long time and I won't have money for them later" --19 year old still living at home.
"My husband works so hard for his money. He deserves to have fun." --56 year old who spent $12,000 on a new snowmobile for her husband who works construction. Note-he will have to keep working hard, even when his body is old and tired, because they do not have adequate savings for retirement.
These individuals are slaves to their finances. Money controls their lives--they don't control the money. Though; ironically, I have heard several of these people say that they are, "pretty good with money."
Every time I here comments like these, I just cringe! Why do you live with so much stress and worry? Why do you choose blow your money and live with limited flexibility? How can educated individuals be so foolish with their hard earned money? It really inhibits your ability to enjoy the journey. You don't have to live this way!
Do you control your finances or do they control you?
Mr. H and I live a policy gleaned from Dave Ramsey that helps us freely enjoy our lives without being shackled by personal fiances.
"Live like no one else, so you can live like no one else."
We rarely go out to eat and have never just brought home a pizza for dinner. (We did buy one for a party with a coupon once.) As a result, we have plenty of budget to enjoy delicious healthy foods at home. Shrimp tacos are recent favorites.
We drive not fancy, but reliable, 8 to 10 year old cars that we purchased in cash. As a result, we have never paid a car payment and didn't eat the depreciation cost associated with new vehicles.
We use a credit card weekly and pay the balance in full. We have never paid interest for a credit card purchase. As a result, we enjoy fantastic vacations using bonus miles.
Mr. H and I have chosen to control our finances. We earn, save, invest, discuss, give, and enjoy our money. When we want to go on a vacation, we can go! When I want a fancy cosmetic or outfit, I use my saved up fun money and get it. $20 bills survive in our wallets. Our lives are comfortable and happy because we are not restricted by the timing of our next paycheck.
You can live this way too! Choose to take control of your finances. Stop letting them control you.
“If you don’t understand the language of money, and you don’t have a bank account, then you’re just an economic slave.”
John Hope Bryant, CEO, Operation HOPE