Step One: Stop trying to keep up with the Jones's! If you haven't figured it out already they're already way ahead of you. There's always going to be someone with more money, more toys, a nicer car and a bigger house. Stop chasing after these things. A few days or weeks down the road and that "something" that you really wanted and went out and bought, well..... it just doesn't have that luster and appeal it used to. So now that it's worn off, the next thing you know you're off trying to buy the next coolest thing... Guess what folks? It's only going to leave you broke in the end! Instead be content with what you have! (Exclamation point added for extra emphasis)
Step Two: If you don't have enough money for it, don't buy it. It's a little lesson in economics. Far too often when people get stuck in step one, they fall trap to step two. People are willing to make payments on cars, tv's, furniture, toys, vacations and the list goes on and on. It's dumb. Really, really dumb. Don't do it. Seriously... don't do it. If you don't have the cash for something you really want, don't buy it (A house may be an exception)*. Don't put stuff on credit cards and if you do... pay them off right away! Otherwise that sale item you just bought, well it's not going to be that great of a deal if you're paying 9% interest on it. You need to separate your needs from your wants. That 50" flat screen TV is not a need. In fact (And this may just BLOW your mind) Cable T.V. is not a need either.
Step Three: Work hard and Save. Now I know this is going to throw a lot of people for a loop so I'll break it down. Get a job, show up for work, get paid, give, buy and pay for what you need and save the rest. Not sure if you knew this or not but banks still do have savings accounts. That's the money you can use to buy stuff you want when you get enough money. Make sense right? I hope so!
Now if we all just follow these three simple steps (including the government), we should all be ok.
It's just plain ole common sense folks.
*Only buy a house that you can afford and think about the future. Say to yourself, "Self, can I afford this house if I or my wife lose our jobs? Or here's another question you can ask yourself. "Self, can I afford this monthly payment on top of all the other expenses I have (utilities, taxes, food, maintenance)? Think about these things before you buy a house. If you don't, you may just end up in foreclosure.
No comments:
Post a Comment