The day I turned 15, I got a job. I was literally working on
the day that it became legal for me to work.
For my 16th birthday, my parents got me a cell phone. I was ecstatic. That was until I was told that I had to pay the bill myself. Then I was not so pleased.
I had a pre-paid cellular plan. If I didn't keep up on the bill or ran out of minutes, my phone would shut off and I couldn't have anymore late night convos with boy-of-the-month (you know you did it too). My parents refused to bail me out, so I would have to wait until my next paycheck.
I was also one of the last people in my graduating class to get a car. While most of my peers got cars for their 16th birthdays, I didn't get one until the summer before my senior year. Now, I know some people in high school have to save up and buy their own cars. Lest you think I'm spoiled, I'm well aware that I'm very fortunate to just have a car
given to me, but you know how it is in highschool. If
you don't get what
everyone else gets at the
same time they're getting it, there's something wrong.
However, looking back, I am so glad,
SO GLAD, that my parents instilled that sense of patience and financial responsibility in me. The thought of debt stresses me out.
That's not to say that Mike and I have no debt, we do, but it's a
very small, very managable amount.
When my old car from high school (yes, I had it for that long!) started giving out, I kept driving it until we saved up a few thousand dollars as a down payment. That's where that
patience comes in. When we were ready, we traded in my old car and financed a car that was not only reliable, but one we could
afford.
Mike and I have nice things. We've both got fairly new cars, we live in a gorgeous loft apartment, we have very nice furniture, an iPad, a 46" flat screen TV, a state of the art computer. We like nice things, and admittedly, we have expensive tastes. But the thing is, we also have patience and we're very responsible when it comes to our finances. We may want something for
months, but until we're good and ready, we
do not buy it. Being in debt up to our eye balls in unacceptable.
I'm writing this because I know
so. many. people. who are in
a lot of debt. And it stresses
me out! I've gotten pretty good at just not caring about what other people do, or how they live their lives, but
something about seeing other people getting themselves in debt just makes my head want to explode.
I guess because, unless it's debt to better yourself (school, training, etc), there is
no reason to buy things that you can't afford. Self-restraint really is
not that hard.
It just breaks my heart. Unless you work your ass off, ruined credit generally stays with you
for life. Filing for bankruptcy isn't the answer. Dying isn't the answer. Fun fact: when you die, your debt will be repaid with your assets. Any money your family could have gotten as inheritance? Poof, gone! And in the worst cases, if you're married, creditors will go after your surviving spouse. Not a good situation for anyone. Except for the dead person- they got off easy.
Anywho, I'm off my soapbox. I just had to get this off my chest. Too many people are ruining their lives with unmanageable debt and although it may seem fun now, trust, it will come back to bite you in the ass. Yours or your family members'. Be smart people.
Oh, and thanks Dad!
How have you learned to be financially responsible? Does it stress you out when you see other people making bad financial choices?