I have seen a number of headlines lately about how Americans are in debt and their credit cards are going through the roof. I don’t doubt it for a minute. I have stood behind them in line. I have seen then spend. I have observed their choices. I have been in restaurants where big families come in and buy things that I am not sure I can afford. One of our big questions when we look around is, “How can they afford that?”
People as a general rule are in deep debt because their mantra is “I want! I want!” and there are not adults in the room to tell them “No.”
One illustration I can give from my world and I offer it as an example of subjective thinking. There was an extended period where my wife felt she needed to go to McDonald’s in the morning for oatmeal. The nearest McDonald’s is about 15 miles from our house. In addition to that she needed to go to Sonic for an Iced Tea. She had some physical issues and this was like magic snake oil to her. She had to have it. When you add up the cost of gas and food it was casting about $10 each morning. I could make Quaker Apple/Cinnamon oatmeal at home for about 25 cents and tea for a few pennies more. Somehow my oatmeal was not made from magic beans so it did not have the properties of the McDonald’s label. I am not claiming bankruptcy. We could afford it. All I ask is that she not say it is cheaper.
I am sure there are exceptions. I believe there are people who have been frugal and thrifty and still can’t make it. Emergencies can drain our resources. Illness can keep us off our feet. It happens, but it happens in the same sense that there are some children who need Ritalin and sometimes police do pull people over for no reason. At some point in life you need to admit that you can feed a family of four at home for less than one person eating a meal at Red Robin. It may be tuna casserole vs a gourmet burger but it is still reality.
Americans are facing a financial crisis but it is a crisis of poor stewardship. Many are in so deep they don’t see any way out. They have made choices. They continue to make choices. Nothing can be changed over night. Nothing will change until wiser choices are made.
homo unius libri
That's why I'm in the fix I'm in these days, "someone" can fritter money away like sand though a sieve and still have nothing to show for it. I still have to claim responsibility, though, since I let it happen.
ReplyDeleteI thought you had a basement full of rare antiques and vintage implements.
DeleteGrace and peace
That reminds me: Can I borrow $50,000 for college? I promise to pay at least 10% back if I get a job.
ReplyDeleteWill you take a check?
DeleteGrace and peace