Friday, February 4, 2011

Back for the first time............

Well here's a scenario a person at the age of 24 decides the best thing in life is to be fashionable and up to date with the hottest trends at the mall. The Mal-financially educated person decides they should indeed have a credit card: not one, not two, but three. Starting with a credit limit of $500 on one card, it almost appears the screeching noise coming from the hangers on the racks is addicting; as the scrolling speed increases while looking for more things to buy.  After selecting 27 items and checking out at the register the total comes to $494.74; well your transaction was "approved".  Walking out the mall proudly holding their head high thinking of all the compliments that will be received in their new attire one thing that hadn’t been considered is the financial choice that was just made was going to follow them for the next 3-5 years.  

    Here's the point,  were not making purchases wisely and thinking for the long haul. Are we stuck on the right know? I would have to answer yes. There are people in the world that still don’t understand the meaning of the word 401K. The question is why? People say “ooh money isn't that important" or “I just don't have enough" or "I’m comfortable"
.   Truth is the same people that told me that they were comfortable are the same people seeking modifications for their homes; these are the same people that attempted to get rid of their stocks once the market crashed and the same people looking for help in this horrible state of economy.

    I believe this current state of economy leaves room for negotiation.  We need to be smarter negotiators whether at buying a home or buying anything.  I think it’s time that we drop the habits and tendencies that landed us here in the beginning i.e. over spending  and being uneducated on laws that effect us financially.  Let’s drop all of those habits and start new “start fresh”, start educating our children before they go to college and tell them the true meaning of the word debt and how they can AVOID it so they don’t have to suffer.  If your currently in debt find a way to get out. Whether that means picking up a extra job regardless of the income your that much closer to a peace of mind. Let’s come back into the financial world for the first time.

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