RE: What Can You Do To Get Back Control of Your Finances?
You have great ideas! The problem today is that kids today have a sense of entitlement that we never had. We didn't expect anything unless we earned it. I can say that a lot of parents buy their kids their first car, pay for all of their education at Universities not close to home, and have already gotten them a cell phone when they were 11.
So, if these kids do the wrong thing, it is because we have taught them.
Okay, now. let me say that you have written a great post and if I were young and starting out, this advice is exactly what I need! And it is true about the same amount left at the end of the month. When I realized this, I immediately upped my investment $$. I paid myself first (after God, of course) :) and am happy that I was smart enough to not fall into the regular pitfalls. Oh, I do charge everything on a cashback credit card, but, pay it off at the end of the month. I have one credit card that gave me enough for a 10-day cruise for two. But, if you cannot pay it, stick to cash. It takes discipline, but, if you want to have an easier time in life, don't wrap yourself in a lot of debt. Don't be so on-demand. Do you want something? Save for it.
Savor the flavor afterward.
OMG... I think I was preaching. Sorry!
!tip
@dswigle - not preaching at all! Everything you said is the truth. And you're also right about the kids today having everything handed to them and not valuing the working and saving ethic. It's today's mindset and the easy access of credit it doesn't take much to get in over your head. And here in America with no universal health care, you better hope you don't get a major illness or have an accident resulting in hospitalization, surgery, and months of physical therapy afterward. Even with your private insurance, you can still end up losing everything to medical bills.
And thank you for the tip!
My pleasure!