A few weeks ago, I posted a blog on my MySpace page that caused quite a stir amongst my core group of family and friends. So much of a stir that I deleted it. I typically don't let others dictate my opinion but for some reason I let them get the best of me and I took it down.
Well, as I cAme back from lunch and saw the latest headline about our economy, I feel less frustrated by those who had ridiculous comments about my financial blog and I'm more in a "Open your eyes!!! I'm not the only one trying to tell you something" kind of mood instead. So I'm reposting that blog here.
Financial Train Wreck America
It's amazing to me as I sit back and watch others around me spend money like it's going out of style. Granted, Phill and I have made improvements on our little house here and there, but we didn't just buy it and then borrow a bunch of money to paint and get new carpet. We saved and did it slowly. In order to get a new dining room table, I sold the old one we had. We didn't buy new furniture when I moved in, we made what we had work!
Boys and girls - - get ready. Those of us that are NOT middle class (i.e. making around $500,000/year) are about to hit rock bottom! People are losing their jobs and not able to find new ones. Companies can't afford the rising cost of expenses just like you can't afford it either. Smart people are having garage sales to downsize and have adjusted their expenses to the bare minimums! Others are so far gone they are foreclosing on their homes they've owned for less than 5 years. People who just had to have the latest and greatest new car are now filing for bankruptcy after abandoning their golf course home! And times are about to get tougher than they already are.
I'm proud of a few of my friends who have cut back the non essentials to make ends meet, and who saved up for that garden of their dreams, or cut corners on luxuries to buy new clothes for their growing kids. These friends of mine proved to me that you really can make it in the worst case scenario situation if you're smart about it. On the other hand, I'm seriously ashamed of a few of my other friends that choose to keep going on like they have a money tree.
I sold my Mustang for a reason. TO PAY OFF DEBT! Phill and I are lucky enough to be living below our means and we are completely independent from banks and parents to survive. Yes, I may buy a Dooney or Louie Vuitton here or there, but I pay for them with CASH, not a credit card! My folks helped out with the wedding but the majority of it was brought to you care of Phill & Angela's hard work to get to that point, hence the non-lavish but most complimented wedding I've been to in years!
And since the wedding is going to be paid off by the end of October…yes that's right folks, I paid for my wedding in three months – my next debt under attack is our second mortgage so that when we're through the tough times these next few years, we may actually come out shining on the other side with cash and equity in hand to go straight into the house of our dreams, and still live below our means.
Ask yourself this question – If your spouse were suddenly no longer employed, would you be able to financially survive and if not, what bank do you seriously think would hand over cash right now? I remember when my parents hit hard times and my dad lost his job, my mommy put down the brownie mix and got a job! We also sold our boat, sold our cabin, sold our extra car. We certainly didn't live outside our means. I have no desire to keep up with the Jones. We're the Lollar family of two and I only have myself to answer to.
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