OK. Tell me.
The theme of the conversation was how be smart financially both during and after getting out of debt. Not a bad topic really. Should take about one minute to communicate. (See the end of this entry for the answer.) She talked with a 30 something man who just bought a new car, fully financed of course, and then lost his job. Another couple, both working stiffs making good money, couldn't do much more than pay their bills even after 'catching up.'
"I feel so badly for you. Who would have expected you'd lose the job so quickly? Let's help you work out a payment plan with your debtors. If you call and ... blah, blah, blah.
"It's really hard isn't it? We work like crazy (buy lots of toys on credit) so we should be able to 'make a living' and have a life. The main thing you need to do is have a budget.... blah, blah, blah.
NO! It's NOT hard. I'm losing my patience and screaming at the TV. We're not talking about the working poor here. We're talking middle and upper middle class with regard to income. There is no excuse. I'm going to save you reading a ton of books and listening to talking heads pamper your weak minded selves. One sentence. Memorize it. Live by it from now on. You will be much happier. I promise.
Don't buy what you can't pay for in CASH. The only exception being your house and for goodness sake don't buy a house you can't put down 20% on and have a 20-30 year mortgage. Don't get me started on 40 year, adj rate, no money down homes you never should be living in or 7 year auto loans, or huge TV's financed no interest for 3 years, or that new bedroom set no money down and no payments for 18 months your spouse just had to have either! Wanna stay out of trouble? Don't buy what you can't pay for in CASH.
End of discussion.
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