They're in Debt up to Their Eyeballs

I am constantly reminded of that commercial where the man talks about all the great stuff he has and finally at the end he says, "I'm in debt up to my eyeballs. Somebody help me." Or something along those lines. I have actually turned that in to a little mental technique that I use to help me in my journey of debt repayment.

Just as a quick example, I was recently told about a woman who went to a store and found a great deal on a pair of diamond earrings. She called her husband and he came back to the store with her. He told her she could spend up to $1000. I believe she spent around $800, and this was considered her Valentine's Day gift. That is more money than my husband and I spent on each other for Christmas combined!! In relaying the story to my husband, he said, "well, that is a nice gesture if you have the money I guess."

Exactly, YOU GUESS! Most of the time we think, wow, those people must be doing really well. Or, I wish I could spend that kind of money on my spouse. In other words, we beat ourselves up because we can't afford to spend like that. However, I like to think that all of these wonderful gifts were put on a credit card that most likely was not going to be paid off by the end of the month. Now, I am not big on jewelery thank goodness, so it is not a jealousy issue. It just helps me to remember that you cannot tell what someone's finances are like by what they are able to purchase. Almost anyone can put a couple thousand dollars worth of merchandise on a credit card. And, a lot of people do so with no regard to how they will eventually pay it off. I used to be one of these people. Thankfully, now I am not.

I think this idea of pretending everyone else is going in to debt works for many reasons. The first one is that in many cases it is true. Most of the people that I know have similar incomes. If I can't afford it, they probably can't either. Another reason, and maybe the most important, is that it helps me focus on what is most important right now. Not stuff, but getting out of debt. I will do anything to keep from adding to that magic number that I am trying to pay off. It also helps me realize that some people have not had "the revelation" yet. They do not realize that eventually all this stuff has to be paid for, and their future is not secure until it is all taken care of. I am learning this at a fairly young age and I see this as a great opportunity for me and my family.

Now, I would never say this out loud to someone who just purchased something I think is frivolous. It is just not my place. But, I will continue to think this way when I see people throwing money away. And, hopefully it will continue to strengthen my own repayment efforts. So, the next time you feel down because you can't "keep up with the Joneses" just pretend they are about to file bankruptcy. It helps... I swear!!

They're in Debt up to Their Eyeballs

https://picturewealth.blogspot.com/2008/02/theyre-in-debt-up-to-their-eyeballs.html

I Have Will Power?

In case you aren't aware, credit cards are the easy way out. Yeah, of course you knew that. But if you haven't completely stopped using yours you can't possibly imagine the amount of will power it takes to KEEP not using them.

My family has recently had some misfortune that in the past would have had me running to the store with my credit card, but not any more. And, my husband is finally jumping on board too. He recently had a little accident with our lcd tv. While he would like to take out a loan and buy a new one, I have convinced him to save for it. So far he has nearly enough money to buy the new one. The best part is we will own it free and clear.... well, except today my daughter threw his cell phone in the bathtub and he had to use some of his "tv money" to replace the phone. But hey, he actually HAD money to buy the phone. In the past I would have listened to him complain about it until I finally broke down and put it on my card. (He does not have any).

What I find funny is how hard it is to not want to take the easy way out. I know how much I hate being in debt and yet when these things happen I really have to stop myself and put it all in perspective.

I guess what I am really trying to say is, if you are on this journey with me, I am really proud of you and you should be really proud of yourself. It is the harder way to do things but your future self will truly be greatful.

By the way I will be back soon with a complete report on this month's grocery challenge!! I have one last receipt to check out and have to put it all together.

I Have Will Power?

https://picturewealth.blogspot.com/2007/09/i-have-will-power.html

Objects in the Rear-View Mirror May Appear Poorer than They Are

I passed a woman while driving the other day. She was in a convertible with a beautiful scarf around her head to combat the actions of the wind while she drove with the top down. She was turning into a casino parking garage. My first thought as I passed in my "soccer mom mobile" was, "wow, I'd love to have a car like that, it looks fun." And surprisingly, for the first time EVER, my second thought was, "I bet she's in debt up to her eyeballs like the guy in that commercial." Of course his next phrase is, "Somebody help me."

I began to think what a turn around this was for me. From reading, both on the internet and finance books, I have come to truly understand that you never know what is going on just based on what you see.

Maybe that woman is in debt. Maybe she is married to a very rich man who just buys her whatever she wants. Maybe she saved every penny for that car (while taking care of all of her other financial responsibilities) and is now enjoying the fruits of her hard labor. It really doesn't matter what her situation is, it shouldn't have any bearing on MY life.

What it made me realize is that for ME in MY situation, I could not afford a car like that and still meet my other financial goals. For that reason, I am fine with my "van" (it isn't a van but my husband and his friends call it one to tease me) More than that I realized that I have finally gotten my priorities straight. Now when I see someone with expensive clothes and accessories, I imagine what her credit card balance must be- always higher than mine of course. And in all actuality, it probably is.

Objects in the Rear-View Mirror May Appear Poorer than They Are

https://picturewealth.blogspot.com/2007/07/objects-in-rear-view-mirror-may-appear.html