Accept Responsibility for Your Finances
Alright America, it’s time to grow up and accept responsibility for your own financial actions. Quit trying to blame your irresponsibility and lavish spending habits on someone else then looking for help in the wrong places. As we age we have to accept that we must be more responsible for our actions in life, especially our finances.
You can’t get your drivers license until you are 16, why? It has been decided by our government that this is an acceptable age at which you are responsible enough to drive an automobile. You can vote at the age of 18 because this has been accepted as an age at which you can make decisions about how your country is run. You can drink at the age of 21 because this is an age at which you should be able to make responsible decisions about the consequences of your actions. Many times people will make excuses about why they are in debt and try the it’s not my fault approach. Common examples include: I was tricked into purchasing something without knowing all the facts, I was stupid with my money, I had a major unexpected event which I wasn’t planning, and there is so much social pressure (keeping up with the Joneses).
First, don’t try to blame debt on something or someone else. Know all the facts about what you are buying before you purchase it, if you don’t know then don’t buy. Before you buy a home, car, or any major purchase read all the fine print. That’s why it’s there to confuse you, but it’s still your responsibility to understand it, if you don’t walk away and do some research before you sign.
Sure we are all stupid with our money sometimes but that’s no excuse for major debt. You should know better than spending large amounts of money on credit cards that you can’t pay for that month. Don’t buy a house that stretches you budget to the penny on a variable interest rate, don’t buy a car and finance it for 72 or 80 months so you can afford the monthly payment, don’t lease a car, etc. You get the idea if you think it’s a bad idea you’re probably right.
There should be no such thing as an unexpected expense, you know you are not going to make it through life without some type of finance problem. What can go wrong will go wrong so plan for it in advance. I understand that sometimes things happen and there isn’t enough money in the emergency plan to cover them, but at least have a plan to take care of them.
As you can see as we age we are faced with more and more responsibility. Many thing there isn’t a set age at which we should assume this responsibility but as far as finances go it should be something you learn at an early age. It’s also the responsibility of parents to teach their children about finances including, budgeting, saving and spending. Teach them about debt and all the negative effects of debt and how hard it is to get out of debt. Take responsibility for your own financial actions and plan ahead for a better future.
Social pressure or peer pressure is a fact of life. We all learned about it early in life and was told to avoid it, but for some reason it’s still tough for adults to understand. Don’t try to keep up with the Joneses!
Accepting responsibility is a difficult task even if it means apologizing to yourself. Learn to manage your money and finances. Admit that you have a problem and start working on a way to fix it.