Yes, I am broke. It is hard to admit but I am a broke guy in need of rescue. I have been thinking about my condition for a while now, and I can, from this point on, trace my depravity largely to myself – the things I do or not do.
One of those things is saving.
I find it hard to put a way a portion of my income for future use. Like many of you I love living in the moment: But this ‘living in the moment’ thing , I am afraid, maybe the bomb ticking away my death at least financially.
I looked in and found out a couple of reasons that warrant my (and your) current financial condition.
No Financial Education.
I went to school and came out with a Bachelor’s degree but nothing practical was taught to me about money and its management. I know the parts of an insect, the reproductive system of a cow, but not the very basic skills of money management.
Well, the teacher may have taught it, but he/she did not emphasize it like he/she emphasized the exam. May be he was familiar with the Bible verse which says “The love of money is the root of all evil”, I can’t tell, but what I know is that I missed a lesson on the “Ugly Beast called Debt and the Beautiful Queen called Saving”. I am so sure I am not alone.
Lacking in Discipline.
I know that debt is ugly but I cannot get myself to look at it that way. I cannot get myself to put away some money for future use. There is always a new phone to buy, an event to attend, a new pair of jeans to check out.
Not saving is easy and who does not love easy things? I do! I know I am not alone on this one.
Do not confuse this with necessary spending; you need to pay rent, school fees, the mortgage, and medical bills, those are necessity. But high-end electronic equipment or your latest model of taste (which does not exist yet) may be unnecessary.
The question to ask now is: “Do I need the item?” “Can I live without it?” If you can live without it then you do not need it. I am going to try this one out. Buddy, prepare for battle in the Armageddon!
The Ugly Demon of Debt.
You identify with me, I know. Debt, in my simple understanding, is what results from spending way over what you earn.
I am in debt, and the debt is growing day by day. Humans are silly creatures, we instead of finding new ways of earning more, are always inventing new ways of spending more.
No wonder the most on-demand items on the market are anti-depressants.
I will say it again; I know I am not alone. There are many more struggling with the ugly demon of broke-ness like I do. But sitting around to wait for that big break will not make it any better, the bigger problem is what I shared in point two. I need to grow up and so do you.