This last week, there have been several runs on the bank. People racing to banks to get their money out. Some people not getting their money because Indy Mac has been shut down and taken over by the FDIC. Now most will get their money if they are under the $100,000 guarantee. If you have not started to get worried before, now might be the time. This is just what happened when the great depression started. different area of the economy started it, but it is still the same thing. And the USA is definitely not “Its A Wonderful Life.”
But the crux of the problem comes down to one huge thing: People living beyond their means. And not by a little. Here are some things that young people today need to consider as they hit the magical number 18 and become official big people.
Family: Or better yet Family Planning. There is this myth in the USA that babies make it better. They will love you and you will feel happy. Studies have already come out recently that show that married couples that do not have children are much happier than couples that do.
Speaking from experience, you should not be having kids if you can not afford them. I will tell you right now, growing up poor sucks ass! There is nothing wrong with being frugal (keep reading below), but I can tell you right now, when you are sick and you can not go to the doctor because you have no insurance and it costs too much really blows. When your whole family has to go pick black berries every summer for money, that blows. When other families have vacations, or do things like go to the zoo, or fair, or museum and you can not because you are poor, that blows. Too many people think that when they get married, it is baby time. It is NOT. If you have a lot of loans, debt, or do not make enough money, do not have kids. Wait or even never have them. For me, being fiscally responsible means I will more than likely never have kids. Someone told me once that I had the personality to be a Murphy Brown, if I really wanted to. Yes, I could raise a child on my own. But I do not have the money to.
So you are a little older and have fucked up and had kids and can not afford them. What do you do? It is called being frugal. Get rid of the fluff and stuff, and deal with experiences. The first thing you need to look at is your housing situation.
First, I am not advocating children sharing rooms. I think in general that each child in your family should have a room of his/her own. As someone who had to share a room growing up, it really sucks. It is even more important when you have an odd number. There was only one boy child and 2 girls in my family. My brother never had to share a room, and that was the worst. It is an inequity in the family that is uncalled for. But if really pinched, you got to do what you got to do. But…. Here is what you need to think about. Do you really need a house? Could your family live just as well in a town home or condo? Do you need a house that has a rec room and a den and a family room? How about a house that just has the bedrooms, living room and kitchen (with maybe a side area for a dinner table). Really, that is all a family needs to get by. Other rooms are nice, but not required.
Renting. Have you ever thought about getting out and just renting. Many times it is cheaper than a mortgage. IF something breaks or goes wrong, the landlord fixes it. Not you!
Location of your home. Great… you like living in the boonies, but the nearest grocery store is 20 minutes away. Is that really practical. How about moving to the city. There is affordable housing/renting in many cities. It may take a while to find the place, it might be a little smaller than you want or does not have all the bells and whistles, but at least you can walk to the grocery store or library or park. Less car repairs, less spent on gas, more exercise, and really more fun in the long run.
Frilly stuff you do not need. Do you need cable TV? No. I have not watched TV from my own device in over 2 years. I still have a TV, but use it for videos. And with the new digital stuff coming, it has started here in Seattle and before when I could not get any channels, it is not fuzzy anymore and you can hear sound. I tried it out after listening to NPR on the conversion. So you would still have some TV.
Net Flix that flix and other smaller cost things. I do not use them. I check out from the library, I get things at Garage Sales real cheap. Value Village or Goodwill, and then there is always half price books. Then you can sell your items back and get some more money for more things. It is on the cheap.
This is all part of real family planning. There is nothing more than what makes me what to yell is seeing a family of 5 or 6, they are dirt poor, and they are all unhappy. I want to scream…. why did you have children when you can not afford them? Can’t you give a couple up for adoption so the kids can have a decent upbringing? People think this is soooo unPC, but it is the truth. No one wants to grow up poor. So why are so many parents insisting on doing that?
Tags: money, family, Poor, Family Planning
