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Some People Are in Bad Shape March 22, 2008

Posted by pf in Expenses and Savings.
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Today I ran across a piece on CNNMoney entitled America’s Money: In their own words.  It was 19 quick snapshots about different people’s current struggles with money.  In a word…depressing.

While it’s no secret that Americans are over their heads in debt and many are struggling financially, to read them and see their photos really brought it to life.  I read each and every one.  At the end, I found myself very thankful that:

  • I am gainfully employed
  • I have adequate health insurance
  • I have virtually no debt except for my mortgage

Although all financial hardships can not be avoided, it is clear that many situations are easily prevented.

SPEND LESS THAN YOU EARN.

Common sense, yes?  Unfortunately, the old saying that “common sense is not so common” rings loud and true in personal finance as in life.

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Comments»

1. Bad Debt » Blog Archive » Some People Are in Bad Shape - March 22, 2008

[…] Read the rest of this great post here […]

2. joetaxpayerblog - March 22, 2008

I’m glad you posted that “many situations are easily prevented.” This is true. I find when trying to help people, we first start with their budget. They always have a list of things that are not up for discussion; cable with all the pay channels (there’s $100/mo lost), all the impulse buys, a book, a magazine, the $5 lattes.
Those who have a medical issue or hit hard times due to a job loss get my sympathy, but too many employed, healthy people live paycheck to paycheck of their own choosing, i.e. their own bad decisions.
Joe


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