Financial Insecurity is Back in Style

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If you were reading this blog last year, you should remember this story.  Since this is an old story, you probably figured that, better late than never, but she has finally turned her life around. After all, she is (even) older and wiser and has faced enough challenges in her life to have learned her lesson. If that’s what you thought, you thought wrong. The money nightmares are back.

Back in March she bought herself a brand new SUV. Hot off the lot with all the bells and whistles: leather seats, GPS, sunroof, etc. Given her poor credit and the high cost of the car, she’s looking at a $480 monthly payment not including insurance which is another $250. Two weeks ago, she slipped down a flight of stairs and she is now collecting disability payment in the amount of $300/week until she completes rehab. Excluding all utilities, her share of the rent is $600. I’ll save you the trouble of doing the math: she has once again placed herself in a situation where is back on the brink of financial instability.

It is critical that people start making calculated and responsible financial decisions. It would be an understatement to say that I am disappointed in the constant self-sabotaging practices that we engage in. It is as if we are not just satisfied with being mediocre. We are behaving as though we find excitement in the struggle and we chase it endlessly for the thrill of living on the edge. There is no other explanation for why someone making $15/hour would buy a $40k SUV after losing 3 other vehicles to repossession.

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