Money is Great If You Know How to Use it Wisely
Carolyn McFann
December 07, 2007 Throughout time, money has profoundly determined the quality of our lives. Wherever we are throughout the world, whoever has more of it is granted more creature comforts, higher social status and in general has more options available to them. Most of us would like to have endless amounts of money to enjoy life to the fullest, but realize that money isn't everything. It can be a tool to help us pay for things we need, like college tuition, cars, homes or whatever. Those who live the most satisfying lives have learned not to let money rule them; but rather have found a balance to make life pleasant, no matter how much or how little they have in their bank accounts.
In the United States, there is this mad dash to keep up with the Joneses, and have the latest model of car, or the right house. Madison Avenue has taught us to be voracious consumers, buying things to somehow make life better, happier, or at least appear that way. Many people live far beyond their means, but live seemingly wonderful lives. Mismanaging money has dire consequences, and can leave even the most apparently affluent broke and with nothing.
As a girl, I witnessed people my family knew go down in flames financially. My parents were friends for a period of time with a couple who were all about status and overindulgence. We marveled at their big, beautiful home with a huge marble bar, Tiffany stained glass window panels, and elegant pool. They took trips to buy more stuff, and it all seemed quite glamorous at the time. My parents were more conservative with their spending, and though we lived in a big home, they didn't spend lavishly on things that they didn't need very often. Their status-crazed friends, though, became so compulsive about their spending, and the prestige of it all, that they got too greedy. The lovely home wasn't enough, nor was the cook, nanny and maid. They bought another home, which wasn't as nice but was more expensive, and the purchase of it ruined them.
The family lost everything in bankruptcy. Gone were the private schools for their many children, the endless shopping sprees. No more making the waitress take back the lobster that wasn't good enough multiple times. Greed and entitlement eventually put them in complete poverty, divorce and failure. The wife had to go out and get a job, and her husband lost his job. It was shocking for those of us who witnessed it, and a big lesson that money can corrupt and make people do some really dumb things. It's better to be practical than overindulgent.
Through the years, my family has endured financially during some really hard times, because they know that it pays to be careful with money and keeping up with the Joneses is a waste of time. There is always someone out there with a fancier home, car or life so who cares? It doesn't matter. Greed is far from good, and blowing money on stupid stuff can really make life miserable later when that money could've been used to pay for more important things. Being practical is where it's at. For those privileged few such as Donald Trump or other entrepreneurs who worked their way to the top, they can afford the big shot things to impress us all. For the rest of us, though, having great things keeps us all motivated to work hard and achieve our goals. We can live without the fancy Mercedes in the garage, life goes on. My ten year old Oldsmobile sedan does the job just like the fancy cars do, for a lot less money. And, it's paid for. When it dies, it'll be replaced, that's just fine with me.
A quality life means staying within our means, whatever they are. This way, there aren't bill collectors nagging, bounced checks or other stress-producing detractors from everyday living. Being practical keeps spending in check, and gives us a better chance of getting our bills paid. Sure, it isn't easy, speaking from personal experience. As a young woman, I shopped like crazy to keep up with the latest fashions when I probably should've been more financially conservative, but eventually learned my lesson and never did it again.
Sure, there are occasional glitches and mess-ups in spending, but nobody's perfect. It happens. We learn from our mistakes, no matter how grand or small. Just ask anybody who blew all their lottery winnings by buying a numerous sportscars for friends and are back to being poor again. The higher you rise, the harder you can fall. Our most important possessions besides our families are peace of mind, feelings of safety and stability. Those good feelings disappear when we're broke and worried about how to pay the bills. It's our jobs as consumers to enjoy life to the fullest but to guard our well-being by being careful with our finances. Money is great but living within our means, that is our most valuable possession of all.
Tags: Money , Credit , Mortgage , Expense
