That’s the advice my father gave to me, when I first found myself in debt up to my eyeballs. I thought he simply didn’t understand. I explained, as patiently as I could, that things like cable TV and renting videos were necessities – not luxuries. I explained how I simply needed more money, and since I worked for him, it was his responsibility to pay me more so I could maintain my standard of living.
He patiently explained that “when you find yourself in a hole, the first thing you do is to stop digging.” There’s no way to spend yourself out of debt. I learned the truth of that, unfortunately, the hard way. “Making do” became a part of my vocabulary, just as “discretionary income” and “charge it” became a thing of the past.
Here’s the problem…when it’s just you – or you, your wife, and your kids – it’s not that difficult to get everybody on board the “let’s watch every penny” train. When you’re a nation, not so much, if only because a lot of the people that are the beneficiaries of “tax and spend” policies vote. [Read more…] about The first thing you do, is to stop digging.
Are you tired of hearing the same old, tired promises from candidates, along with proposals you know just will NOT work, no matter what they say? Tired of politicians pandering to special interest groups, telling us what they think we want to hear? Tired of choosing between the lesser of two weasels come November. Me too. I’m not a candidate, but if I were, I think I’d throw caution to the wind and try honesty for a change. Instead of making a bunch of empty promises I couldn’t keep if I wanted to, I’d tell people the truth, as painful as that might be. This is not a short post, in fact, printed out, it runs to ten pages. I hope you’ll agree it’s worth the time it takes to read it.