Warning. This entry is not for everybody. Just those who have either said this or thought it, or more obviously have been told it by somebody else.
Are you over 18? Then you can't use that excuse. Sorry, it's just part of being an adult. If you don't know or are not good at managing money, it's time to learn. It's strange that there is more instruction on how to drive a car than there is on how to handle finances. And, not only does that lack of knowledge affect the individual but it also affects their spouses, children, and our social structure through the welfare rolls, bankruptcy courts, and credit card defaults.Sure it maybe does sound harsh and maybe we should just ignore it. But, the first step to any change is to acknowledge the truth.
What are some of the signs you are not good at handling money?
1. No savings account.
2. Credit cards that are not paid off at the end of the month.
3. Out of money before the next paydate.
4. Having to borrow from family, friends, or businesses just to pay non emergency expenses.
5. Even when you have a job you still can't pay for your basic living expenses such as food, shelter, and clothing.
6. You are over 18, living with your parents, and are not paying for any expenses and still don't have a savings account full of money.
7. You are living with another adult and they are paying the bulk of the living expenses. Marriage can be a great place to hide financial incompetency but even that will not go on forever and is one of the leading causes of divorce.
Of course there are exceptions for the sick and disabled, students, or the temporary inability to do these things due to life changes (Temporary is the key word here).
It's true, our education is sadly negligent on the basics. How to handle money, how to raise children, how to take care of the things we use, and lately how to cook and do laundry. We are expected at age 18 to know all these things but we may never have been taught. I know that I sure have made a lot of mistakes in the last year and have found many weak spots in my own thinking and doing.
The good news is: wherever we are at right now we can learn more! And, we all can learn together! It's time to grow up, take responsibility, and improve the economic health of our nation one adult at a time.
Originally posted August 2, 2009