And no deeper in debt!
This month marks yet another birthday, my 48th so far. As this blog is dedicated to my Grandmother, I thought I would use the occasion to share with all of you the best advice she ever gave me. Many moons ago, when I was in my teen years, my Grandmother told me about the importance of staying out of debt. Her exact words were, “If you can’t afford it, don’t buy it.” As my Grandmother was a successful woman in her own right, I took those words to heart and I am grateful to her for explaining to me what none of my teachers ever did… that debt can ruin your life. In this age of everything on credit, I am one of a very few who actually has no debt. No student loans, no car loan, no mortgage… I don’t even owe 20 bucks to a friend. The only debt I owe is to my Grandmother for her sage advice.
I never understood why, in high school where we are supposed to be preparing for life, there was no course about finances. That’s the kind of math all of us can actually use. There does seem to be a backlash to all of this credit/debt mess into which we have collectively gotten ourselves. People like Suze Orman and Gail Vaz Oxlade have made a very nice living teaching others what we should already know, how to get out and stay out of debt.
Perhaps parents should be teaching the next generation not to fall into the same traps as we did. Or even more importantly, get more involved with school curriculum and demand a class on money management. I have seen too many smart people lose everything because a bubble burst (housing, stock market, banks, internet companies etc.) You want your kids to be successful in life, so you make sure they get the best education that your credit score can afford, but send them out into the world entirely unprepared when it comes to handling all the money they will be making from that high paying job they will hopefully get with their fancy degree.
Last night on Real Time With Bill Maher, Mike Rowe (host of a show called Dirty Jobs on the Discovery Channel) was talking about how there are 3 million high paying jobs that companies are desperate to fill in the United States, but nobody wants to do them. This is systemic of another problem facing the next generation of kids today. The idea that everyone is special and that everyone can be rich and famous. Kids brought up on reality television have been bombarded with the message that the only way to succeed in life is to be on TV so they get student loans and pursue a liberal arts degree. Meanwhile, there is a severe shortage of plumbers, mechanics and other blue-collar workers who could be making real money (over $100,000/year) if they weren’t so concerned with being ordinary or getting a little dirty.
It’s important to remember that, everyone is not special… to be special by definition is to be distinguished or different from what is ordinary or usual. There is no shame in being ordinary. There is only shame in drowning in debt while waiting for the world to notice that you are special.
** Note, the links were not provided by me, but were automatically generated and I do not endorse them.
This reminds me of the commencement speech delivered by Wellesley High teacher David McCullough:
“…All of this is as it should be, because none of you is special.
You are not special. You are not exceptional.
Contrary to what your u9 soccer trophy suggests, your glowing seventh grade report card, despite every assurance of a certain corpulent purple dinosaur, that nice Mister Rogers and your batty Aunt Sylvia, no matter how often your maternal caped crusader has swooped in to save you… you’re nothing special.
Yes, you’ve been pampered, cosseted, doted upon, helmeted, bubble-wrapped. Yes, capable adults with other things to do have held you, kissed you, fed you, wiped your mouth, wiped your bottom, trained you, taught you, tutored you, coached you, listened to you, counseled you, encouraged you, consoled you and encouraged you again. You’ve been nudged, cajoled, wheedled and implored. You’ve been feted and fawned over and called sweetie pie. Yes, you have. And, certainly, we’ve been to your games, your plays, your recitals, your science fairs. Absolutely, smiles ignite when you walk into a room, and hundreds gasp with delight at your every tweet. Why, maybe you’ve even had your picture in the Townsman! [Editor’s upgrade: Or The Swellesley Report!] And now you’ve conquered high school… and, indisputably, here we all have gathered for you, the pride and joy of this fine community, the first to emerge from that magnificent new building…
But do not get the idea you’re anything special. Because you’re not.”
Many more days full of life for you in this blue ball.