TALK IT LIKE A DEMOCRAT, WALK IT LIKE A REPUBLICAN

No, I don't mean in every aspect of life.  I'm talking about personal finance, folks.

We liberals advocate for a country that looks out for people, where our tax dollars are used to feed the hungry, tend the sick, and help the helpless.  But I want to ensure, to the best of my ability, that no matter which way the government goes, I won't end up having to be one the unfed hungry, unhelped helpless, or unattended sick.

Hear me, liberal friends!  Hoard some money!  The plumpest nest egg you can.  Maybe a lot of us are already on the ball when it comes to this.  But if not, get on it!  Even if conservatives take permanent control of the government, gut Medicare, kill Social Security, tear down the safety net and burn it, be ready to stay afloat yourself.

There are people in this country who are really not in a position to save up anything.  Every penny they earn is necessary just to keep body and soul together.  I'm talking to the rest of us.  If you're reading this blog from home and not from the public library, if you've been to the movies this year, if you have CDs and DVDs on your shelves, if you wear clothes that nobody owned before you, then you have some measure of disposable income.  Keep on donating to your church and your favorite charities, but take a look at the money you've been giving to enrich the Walton family and the Visa company.  Make sure that you're setting aside some money to enrich yourself.

Our family has an income that qualifies us as "the working poor."  The young'uns and I dress in secondhand clothes and I drive a 20-year-old car.  Only a few times a year do we eat at a restaurant that doesn't have a drive-thru window.  I quit using my Blockbuster card when I figured out that I could check out movies from the library for free.  I'm not telling you this stuff to get sympathy.  I don't feel sorry for myself.  I have no debts except mortgage and student loan.  And I've saved up that emergency fund that we're all supposed to have.  Six months of living expenses.  And I'm working on my IRA.  It's still pretty darned small, but I'm proud to have anything considering our income level.  I'm telling you all of this just to say that where there's a will, there's a way.

If you're in debt, sit down with a calculator.  How much money are you paying every year in interest?  What if you could give some of that money to your favorite worthy cause and put the rest in the bank?  Wouldn't that be tasty?  Work on getting those greedy capitalists out of your life!

America may never get its priorities straight, so the more money I can put away toward my old age, the more public resources there will be available for people who have nothing because they spent their best years supporting a family of six on a $7/hour job with no health insurance.

For ideas on budgeting, saving, and debt reduction, check out Dave Ramsey (a conservative Republican who thinks that nobody should ever ask the government for a dime).  Start down the path of thrift by listening to his radio show archives for free instead of buying his book.  Also, check out The Millionaire Next Door from the library.

Comments

[kimj]

Excellent post.

[JaneD]

My suggestion is to check out the "Automatic Millionaire" by David Bach. It gives ideas on how to set up a system so you can build a nest egg without sabotaging yourself. I also like his "Smart Women Finish Rich". That help you decide your financial priorities. Why spend money on things that are not important to you. My kids have decided to forego McDonald meals for a trip to Disneyland. We are also spending more time walking to the park in the evenings rather than going shopping. Little choices that add up.

Good going.

JaneD

[Jesica]

Budget Advice Articles

This comment has been edited.

This was a very long comment which referenced and linked to a bunch of financial planning articles that are featured on the commenter's website.

Since that is indeed the topic that was under discussion, it probably wouldn't be considered spam, but it was really long and I wouldn't be surprised if it is a pre-written comment that she puts in many blogs.

I deleted the text, but if anyone is interested in reading the articles, they are at the URL link in the commenter's signature.

-- Joan