I live by simple economics. If I don't have the money, I don't spend what I don't have. Now, you can say you mortgaged a house and financed a car, so how does that apply? My answer: That was risk I undertook, with me as the only responsible party.
In the past, I could only afford rent, which meant I lived in a house, or apartment, that was within my price range. In the early days, that was an almost dilapidated garage apartment. It was cheap, but it didn't have air conditioning, was very small and really drafty in the winter. It wasn't much, but I got by. At that time, I had no choice. I could only afford the $50 a month, so that's where I lived.
My first automobile was a 1963 Chevy pickup with a six cylinder and 240 air conditioning (that's both windows open at 40 mph). Parts of it were held together with baling wire. I performed the repairs, even though I had no idea how. I learned as I went. I bought it for $300, which was all I could afford.
So, my advice to cities, counties, states and the Federal Government: Don't spend what you don't have and don't risk taxpayer money for any reason. This method worked for me and it will work for you. If you don't, you'll have nothing. If you don't believe this, why do you think businesses and people are moving away before the final economic collapse?
I remember waiting for a payday and only having potatoes and American cheese slices in the fridge, so I had fried potatoes with cheese for supper.
ReplyDeleteNever went hungry, but that was shaving it kinda close for me.