The Cost Of Poor Planning Essay

792 words - 3 pages

Every working person has spending habits, and an income. Unfortunately, these two things do not normally occur in people's lives in proportionate numbers. This often leads to large debt, and a long life filled with personal liability. Many Americans work hard only to spend more money, and increase their debt. They look forward to their next pay raise, or promotion, so they can earn more money, spend it, and subsequently go deeper into debt.

Debt could include credit cards, mortgages, car payments, or anything else owed to another party, usually a bank or lending company. People are normally able to continue, at the very least minimum payments on these debts. This allows them to maintain and enjoy these various luxuries, only to find that they need to work and pay for them at a later time. When these people loose their jobs, due to downsizing, or any number of other reasons, they find it impossible to maintain their unpaid for accessories in life with no income.

How should people handle their unemployment? The decision for many Americans is dictated to them because of this indebted and dependent lifestyle. What are these people dependent on? These people are dependent on, not alcohol, or some other vice, but on their jobs and occupations. They must go out and seek to locate another "safe and secure" job to replace the "safe and secure" one they lost. In their minds, this would allow them to be making money again only to continue to spend it again and also accumulating more debt. As the reader can see, the vicious cycle continues.

Unfortunately, over 90% (and I would guess this is a conservative value) of Americans find themselves heavily reliant on their income from their occupations. The people that are left in society are the people who have worked with their money more intelligently throughout their lives. Imagine investing properly and intelligently, so that you were able to retire at the age of 40, and at this point, continue making an income of six digests (100,000+) a year after retirement, while only making 35 thousand dollars a year or sometimes even less than that, for the first 20 years you worked. Stories like this have occurred, and are not impossible for others to...

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