I have to say I think I am blessed. I have never really struggled. I have never been in the position where I had to choose between paying a bill or feeding myself. Granted some of these choices were supported by credit card but I still never went hungry. In my former wild spending days I always made sure I never maxed myself out. I am not sure that it was a conscious choice but some how there was always space on my credit cards.
Having said that I was talking to a cousin of mine who is stressing out over possible moving costs. Her company paid to help her move to a new location and is now crossing their ‘T’s and dotting their ‘I’s. There is some money that is unaccounted for and this has got my cousin stressed. It is a hefty sum of $9000 they could ask her to repay if they don’t find in her favour. My cousin told me that even if she had a year to pay off this amount she could not do it without some of her other debts going into collections. This has me concerned.
My issue with this whole situation is that my cousin has spent a great deal of time telling me that she makes a lot of money. In fact, when we hang out together she used to attempt to pick up the bill cause she thinks of me as the “poor” one. I haven’t yet told her that if you make $100 but spend $101 you are not better off than me making $50 and spending $49.
The fact that this is not the first time she has found herself possibly up a creek without a paddle frustrates me. Any time something out of the ordinary comes up she is panicking over the cost of it as she really can not afford it. This is no way to live. Right now she is Broke with a capital B. But she is still spending money on non-necessities.
Personally I like being able to sleep at night. I like having a little something in the bank just in case. The extra stress and worry is just not worth it to me.
No, I didn’t lecture her about the joys of having an emergency fund.
No, I did not talk to her about cutting out non-necessities for a period of time.
I don’t know that it would be well received. Right now I think she thinks that she is doing all that she can, but there is so much more that she could be doing. BUT I think that if she were to make any more cut backs she would possibly have some sort of breakdown. She views herself as earning well and in her mind, coupon cutting and shopping the sales don’t jive with the salary she makes.
My eight dollar question is should I get involved or just remain mum?