Americans these days are like the young adult children living with their parents. Their parents are from the Great Generation. They learned the value of hard work and common sense spending. They scrimped and saved, fought two world wars, worked long hours and multiple jobs just to get by. After decades of doing this America became very strong and wealthy. Life became easier and the Great Generation got to settle back and enjoy the fruits of their labors… along with their growing children. But the children matured in that golden age when things seems easy. They were provided for and provided for well. They had no concept of the struggles that went into giving them the easy life that they had.
And they grew and matured. Life was good and they felt good about themselves and the world. They were young adults now but still living at home, and everything was just fine. They knew that someday they would have to move out on their own and do it by themselves, but that was always sometime in the future. So we spent and partied and enjoyed the great things in life. We lived it up.
Well, mom and dad are now passed away or moving into a retirement home. We who never had to *really* live on our own without our parents now are forced to. And we are beginning to see it’s not so easy. We were afraid of this day, and now it’s here. And for the most part we don’t know what to do. We now have responsibilities that we didn’t have before. And worse yet, as a return for letting us live their until we were way too old, mom and dad are asking for help in paying for that retirement home.
What do we do now? We have this great lifestyle and all these great things but now have responsibilities too, and only so much money to do all this. Well, we have a credit card too. The balance is getting high, but thankfully so far the bank keeps raising the limit, and we keep spending. We know it can’t last but it gets us through today. We know that eventually, if not already, we will get to the point where the interest on our credit card will become more than we can afford on our income. And then what do we do?
How do we make it work? Money is stretched thin. We could change our lifestyle and give up those great things we have. But we grew up with them and don’t know any different. We always had these luxuries in our lives and we know no different. Yeah, we basically have these luxuries because of the effort our parents put in, we can say that, but so much its only just words. Without the tangible experience we have no concept of it. We weren’t the ones who paid for these great things with our blood, sweat, and tears.
So we are at a crossroads. The bills are piling up. The debtors are calling all the time and knocking on the door. Drastic times are here and drastic times call for drastic measures. One option is waiting to finally get buried by our debt and declare bankruptcy. The other option is to completely change our lives, give up all the good things we live with and always knew, and live a hard life filled with blood, sweat, and tears???
If we don’t make a conscious decision the decision will be made for us.