What Being 40k in Debt Taught Me About Personal Finance
18 lessons
Tweedle Dee
I once had a friend who was extremely generous. She bought her sister a laptop, her parents whatever they wanted and just as she was about to run out of ‘money’, she would receive a notification saying she was eligible for another credit limit increase. Happened every. single. time. It was nothing short of miraculous.
Spending and acquiring material goods is the norm, a sign of stability and comfort. It shows up across every culture, but I feel like mine takes it to a whole other level.
Other cultures have some safeguards in place. For instance, the basic understanding of what a credit card actually is (i.e., borrowed money, not your money). Big spenders in other cultures also tend to spend money on themselves, not usually on others. Which, in a way, can place limits on how much you spend. For example, your conscience is more likely to step in with guilt when you try to buy yourself that 5th pair of shoes, when you don’t even touch the other 40 already in your closet.
When you’re spending for your family, however, your pocketbook is limitless. You can sidestep conscience and say it’s not for you. You’re not being selfish, you’re doing it for your family. You’re being generous.
