Keeping Up with the Jones': Society's War

I first wanted to write about families living beyond their means, by applying for multiple credit cards and most certainly digging a hole that most cannot escape without professional help. After spending a day at Coeur d'Alene Lake in Idaho, I now realize the potential danger that Americans experience each and every day, especially during summer months where temptation can be at its highest level.

Keeping up with the Jones' is a catchphrase that describes the comparison of a person to another in regards to materialistic accumulation. These materialistic objects can be something as small as a new High Definition television, or a $50,000 boat that boasts all the new high tech accessories. The problem in today's society is not necessarily the accumulation of toys and gadgets, but rather the purchase after purchase of these "feel good" toys without taking responsibility for our income to debt ratio.

Most Americans have at least one credit card with a balance that requires monthly payments, which is fine as long as these payments do not require "choosing" which bills to pay for the month. Paying one credit card payment with another credit card is never a wise choice and neither is purchasing a new car, boat, motorcycle, or anything else for that matter if you cannot afford it. Common sense tells me that not all Americans are choosing their purchases wisely, or maybe some of them just do not care?

Unfortunately, there will always be neighbors and friends who are able to afford a brand new house without burning a hole in their pocket, that's life! If you find yourself on the "comfortable" side of the fence, good on you for your successes. If not don't let temptation take over your mind. I always tell people to follow their gut instinct, because a person usually knows whether or not a purchase is a good idea within 5 seconds of entertaining the idea.

While understanding society's ranking ladder, a person must sit down and calculate a new purchase before going to a dealership, before heading out to a real estate office, or before heading to the electronics store down the street. Your income to debt ratio should never exceed 50%, which tells me a vast majority of Americans are already living beyond their means of a profitable future. Medical bills, dental bills, groceries, insurance, utility bills and other necessities are often pushed aside for a sporadic purchase. It's a great feeling to bring home a new toy, but what's the use of buying a new boat or house if you can't afford it?

One irresponsible purchase could result in losing everything, should a loan office or credit company come knocking on your door asking for the money you owe. A small purchase can cost a person all their materialistic possessions and then some when including the love and trust of family and friends.