Collections Insider

When I was a child in the 60’s and 70’s my parents paid cash for everything. Not because they were wealthy but because they thought if they didn’t have the cash to purchase something they couldn’t afford to buy it. I also remember my parents putting things on lay-a-way. They always tucked money away for a rainy day not in a bank but somewhere in the house. My parents’ credit was perfect and they prided themselves on that. Today they still behave the same way however my mother finally has a credit card realizing she needs it for on line purchases, car rental and the occasional emergency that exceeds the amount of her little stash. My parents’ credit and ability to pay their way is still very important to them. My parents have been able to retire comfortably. They have a healthy financial conscience.

What has happened to the generations that have succeeded my parents’ generation? We behave as though we have a warped financial conscience. Our desire to have what we want immediately keeps us in debt and with nothing set aside for our future. We live off of our credit cards and scramble each month to pay those credit card bills. We mortgage our homes to the max and drive gas guzzling monsters. What has happened to our concern for our future? What has happened to our accountability? How can we sleep at night knowing that if we lost our job tomorrow we would be penniless and unable to support ourselves or more importantly our family? What did we learn from our parents? Do we believe that they denied themselves of the good life? Do we think that we deserve everything we desire in spite of what our bank books says? Do we live for the moment because we’re told “Life’s too short”? Did our parents deny themselves or did they live responsibly.

The real question is, what are we teaching our children? What are we doing to show them about the value of the dollar? If children accept that it’s normal to worry about money and that couples are supposed to fight about spending, what chance do they have for a healthy outlook on earning, spending or saving money? Do we rely on our school systems to teach them how to balance a check book and to save for their future? Aren’t we supposed to be their guides? Is it too late to pull it together and teach them the difference between needs and wants? Is it too late to remind them that they can’t rely on social security to support them when they retire? If it’s no too late for them then it may not be too late for us.

Wouldn’t it feel great to take care of ourselves financially without depending on credit card companies, finance companies and the government? Wouldn’t it feel great to have money saved for your child’s education? I could really sleep well knowing that my retirement years were covered. I want a healthy financial conscience free of fear, how about you?

Jan Conte is the President of Your Collection Solution, LLC, a debt collection agency out of Newtown, Pennsylvania. She has over twenty years experience in the debt collection industry. You can find more of her articles at yourcollectionsolution.com/blog/.

This entry was posted on Sunday, June 17th, 2007 at 2:02 pm and is filed under Editorials and Opinions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.