Quote:
Originally Posted by buildmybudget
I can see you are quite the optimist. And I'm certain you'll just reply and say you are a realist...but what do YOU say to those individuals with "terminal financial cancer?" Would you advise them to just give up? Saying that it can be, in fact, too late to turn things around IS reality sometimes...but that doesn't account for the amazing things we can do as people.
If your solution is to just give up, I think that says much more about you than any individuals financial situation.
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I'm not an optimist, nor a pessimist. You are right: I'm a realist.
To those with "financial cancer" I would prescribe palliative treatments, which will slow the cancer down but not cure it. For such folks, they have little money to budget, or if they do budget, the benefits would be negligible because after buying food, rent, utilities, the money is nearly all gone anyways.
And this "financial cancer" is a huge selling point to younger folks that still have time to plan and build wealth through budgeting.
Being young and off-budget is like smoking cigarettes. One out of ten smokers will get lung cancer.
I "scare" my young adult daughters into saving and budgeting by describing "financial cancer" and lets not kid anyone, those that have it have little hope.