- They don’t have a plan.
- If there is a plan, they don’t bother to share the plan with the rest of the household.
- They make excuses for wild over-spending.
- They are too interested in “Keeping up with the JP Morgans, oops, the Joneses”.
- They lack a good understanding of finance. (I.e. not spending dollars to save dimes, not robbing Peter to pay Paul, etc.)
- They have no interest in self-sacrifice.
- They are addicted to the image of power. Buying power is not a measure of real wealth.
- They have a short-term mindset, rather than long-term.
2 replies (most recent on top)
I used to have a spending problem, aka negative cash flow, and one day I told myself, "bubba, you either cut spending or you make more money.". I went with the second option and it worked out great. It taught me focus and discipline, and having discipline is key to controlling expenses. Now I have enough to retire on and ZERO debt.
We need to get back to making money and selling RESPONSIBLY. I realize that the asset cap is in place, but focusing on D&I, complaints, and expenses sets us up for long term "shrinkage.". We need to stay competitive for times when things are better and don't have regulators on us 24/7.
Just my opinion. Good luck everyone!!
I’m going to write an “8 REASONS WHY I LOVE THIS BOARD” post.
Good one, OP.