Budget Like Your Grandma

in dtube •  20 days ago


Hi Friends,

Coming out of the holiday season – I hear a lot of people talk about how they had to get in some credit card debt to buy gifts or plane tickets to visit family. For example, I had a friend literally spend about a thousand dollars without batting an eye on gifts just for friends (not even family), all while she’s up to her neck in credit card debt. It’s so sad to see how much our culture feels totally comfortable with the idea of debt.

I tend to take a more old school, simple approach. One that you might hear your grandma say.

Don’t spend money you don’t have.

I feel like all too often people try to overcomplicate things. “Well I get a low percentage interest rate on X, so it’s really not that bad.”

False.

I understand that there are moments when debt can be a helpful tool – but this kind of mindless spending that happens in our modern culture is really trapping people in a cycle of never being truly free. Here are a couple of the key takeaways from this vlog:

  • Question social norms in terms of spending.

  • The value of feeling discomfort with debt. Treat it like the devil himself.

  • Start with the end in mind. Sacrifice doesn’t sting as much when it is going towards a goal.

I guess you could say I get a little fired up on this topic. Not out of any place of judgement, but just because I hate seeing people I love literally have their lives controlled by the stress of poor money management.

I hope that some of you found this vlog helpful and will maybe help inspire you to start the New Year off on the right foot financially!

Disclaimer… I’m not a financial adviser. All of my advice is based on my opinion and personal experience.

Xo, Lea

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great post!

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Thanks dkid! 😘

I love this! Rage against debt!! I feel your passion and agree! Zero anxiety during this episode

This is the advice that we need. So true

Posted using Partiko Android

I really found this helpful as a small creator trying to get places. I was so locked in to the idea of going to a convention for creators this year, but I didn't have the money when I was hoping to have it, so I thought it would never happen. Watching this, I realize that I could still possibly make it by cutting costs where they don't need to be and using that for funding. Not to mention just being more intentional with my creations here on DTube can help immensely. Thanks so much for the advice, I guess I just needed to hear it in a way I understood!

I too have a bad relationship with debt and consumerism we currently foster as a society. The worst I experience is the “save by spending” trap were you buy 2 to get the 3rd free even though you only needed one!

Posted using Partiko iOS

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Omg right?!? Sooo easy to fall into that one! I’ve been there before too!

This is timely and so needed to be heard by many. Thank you for sharing. Old style the grandma way is the way. Spend within your means. 👍😉

Actualy i totally agreed what your grandma say's friend..

It is better to save some money if you have something that you wanted to buy or gift than using credit debt..Grandma advice is great and thanks for shring it with us..

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Grandma knows best 👵

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Agreed :)

Posted using Partiko Android

the. concept to go into debt. for a gift is so vain

you buy something that will probably end up on a shelf unused and collect dust. time to focus on more values vs capitalism

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So true!! Many gifts just end up on a shelf or in the donation pile. Terrible reason to get into debt.

Good day! In my opinion it is important part of our life abbility to save your budget. Sometimes it is better to spend some time but find not so expensive price or find alternative. If to talk about credits than I think it is possible to use them just in case if you buy something really necessary like flat or house. And of course if you understand that you can repay your loan. But it shouldn't be gifts, games, jewelry and s.o. without what you can live.

Posted using Partiko Android

and I did not receive a Christmas gift ... Years ago, gifts abounded today, money is only available for other needs.

We live in a consumerist society and it burns my mind trying to understand how the majority of people who complain about money problems and then live above their possibilities...

Debt is fundamental for our economic system, but I think we have reached a point where people are no longer using their brain while asking for a loan to buy superficial things.

I am really awed about how normalized debt is in North American society. I think that part of the problem is access of very young people to credit cards and the other part is, that in USA in most cases, it is almost impossible to get higher education without getting into debt. That makes living in debt such a normal thing to people that they don't think twice about spending money they don't have.