Posted by: nmontague | August 18, 2010

Stop spending what you don’t have

I think we are in need of some brutal honesty in this world. There are too many people in debt up to their eyeballs. People are losing their homes. Nations are spending Trillions of dollars no one really has. And for what? To keep the illusion that we are prosperous.

Well, the truth is if we are in debt up to our eyeballs, we are not prosperous. We are in fact selling ourselves into slavery to get today what we have to labor for tomorrow. It’s not a viable method of creating wealth. It just creates an illusion. A giant Ponzi scheme that seems to go great until it gets too big and the whole deck of cards collapses destroying lives.

We can blame the banks if we want to. How dare they lend people money! They should just give it a way right? But seriously, how is that going to fix the problem? We can’t control others. We can only control ourselves.

People and even nations need to stop spending before things descend into insanity. We need to return to the principles of industry and thrift. People need to learn how to work and how not to spend. This is a crazy concept to some people. Some don’t know how society could possibly exist with this kind of mentality. But it can. And we will have real economic growth and not just illusionary.

There are times to use debt. Emergencies for example. But we need to be able to tell what is an emergency and what is a luxary. We shouldn’t be selling our futures in a vain attempt to one up the neighbors or to pretend we have more money than we really have. Sometimes things make life easier, but aren’t really necessary.

Some of my ancestors were pioneers who crossed the Great Plains to settle the Western area of the nation. There as an old adage that was popular for their way of life:

Use it up, Wear it out, Make it do, or do without.

We are heading to lean times. There is talk of another recession, there is still debate whether this one is over. We will never get out of it by putting ourselves more in debt. We need to start making our money go farther. We need to be able to be self sufficient. Or we will be in for some really tough times and will be forced to do so or perish. And I am not trying to use that word lightly.

Look in your heart. Think it out in your mind. It isn’t right to mortage our futures for unimportant things now. We need to use wisdom in our spending. Especially Government spending. It’s insane to think we can keep borrowing and spending money we don’t have that get questionable to no results whatsoever. Heck, the money being spent could be making things worse. How would we know? At some point you start losing track of where it’s all going.

Do you want to be free? If you want to be free, you can’t be overwhelmed with debt. If you want to be free you have to be able to budget and get more use of the things you have. These are good principles. Does anyone think all this consumerism is actually good for us?

Grow your own food or as much of it as you can. Be creative with your clothes. I read an article earlier about a woman who took $1 ugly dresses and using her own skills made 365 different fashionable outfits for a total of $365. She has an outfit to wear every day of the year. And she didn’t spend more than $1 for them. This is incredible! And smart!

Look at your life. Find ways to be more efficient and industrious. Look at your time, develop your talents, and prepare yourself. Because if you are prepare, you will not fear, no matter what life throws at you.


1) Determine where you are spending your money. Set up a budget and a plan to save money

2) Instead of rushing out and buying the top of the line product, look to see if something else can satisfy your needs. Look to see if you can get along without such a thing.

3) Save %10 of your income every paycheck. If you can’t manage that, do what you can manage. And don’t touch the income.

4) Don’t spend money you don’t have.

Do this and you’ll have hope for the future. Practice thrift and industry, and you will end up producing real and sustainable wealth.



  1. There’s lots of truth in your post. Thanks

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