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Tuesday, July 12, 2011

Spendthrifts Live Beyond Their Means

People never cease to amaze me. Right now, I am thinking of people who do not know how to manage their own personal finances. I know many people who have well above-average incomes that are constantly in debt and who are always asking for personal loans from relatives and friends to bail them out of yet another financial mess in which they have gotten themselves.

Even after all these years, I am still constantly amazed at the people who irresponsibly spend money without regard to paying the debts and obligations they have already incurred. More often than not, they are spendthrifts living beyond their means in a lifestyle that others would find luxurious.

Even though these people are deeply in debt, they continue to spend money as if money was burning a hole in their pocket. And all the while, they will continue to borrow money from their family and friends who have less income than they and who live a much more modest lifestyle. In fact, the spendthrift will be living more luxuriously than the person from whom they borrowed money.

To exacerbate the situation even more, there is the spendthrift who has become a moocher and who is very slow, or does not even attempt, to repay the person from whom they borrowed money, but instead will go to the movies, dine at fine restaurants, buy personal luxury items, go casino gambling, and more, even borrowing more money from the same person, who is oblivious to the extravagant lifestyle, or borrowing more money from others. These are not your everyday spendthrifts; these are the moochers that have no pride. They have no conscious.

A spendthrift is a wastrel is a profligate. Reckless spending seems to be a frequent everyday occurrence for the spendthrift. Not mindful of spending money, the wastrel will make purchases of unnecessary and unneeded items. Not conscious of the value of the food dollar, the profligate will usually dine outside the home.

Rather than making a car payment or a house payment or pay a utility bill, the spendthrift will buy a new television set, a new cell phone or blackberry, lottery tickets, some video games, a household or electronic luxury gadget that really is not needed, a daily soda pop at a fast food drive-through just because it is convenient, 2 or 3 car washes per week, etc. The wastrel will go down to the bar to drink with friends and buy a round of drinks for the house, maybe even bring in some fast food items as an additional treat for their bar buddies. Oftentimes, these profligates go out to restaurants to eat most of their meals rather than prepare meals at home that is, of course, much more financially efficient.

Hey --- What's that you say? Oh, you remember the entry "Money burns a hole in my pocket" that I made on December 14, 2009 in Roland's Ramblings. Oh, oh!

1 comment:

Hooda Thunkit (Dave Zawodny) said...

Amigo Roland,

Just for a minute there, I thought that you might have been writing about our "wonderful" Congressional folks (in general, and our country's welfare system in particular)...

But then I realized that it was not in your nature to point out (directly) the shortcomings of others, especially our elected royalty...


BTW, I did get the real intention of your message, that didn't slip by me.

Carry on ;-)