How To Dig Your Financial Grave Faster

Written on December 11, 2007 by Tezza

Tuesday’s weekly guide to Personal Finance from 4EvaYoung.com

There is a litany of financial advice out there in the blogosphere, web and book stores to help you get out of debt, invest and manage your financial future. Yet it seems with mounting consumer debt, growing number of families experiencing financial stress and bankruptcy that most people don’t want answers, they just want more ammunition to justify their wayward and consuming ways. If you are a financial train wreck waiting to happen then here are some handy suggestions to quit your stalling and get it over with.

1. Keep Telling Yourself You Deserve It

Keep telling yourself you deserve it every time you walk pass that store window with a new line of shoes or when that new whiz bang gadget that claims to do everything but wipe your ass and blow your nose is flashed in front of your face on TV. After all you have slaved away at a dead end job all day, who cares that your in debt to your eye balls and your credit cards are about ready to explode. You deserve it, isn’t that what you keep telling yourself.

2. Gamble Your Money Away On Risky Investments

You wake up one morning and think you are the next Warren Buffett or George Soros. Instead of embarking on a period of learning and developing a sound investment strategy you jump right in. You gather your families hard earned savings and put it all into the stock market or some other ill conceived business venture. You call it “investing” but everyone else around you sees it for what it is, “gambling”.

You manage to blow your savings in a matter of months what took years to save up. Before accepting the award for “Idiot Of The Year” you try to bail yourself out of the mess by borrowing more money and putting your home at risk. Now you really deserve the award. As they say in poker, if you can’t spot the sucker at the table, then it’s probably you.

3. Keep Up With The Joneses

Even though you never met the Joneses and have no chance of picking them out of a police line up you still feel this urge to own what they own. You imagine what the Joneses life might look like and since your life is so boring and crummy you think by doing this you might somehow be magically transported to a better life. You now own a house that is too big for your needs, a car you can’t afford to fill up gas and a whole bunch of useless stuff that no one cares about but your ego. You realized you’ve been sold the biggest scam perpetrated by multi-national corporations but its too late.

4. Stop Reading and Seeking Financial Advice

Let’s face it, it’s not like you can be bothered to put any of the advice into practice any way. Save yourself and everyone else the trouble and decide that ignorance is bliss as you careen blissfully to your financial grave.

5. Spend Considerably More Than You Earn

Every time you get your paycheck add an extra zero at the end of your take home pay amount. That way you can kid yourself into spending way more than you earn. The reality is that you are probably worth that much anyways, right? It’s just that the company you work for just doesn’t know what your worth or too cheap to pay it to you. So take matters into your own hands and just give yourself the right to spend what you are worth. Let someone else worry about taking up the tab cause you are too busy living the high life. Tell yourself life is short, so why not enjoy it now rather than later. The easiest person to lie to is yourself.

6. Think Your Superman Reincarnated And Not Take Out Insurance

Keep thinking your invincible and that you will live to the ripe old age of 100. Who needs medical insurance anyway and what’s the odds that a catastrophic event will occur that lands you in hospital needing expensive medical treatment. So thousands of people file bankruptcies every year because of a blowout in medical costs, you role your eyes and say that you aren’t a statistic yet so that makes you feel better sleeping at night.

7. Go Down With The Sinking Ship

As irrational as it might seem you feel a sense of duty and obligation to go down with the sinking ship. It could be a business deal that is eating up your money like a black hole, or a house that is going deeper into negative equity than you can say “crap”, whatever your sinking ship is you feel you have already invested so much of your hard earn money, time and resources that it would be silly to give up now. So you hang on for dear life and hope for the best. We all know what happens to the sinking ship in the end.

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