Your Friends Influence Your Finances Way More Than You Think - Page 3
Big Debt With Bigger Delusions
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America runs on credit card debt, and maybe your friends do, too. There will be times when you’re in a bind and you need to put emergencies on a credit card. It happens. But some folks are paying for a lifestyle they can’t afford on a credit card. They’re just making those minimum payments and letting the debt skyrocket. Their plan? That one day, they’ll get a windfall of cash when all their dreams come true. And they’ll “just pay it off then.”
If you have friends like this, while their self-confidence is admirable, their actions are dangerous. Going on vacations and buying designer clothes you don’t have the money for, with the hopes that you someday will, is not a smart game plan. Friends might try to mask their financial negligence as “believing in you”: “We believe you’ll sell that screenplay one day and be rich. So, you can afford those $1,000 shoes.”
Yeah…no.
Live within your means. Your current means – not some future, hopeful means. And surround yourself with friends who do the same. If you do get that windfall of cash one day, you’d probably rather spend it on a house than pay off credit card debt, anyways.
