When reading My50syear blog, I came across this video Your Thrift Habits. I think it is so awesome and in all honesty, should be shown in schools today. I do not care how hokey it looks to modern eyes, it is still a valuable lesson.
When did we lose the idea of putting money aside? When did we decide there is no reason to live within our means? Everyone says it is when credit cards came about, but was it just that? How do we refuse to accept it as also partly our own fault? Sure it is easy to blame the banks, Wall Street, mortgage companies, and let us be honest, they have behaved pretty nasty and then got bailed out. But as consumers, we also have a responsibility. For those who wanted to live larger than life, I hold them culpable for their own situation. For those who lost jobs, had medical bankruptcy, I feel for them. Crappy of me to be choosy I know, but it is true. You bought a $500K house while making $40K a year, you are a jackass for thinking you could handle the payments. "But the bank said I could." Banks lend money with interest, that is their job, and most people should know that. Ahhhh ignorance is bliss.
Okay, I did not want to get into a long post about financial situations since there are more than enough news feeds and blogs about the topic. I just wanted to share the video which filmed in 1948 is timely in 2011.