Monday, August 11, 2014

Easy Payments

Most everyone knows that Sherry and I were married at 17 & 18 yrs old.  Two happy kids living off my USMC pay for a PFC.  No extra money to speak of.  We lived in a 26x8 trailer in a government trailer park. For some reason we were in a store downtown J-ville, NC and saw a mixer for sale. You know, the one that will do every thing, two or three mixing bowls and its own little metal table.


I don’t know what we planned to mix, but the salesman said it is $25. I can let you have it on the easy payment plan. I don’t remember the  plan we took $12 a month for 3 months or $6 a month for 6 months.  Which ever one it was, we learned there are NO EASY PAYMENTS.

I was noticing a used car lot the other day, no longer did it tout Easy payments, but “EASY CREDIT”. No mention of payments. (Probably some deep  psychological reasoning).  Either way the person getting the EASY CREDIT will learn soon enough, it ain’t easy.

It is very hard to explain,  saving to buy what you want, is much smarter than paying someone interest, especially a Credit Card at 12-18%.


Our biggest problem in today’s world is we humans want it all, and want it now. So we are willing to pay twice the price to have it, now.

It is not uneducated folk. I have a friend with a doctorate. I did not build his house but I was at his new house making a few repairs.  He confided to me that he had arranged a great deal on his financing. He was  paying interest (only) for the first 8 years, then start on the principal. WHAT? “Sam that can’t be a good deal.”

“Oh yes, they explained all the interest is tax deductible!”



This high school drop out isn’t smart enough to explain that to a Doctor of Education.

Then a year of so later Dr. V. another friend who was a college professor, asked me to look at a job at his daughters house. I told him I was too busy to do the job but I would give her a price so she would know what to expect. Turns out she also has a doctorate in something, and is a career counselor.

After taking a morning measuring and figuring I handed her the form with totals she could expect, no charge. ….At the time we had a son & his wife who needed some financial counseling. I asked her if she ever did that on the side.

“Lord no Jack, I can’t even balance my check book.”


I left shaking my head.

I wish I had a better education. I have studied, attended a couple community colleges taking courses, never  enough credits for a degree.

Institutions of higher learning cannot teach common sense. Financial management is common sense (MY VIEW):

1. You should never owe more than your assets.

2. You cannot borrow yourself out of debt.

3. You cannot spend more than you earn.

4. There WILL be emergencies, you need to save something to cover that.

SO SIMPLE, yet the educated men who run our country HAVE NEVER LEARNED THAT, so the USA owes TRILLIONS.

Nite Shipslog


I am the sort of guy who would rather OWN a TRAILER, than a mansion, on which I made payments.

There are still kids today who know they can buy a fixer-upper, and own it in 6 years. And not be under a 30 year mortgage. (I wish there were more)



Mercury's were famous for a great custom job. 1951 here.


Paula said...

I looove this subject and Mel and I thought just the way you do. Now take John for instance he could afford things but would never buy anything for himself or anyone else either.

Glenda said...

Well spoken, from the gal who has almost 180,000 miles on her car!

shirl72 said...

I'm glad to be debt free. They
make it sound so good. Free Money.
Jack don't say drop-out anymore.
Your IQ is genius level so is JJ and Josh. Poor me had to study for all my grades.. I do have common sense.

I think I will stay debt free and
pass the money with no interest.
It is sad they make it sound so good.

betty said...

I think it all has to do with impulsive purchases is why so many people get into debt. They have to have something right then instead of reevaluating if that is something they really want or even need. It is good to start out as a young couple as debt free as possible and learn you can't spend more than you have. If people got that concept, their lives would be much easier I think.


Chatty Crone said...

You never get anything for nothing do you? There is always a price.

I had a 150K miles on my car!

Susan said...

What an interesting blog! Wanted to thank you for stopping by my blog today and commenting, too! Susan

Mevely317 said...

How I wish someone had set my 18 y/o self down (perhaps with a metal colander and wires on my head) ... and drummed these truths into me. Ya, hindsight is 20/20.
Still, the biggest take-away I'm getting is there's a lot of educated idiots out there, and a fancy diploma doesn't guarantee anyone a smooth ride.

Huggers from (still-toasty) Phoenix!


When we bought my car we paid cash and the salesman was upset because he thought we should buy it on credit.

I'm mostly known as 'MA' said...

Saving up for those rainy days is the best way to go. I try to do that and while there is never anything left over, so far I've been able to just that. You've given out some very good advice today.

Rose said...

Great advice here.

I'm happy to be debt free. The older I get, I realize I don't need everything so I think twice before buying something now. I ask myself, do I really need that?