Are You Financially Irresponsible?

by Darwin on July 29, 2011

A great many people express concern over their finances and are worried about the state of their spending habits. The simple fact is that many Americans struggle with this issue every day. Overtime, we develop bad spending habits that we may not realize are terribly detrimental to our financial security. It’s part of living in a market economy where spending is underscored constantly. We’re directed to spend on things we don’t need simply because advertising convinces us that we, somehow, deserve it. This behavior can lead to a people becoming financially irresponsible in ways that they might not even realize.

It’s not as though we spend on things that we need, such as funneling our finances towards beneficial endeavors. Millions of Americans spend their money on things that will create a solid foundation for their future with things like investments or a South University online degree. Far too often, our monetary resources are placed towards ancillary items that cause us to live from check-to-check. This is an issue that some, but not all, people experience out of choice. We’ll spend money on things we don’t need, and then complain that we don’t have enough money in the bank. Unfortunately, not many people stop and ask themselves if they really needed that new 50 inch flat screen television.

It’s important to also note, concerning the issue of living check-to-check, that sometimes individuals simply don’t make enough to get by. This might be due to a lack of education or a job that just doesn’t pay enough. Perhaps these individuals have too many dependents or have a single status where there’s only one income coming into the household. Either way, this issue has been a top priority, and the only way that people can get out of the fast food kitchen and into the office is through higher education. There are many government programs that are designed to help those individuals crawl out of their economic status and get people into better paying jobs with trade or a nursing degree. It’s only through education and self-introspection that people can begin to understand how to become financially responsible and how to stop living beyond their means.

It’s only through people educating themselves that they can begin to understand how to live more responsibly. Bankruptcy rates and foreclosures have become one of the leading issues during the most recent financial collapses. Though the banking system showed a pervasive neglect of their finances, part of the blame is also on the part of people buying houses and taking on far more debt than they can afford. This lack of planning and irresponsible action has only worsened an already bad situation. People, in order to become more financially responsible, must stop and think about what they might be doing wrong.

Sitting down and planning out a long-term approach towards balancing a budget is the first step in getting your finances in order. There are tons of resources for individuals, faced with hard times, to employ and direct loans are not always the answer. There are financial services from investment professionals that will give you the tools you need to change bad habits and get consumers headed in the right direction.

{ 1 comment… read it below or add one }

Edu July 29, 2011 at 11:35 pm

Great post! I don’t understand why more people don’t understand the need for personal empowerment / education about their finances – spending AND earnings – especially given the circumstances we’re living in now.

There used to be a Public Service Announcement that would come on during some of the cartoons I watched when I was younger (G.I. Joe, if I’m not mistaken)… that used to end “…and now you know” and the kids would chime in “and knowing is half the battle”. This is SO TRUE of personal finance issues. Knowing your situation and how to improve it is 1/2 the battle. The other half is the maturity and responsibility to stick to a plan over the long haul.

Thanks for the great blog! I’ve been reading you for a while – and you’re one of the bloggers that motivated me to start my own. Thanks!


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