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Molly’s Money

05 Jan

My Co-worker, we will call her “Molly”, is a outgoing smart girl with serious money issues. Oblivious to her very real financial woes, she tells me her 2 cents…I mean that literally. This is an ode to her and our many conversations on Molly’s money.

Much to her defense, it is not all her fault. She went to college with all the hope of what college promises. She thought 4 yrs charged to a couple credit cards, a few loans here and there and a good paying dream job will come.  Ill get to college, credit cards, and student loans in a later post. Along with that she honestly thinks that she can afford to live beyond her means.  This is the root of her problems. She brags about having the newest stuff. If she doesn’t have it she goes on and on about how she needs it. All the while completely ignoring her debt.  She, like many young adults, values materialism and instant gratification.  You know the ones that would plop down any amount of money for the “Cool Greys” but turn their nose up to a Roth IRA. Yeah, thats Molly. She was upset that her cell phone was turned off the day after she bought the shoes. Prioritize much?

After she ranted on about how she really needs a better paying job, I thought what good will that do you.  Getting paid more doesn’t change your spending and saving habits. Giving more money to people with money issues only makes the money issues bigger!  Deal with the issue.

This is the case for far too many young adults.  This is the prime of our lives. You can sink or swim.

Now, I was not a finance major. My degree is in communications so I approach finance in a very different way then your average financial advisor or economist. I won’t look at numbers, percentages, and charts and just hand you a resolution. I understand there are reasons, other than financial ones, as to why people purchase things they really shouldn’t. Still no excuse for living beyond your means. Thats my 2 cents.

pinch your pockets,

nchanel

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5 Comments

Posted by on January 5, 2011 in Money

 

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5 responses to “Molly’s Money

  1. MichaelYoungHistory

    January 6, 2011 at 8:31 AM

    “After she ranted on about how she really needs a better paying job, I thought what good will that do you. Getting paid more doesn’t change your spending and saving habits.” <— great point!

     
  2. Typo-Critical

    January 6, 2011 at 9:23 AM

    “She was upset that her cell phone was turned off the day after she bought the shoes. Prioritize much?” LMAO. I’m laughing because I know people who similarly don’t manage their money well. My younger sister can be like that. She’ll often buy up things for her and presents for her friends’ birthdays, not keeping in mind that her cell phone bill is due.

    This was a cautionary tale that, while I’m not yet fully able to relate, I can get understand and appreciate the lesson. The “Cool Greys” statement was SO spot-on, it’s not even funny. We definitely have to reach a point, as a generation, where we’re as mindful of saving as we are of spending. We get too caught up in “looking a part” or following a trend, that we spend what we have today without thinking if we’ll need it tomorrow. We gotta do better.

     
  3. justinfication

    January 7, 2011 at 3:39 PM

    I love girls that wear J’s!

    Especially the ones who can afford it!

     
    • The King's Law

      January 7, 2011 at 3:42 PM

      #guiltypleasures FTW

       
  4. fnasty

    January 19, 2011 at 8:17 PM

    Great point on more money leading to more expenses/expenditures.

    Look forward to more financial posts.

    Welcome to the ThreadBlog @nchanel

     

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