Don’t Forget Your Real Economic Responsibility

Insight #318

Is this your real economic responsibility?

. . .

I guess I’m too late.

With Black Friday and Cyber Monday behind us, I am too late to remind you it is not your responsibility to boost the economy. Your responsibility is to spend less than you earn so that you can save what’s left over.

What happens if you spend more than you earn? Sooner or later, you go broke. There is no magic to it.

The problem is that it is so easy to go broke. Because it sneaks up on you. As Ernest Hemingway wrote in The Sun Also Rises, one goes broke “gradually, and then suddenly.”

It’s the gradualness that will get you, especially during this time of year. Saying no to spending is so mean spirited when you’re supposed to be generous.

But even so, during this period of frantic shopping, please remember your true economic responsibility. It’s called saving.

Please note: This message does not apply to anyone who is planning to buy me a gift.

Welcome to my side of the nonsense divide.

. . .

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