In 1960, I endured a terrible experience after my son was born and my wife nearly died due to complications of giving birth. I also found myself in a bad financial crisis. After paying rent, buying groceries, medications for my son and a sick wife, plus hospital and doctor’s bills I was left penniless after I cashed my check. Adding to my woes was the slow down of my job due to a slow down of the mobile home industry. Instead of working 5 days a week I worked 3. Things were tough for me. To proud to beg I resisted asking my parents if I could move in with them. And, I didn’t have the heart to ask my mother in law, Betty, a widow, for financial help. Back in those days there was no food stamps, rental assistance, etc. You either worked to earn money or you did without!

After struggling for several months I got a part time job in a packinghouse cleaning corrals. I remember getting $1.15 an hour, which earned me 30 to 35 dollars a week. That extra cash kept me financially solvent. It allowed me to buy groceries, put gas in my car, plus pay my medical bills and rent. Soon, my job as a mobile home builder picked up and things got financially better for my family. My wife used to beg me to quit my stinking part time corral-cleaning job but I was adamant to keep it to allow me to save enough money to buy a house instead of renting. After a year or so of saving my part-time job check I managed to save $1,400. It was at this time that I promised myself that I would never if possible, put my family through such a financial crisis by not saving part of my weekly check. Needless to say, that difficult time I experienced without any money taught me a lasting lesson to save part of my paycheck and never spend more than what I could afford.

At the young age of 24, I bought my first house for $6,600 on a 12-year loan. My down payment and closing cost totaled $800, which I had. After we bought our house I realized that we needed furniture. Luckily, Mundens, a furniture store, used to advertise, “Room Full of Furniture for $499.50!” With $600 still in the bank my wife and I quickly went to Mundens and bought a refrigerator, stove, bedroom set, dinette set, and living room furniture for $499.50! Though we were able to buy furniture and not get in debt, I was left with less than $100 in the bank. In time I invited my widowed mother in law to live with us, which she accepted and she offered to help me pay part of the utilities, which was a great help for my then young growing family and me.

Soon, I landed a part time job as a non-union typesetter, which paid me $2.00 an hour. With my day job and part time job I soon began to save money weekly. At the age of 30, after living 6 years in my house I withdrew money from my savings and paid the house note.

After I paid my house I focused on saving for the college education of my 3 kids. As most parents, I wanted a better future for them and college to me was their key to success if they wished to go. But, as most of you parents know, our kids sometimes don’t comply with parent’s wishes. My kids were no different. Though they all finished high school, only one, my youngest daughter, Cecilia, attended college and earned a Master’s Degree in Nursing. Having said that, my other two kids, Larry, my son, and Michele, my other daughter (who is single), are hardworking individuals I’m proud to say. Larry though he’s had issues with drinking and is now a recovering alcoholic is a license electrician and saves his money. My other daughter, Michele, is a Data Entry office worker and earns a good salary. However, Michele is a compulsive spender. This girl can’t keep a dollar in her purse without spending it! Michele spends money as the old saying goes like a “Drunken Sailor!” Usually on dining out, fast food goodies, clothes and more clothes! Her closet is packed with unused new clothes. To be honest, Michele’s bad spending habits are my wife’s fault and mine. During our working careers my wife and I made good money. Thus, we never asked her to help us with the utilities, groceries, taxes, or house repairs. And, we never asked Michele to pay us rent for living with us. Those bad decisions on our part as parents allowed Michele to spend her money like if there was no tomorrow. And to make matters worse, she never saved!

Two months ago, Michele’s wild spending spree came to a screeching halt! She was fired from her job due to some data entry mistakes she made at work. Getting fired made it difficult for her to get Unemployment Compensation. Devastated, without a job, no money coming in weekly and a mountain of credit card bills she came bawling to us for financial help. I then asked her if she had any savings and she replied, “no”. I then told her, “Michele, there is no reason why you shouldn’t have at least 10 to 20 thousand in the bank! You don’t pay rent, help us with the bills, nor help us buy groceries!” Feeling sorry for her, my wife got a loan to tie her over until she found a new job. I then reminded her that we’re getting old and after we’re gone she’ll probably end up homeless or living off the government in a shelter, if she didn’t start saving, which terrified her. Shortly, Michele found another job, plus a part time one. Rolling with cash again Michele sadly has resumed her bad and foolish spending habits.

As I reflect on Michele’s bad spending habits I come to realize that my wife and I are like working American taxpayers and Michele is like the U.S. Government and Obama Administration. These foolish government officials waste and spend out hard-earned tax dollars on untold useless government projects such as: bailing out unions, giving money to individuals who are here illegally, give money to countries who hate us, food stamps and money to those who won’t look for a job, fund useless and unproven workable energy companies many who have gone bankrupt and the list is endless! Our government takes our taxes like Michele takes from us and like her, never spends our taxes wisely. Like Michele, our government is in debt up to the tune of 16 trillion dollars and they still want more from us to keep on spending like fools! Folks, like Michele if she doesn’t change her bad spending habits, our country is heading towards a financial crisis that will eventually hurt all Americans!

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