I have found two new guilty pleasure shows on TV, one is 16 and Pregnant on MTV (that one I can’t even talk about right now, I’ll save that for a separate rant) the other is “I Didn’t Know I was Pregnant” where women explain how they can go 9 months carry a child and then claim they never knew they were pregnant. What does this have to do with Personal Finance, you may ask? Do you know someone who told you, “I didn’t know I was that far in debt ?”, I know a few (and I am pretty sure I have met others who just wouldn’t admit to it).
How Did I get This Far In Debt?
That is the second question after someone asks once they figure out they are “going under” from their debt load, and the question in this case is the answer. If you are asking that question, but you know you are in deep financial debt, your question answers itself since you had no idea what was going on in your finances.
Finances need to be watched and monitored (at least read my articles on Quarterly Personal Finance Statements), or you are asking for trouble. If any of the following statements resonate with you, it’s time to look at your personal finance story:
- I don’t know how much I spend on:
- Entertaining and Vacations
- Eating out
- My car
- I never read my monthly statements on my bank accounts or my investments
- I don’t know what day my credit card (or any other bill) is due
- I eat out a lot because I don’t have time to cook at home
- I use my credit card to pay for everything
There are about 300 more statements like this I can make but let’s keep this list short, if you are not keeping track of your finances or you don’t care, you are going to be asking, “How did I get this far in debt ?“, very soon (if not now). It does not take long to figure out where you stand if you are honest and you have all the pertinent information, if you don’t have it, go get it.
Can someone get pregnant and not know it until the deliver, I am skeptical about that. Can someone get into debt and not realize how bad it is, until it is too late? That I am sure happens more often than anyone would want to admit.
Maybe I have stumbled across the next great TV Show Concept? Don’t think so, Gail Vaz-Oxlade and others already have this topic covered.