I hear from friends about their (mostly) grown
children still living at home – or coming back to live at home – because they
mis-calculated how far they could make their paycheck stretch, and suddenly,
they didn’t have enough money to cover the rent and groceries, along with
everything else. Most of us went through something similar when we were that
age, so we agree that it’s part of growing up. It’s how they’ve learned all
their lives; push their boundaries until they get pushed back. Unfortunately,
when young ones push their financial boundaries, it might take them years to
get their finances straightened out again.
Even more unfortunate, some people never learn
how to handle their finances.
But most of us do. And we manage to live most
of our lives paying our bills fairly regularly, even if we are living paycheck to paycheck.
Unless something breaks. We get laid off. A
family member becomes terribly ill. You are forced into retirement in the midst
of an ‘economic downturn’. That last one means that you (hopefully) get a
pension, but it will be a set amount, month after month, while the cost of
living goes up and up. Because of your age, you see the doctor more often, have
more prescriptions to be filled, etc. And you no longer have any chance of
working overtime, no chance of getting a raise to make it easier to pay those
bills.
Suddenly, the collection phone calls coming to
the house phone are no longer for my oldest kid; they’re for me.
What a revoltin’ development.
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