Prosperity knoweth not the worth of patience

If you have plenty of ready money you get into the habit of wanting instant gratification.

Why slave over a hot stove when you can order up a pizza? Why put up with the hassle of repairing your shoes when you can buy a new pair? Marriage going through a sticky patch? Hang the cost - get a divorce and start again.

To previous generations these easy options were not available - most people had to shift for themselves or go without. Patience is something you develop when you have to postpone satisfaction until you can afford it. There was a time when you had to save up for things - credit was a rarity.

Have now, pay later is a good idea if it is something really needed and you can afford the payments. Using credit for stuff you can well do without is daft - period.



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Prosperity knows not the worth of patience

When people have more than enough they grow careless and start to waste food clothing and other necessity's of life. They take luxuries for granted. Why discipline yourself when there is plenty to go around?

The result is we begin to overindulge, grow fat and lazy and slip into all sorts of bad habits. Drinkers and smokers consume to excess and damage their health. Credit becomes easily available and leads to more excess of consumption. When you have to save for something it forces you to evaluate how much it really means to you and if you can do without.

When your budget is tight you are more aware of the relative value of things and have to get your priorities right.


A Happy and prosperous New Year to you all.

Loans and debts make worry and frets

This is a fairly obvious statement; if you owe money there is always the fear that something will happen to reduce your income. If you fail to pay up on time there will be penalties and eventually you might lose your assets. When you awake in the "wee small hours" and what if scenarios start running unbidden in your mind the proverb: neither a borrower nor a lender be seems like solid advice.

The person who gives a loan has the corresponding worry: "What if I don't get the money back?" As they say: If you owe a hundred and you can't pay you are in trouble. If you owe a million and can't pay the lender is in trouble.

In the modern economy, credit is essential for most people as they need to buy things now not in twenty-years time when they have saved up the money. To borrow to invest in a business or buy an essential can make good sense if you have carefully worked out the risk. To borrow to finance a luxury you do not really need is not wise. Previous generations would probably have called it sinful.

If something can go wrong it will go wrong so it is prudent to assume some setbacks and give yourself a safety margin.