Three of David’s co-workers have declared bankruptcy, one of them three times during his lifetime. Unbelievable, because they earn much more than David. They obviously over extended themselves, financially.
I really admire my husband for being a good provider. Despite his demotion and $23,000 pay cut in 2010, we have been able to live quite well, mainly due to a reverse mortgage. Please google it if you don’t know what a reverse mortgage is. Last year, we had a new roof and solar water heater installed, and we visited India for 15 days. This year, we are going to stay on the East coast for a week.
But, David has always been good with money. When he was a young teenager, David had a newspaper route in the afternoon. With the money he earned, he purchased a telescope, a movie camera, a movie projector, and a movie screen. Amazing! These are things I never had as a child. Heck, in those days, I didn’t even own a stereo! David didn’t beg his father to buy those items. He bought them himself.
As a comptroller, he often sees fellow employees ask for an advance on their paycheck. He has never done so. We live within our means.
David’s advice: MANAGE YOUR MONEY WISELY!!! PAY OFF YOUR CREDIT CARD BALANCE AT THE END OF THE MONTH AND DON’T GET INTO DEBT.
I hope we never find ourselves filing for bankruptcy. How humiliating that would be.