We recently had the opportunity to watch both the 1971 “Willy Wonka & the Chocolate Factory” and the 2005 “Charlie and the Chocolate Factory” with the family. It got me thinking if Veruca Salt was a real person she would have a reality television show of her own. I’m sure it would be as popular as “Keep up with the Kardashians.” I want an Oompa Loompa now! I don’t think there is one sentence that better sums up why people have so much debt today. Veruca Salt wanted it immediately and at any cost. Her rich father enabled her, similarly the way credit cards do too for many of us today.
As I read personal finance blogs and books over the last several years I have learned there are no secrets, magic bullets to cleaning up your finances, its all about self-discipline and sacrifice. If you want an Oompa Loompa, save your money and once you have the cash the little man can be yours.* Don’t put him on the plastic and pay for him over the next 20 years. It’s a very straightforward, easy concept to understand a more difficult one to practice. Live within your means, start today, cut up the credit cards and never look back. It won’t be easy. It will be like the first week of a diet. Then being invited to a birthday party with a big chocolate cake. It will, however, be rewarding just like losing those first 10 pounds.
- Gordon Gekko – Investments
- C. Montgomery Burns – Energy
- Bruce Wayne aka Batman – Inheritance, Wayne Industries
- Oliver “Daddy” Warbucks – Defense Industries
- Richie Rich –Inheritance, Conglomerates
- Tony Stark aka Iron Man – Inheritance, Defense
- Jabba the Hutt – Crime, Extortion
- Scrooge McDuck – Mining, Treasure Hunting
- Carlisle Cullen – Compound interest, Investments
- Jed Clampett – Oil & Gas
I’m pretty sure I don’t have any large inheritance or defense contracts pending. I do not have any experience in the extortion, mining, treasure hunting, energy, oil, and gas fields. I will try my hand at investing once all of the remaining debt is cleaned up.
How do you manage credit cards? Do you use them to live beyond your means, for the perks, or rewards?
*I don’t condone the purchasing of Oompa Loompas and no Oompa Loompas were harmed during the writing of this post.