Change Your Think into a Thunk: Stop Giving Your Money to the Rich!

 We hear a lot these days about the rich and how horrible they are and how they get all the breaks. But today, I want to let you in on a little secret. Most Americans voluntarily give their money to the rich every day. “What???” You might say? “No way! People do not voluntarily give their money to the rich! People struggle! People suffer financially! They don’t choose to do this!” To this I say “Yeah way. Every. Single. Day. People line up and voluntarily give their money to the richest among us.”

“How can this be?” you might ask. First, let me tell you a little about myself. My husband and I got married very young, had a baby right away, had no college educations (still don’t-although I am working to change that) and were dirt poor. We did not rely on our parents to help us out and it was tough. Over thirty years later, after many bumps in the road (lost jobs, cancer etc.), we own a thriving business and are doing well. If we had listened to the people who claimed we were victims of circumstance, with no hope, we never could have gotten to where we are now. Through hard work, smarts, force of will and the blessings of God, we have what we have now.

It is true that you can’t control everything and sometimes things are beyond your control. But there are things you can control and that is what I want to talk about now. What you can control is this: Stop feeling like a victim and stop giving your money to the rich.

Step one: Stop throwing your money away on things that are not necessary. Let’s pretend that you don’t spend $5.00 (Starbucks) a day on coffee but just $1.00 a day. You might even think you are being frugal! That $1.00 cup of coffee you get from the convenience store every morning is unnecessary. ($30.00 a month! Brew your own at home!) That $5.00 lunch you get 6 times a month is unnecessary. ($30.00 a month! Pack it from home) Whatever and wherever you spend money on unnecessary things, figure it out and change your routine. Then comes step two.

Step two: So, let’s say you didn’t buy that coffee or that lunch this month. You just saved $60.00 a month! Now, let’s say you have a credit card balance. 

According to Money “On average, an American between the ages of 18 and 65 has $4,717 of credit card debt. According to CreditCards.com, the average credit card’s interest rate is 15%. At the minimum payment of $189, it’ll take 10 years and a month to pay off that $4,717. The total payments would amount to $22,869. That’s a $18,155 cost for a very small loan.” http://time.com/money/4213757/average-american-credit-card-debt/This is talking about the average American. That is a singular person, not a family. According to CNN, the average American family owes $8377 in credit card debt alone. So, if you as a single person, had a credit card debt of $4717 at 15% interest rate and paid the minimum every month, you would pay an extra $18,155 for the privilege of having that debt. This is how millions of Americans give money to the rich every single day. By choice! “But it’s not a choice!” you say! And I say “It is a choice when you continue to buy that $1.00 coffee every day instead of brewing your own. Instead, you could be paying off that debt ahead of schedule and it is very important that you do not charge anything else!”

Americans give money to the rich every day with interest on house payments, car payments, student loan payments, credit card debt etc. etc. Admittedly *some* of that is necessary. But Americans give money away like floats throw candy away at parades and then complain about the rich having all the money.

The way to get ahead is to change your think into a thunk. Instead of *thinking* the way most Americans do, say “I thunk that”. Past tense.

Americans are rich beyond measure. We are rich beyond many societies of the past and present. Our problem is less one of not having enough than managing it well. Yes, there are some who truly struggle. I know. I did too. But giving your money to the rich is not a way to win this game. Once you tighten your belt and learn to stop giving your money away and get your debt paid down, you will see how fast it can grow. Then….

Step three: Once you stop giving your money away to the rich, you can invest your expendable income and your money can grow!

I hope with the new tax bill breaks coming up that people will not give their extra money to the rich and instead invest it into themselves. I hope instead of taking that extra vacation, buying those extra clothes, buying that TV etc. that Americans will instead to choose to get rid of debt and make wise choices for themselves.

Change your think into a thunk and stop giving to the rich!

Happy Savings!