Too fickle for debt.

Ten years ago, I was finishing my senior year of college. I had been accepted to law school and had big dreams of becoming a powerful lawyer and consultant. I’d drive a BMW, wear red-soled high heels, jet-set, and god-forbid I’d marry and have kids.

Ten years later, I have zero desire to practice law. Looking at high heels makes my feet swell and my back ache. I’d love a hybrid Toyota Highlander to tote my kids around in, and what even is jet-setting?

A lot of those early dreams were financed puffery. I borrowed over $60,000 to go to law school, I put plenty of trips on credit cards, as well as clothes, and while I never did finance a BMW, I certainly went through the motions. The problem is that I changed my mind on all of it and over the years, and I had to pay for all of those decisions, long after I made different decisions. What I know now is that will continue to be the pattern – I will continually change my mind. Today’s dreams may very well be different than tomorrow’s.

Paying for the obsolete dreams of yesterday stinks. Yet, it’s where most of us are. We want something today, and instead of waiting until we can afford it, we finance it to pay later. Then, tomorrow, when we want something different, we buy it, too, still paying for the thing we bought the day before. As this pattern continues, we eventually become completely trapped and even things we need no longer become accessible.

We are simply too fickle to be making decisions with borrowed money. The sooner we realize our nature and accept it, the sooner we can begin making better choices. When I say fickle, I don’t mean it in a bad way – just that it’s human nature to change – and change is good. But, if our past choices prevent change, we haven’t done ourselves any favors.

Here’s what I know: If I want something and I don’t have the money to purchase it, by the time I save up enough money to pay for it, I generally don’t want it. How about that?! Knowing how hard it is to work, earn, and save up money almost always brings me back to my real goals, not the purchases that bring momentary joy.

So, next time you want something, if you have not specifically saved up for it, don’t buy it. Set aside the money for it over time, from your budget, and when you have enough money for it, go ahead and buy it, if you still want it.