Tuesday, December 02, 1997
Defenestration and
Cash
by Wendy B G
([email protected])
David Gardner recently discussed why we should like cash and hate debt. I totally agree with him. His key issue was return on your money. My key issue is security.
Many people, especially younger folks, have never had a serious setback. You can recognize these people by their smiley-face, nothing-can-happen-to-me confidence. However, life can spring sudden reverses -- coming up roses today, life-threatening tomorrow. My own life experience includes serious illness, destructive fire, and sudden unemployment. Readers, fill in your variations on the slings and arrows of outrageous fortune. God forbid I should experience them all!
The emotional impact of a setback is similar to defenestration (that charming but efficient east European form of execution, tossing someone out a window). Not a damn thing you can do about being tossed by fate.
You can, however, do something about the surface you land on! A nice, thick mattress of cash makes that landing so much easier to take. For example, when my apartment was destroyed by a nighttime electrical fire (I barely escaped, barefoot and in my nightgown), the insurance settlement took months to arrive. Without a cash cushion, refurnishing would have required costly credit or serious delays.
Add current security to your list of reasons to save. Debt is a trap, constructed to entice you to feed your financial security to corporations which profit by fostering addictive materialism. Before you buy something, ask: do I need this object more than I need security? If fate tosses me, wouldn't a little extra in that mattress help?
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