Some people have been doing it for a while. For others, they may have had to give more attention to every part of their financial lives. For some, it’s simply been a matter of which card to use. For the younger generation who says I want it now, there are some darker financial clouds on the horizon that are starting to give the youngers a bit of concern.
It’s been a while since most of us have seen the crazy jump in prices for everything. I’ve talked with friends who own restaurants who tell me they worry they may lose customers as they raise prices to try and stay in business. As customers we understand and empathize. We don’t want to see our old friends go out of business, but we may find ourselves not eating there as often. For most of us, it’s not big chunks being taken out of our behinds; it’s the constant nibbles and dribbles eating away at our shrinking nest eggs or piling on to mounting credit card debt. Interest rate increases stand ready in the wings to accelerate our financial demise as the FED prepares to raise rates.
Life has been pretty good for a lot of us up until lately. Paychecks are struggling to keep up with rising prices. Children and teenagers may not understand why you can’t go here or do that like we used to. Put it on the card if there’s room left and pray we don’t see a big jump in rates that make it hard to pay even the minimum.
A big bunch of us guys have tried hard not to bury ourselves in debt. Rising prices have almost made it impossible to save much. If you’ve been lucky enough to pay extra on your house, car, or credit card, count yourself blessed. Most of us know one disaster, one health problem could push our finances over the line. A lot of people look like they’re doing good. Truth is most of us are looking down for that rock so as not to stump our toe and fall.
Us old geezers with pretty set retirement are kinda holding our breath as prices rise faster than income. You look around to see what you might cut back on or what you might do without. Unfortunately, church offerings and donations to charities are likely targets. Choctaw may see a drop off in customers with less cash available; maybe it will see an increase in those trying to strike it rich and seemingly solve their money problems.
Looking around we and most of the rest of the world know this is a blessed place to live. It may be we’re gonna have to adjust our bifocals and look at things a little differently for a while.
By Dr. Juan Harrison
