I make $6.50 an hour. Am I poor? by Karen Datko:
I am no longer proud.
Pride should not be tied to how much money you have. It is, often, but it shouldn’t be. If you act foolishly or you waste money or you act irresponsibly being ashamed is possibly reasonable. When you have extra money, you can waste some and not feel ashamed because you have some to waste. But when you are doing your best you should be proud no matter how much money you have. Buying more pairs of shoes, or fancy coffee or a new video game or the full cable TV package… is not what you should take pride in.
This article shows what can happen to your personal finances. I think it is wise to prepare for such eventualities by saving money and not taking on higher costs of living than are worthwhile. Spending some on luxuries is fine, but you should not just think of today. What will you do if you financial situation worsens? It is very possible, and while planning for it might not be fun, as adults we should do what is necessary even when it isn’t fun.
And a good one any time.
– I will not touch my 401(k) and other retirement accounts. I’m better able to fend for myself now than I will be when I’m in my 70s.
– I won’t sell my house. It’s cheaper than rent and provides more old-age security.
Good ideas. And good planning to have saved for them when it was possible – something she should be proud of.
The last line of the artilce”