Fantastic post, and dead on. Unfortunately, too many people still want another stimulus check or a personal bailout - not comprehending how it all works. Every time I mention it on my site, I get people screaming at me because they want a stimulus check. They have no idea that they will have to pay it back eventually, even if some of these corporations won't. You are so right - you have to be your own bailout, as $1000 in the mail is not really going to change anyone's financial health for longer than a few days. Advance planning is the only way to be "secure". Great post as usual.
Writer's Coin
· 1 year ago
I think a lot of this goes back to that poor person's mentality of "woe is me." It's easy to shirk responsibility and blame the big, bad corporations when stuff like this happens. I hear this kind of stuff too, and it drives me nuts.
Jeremy
· 1 year ago
Not only do I overhear stuff like this at work, but I work directly with people who whine to me about needing a bailout. The sad thing is, since I know about these people and their lives, I know that nothing has changed from six months, a year, or even two years ago, yet they act like suddenly things are tough.
They still have their job. They are still making the same fixed mortgage payment they have been making for years, and most don't have any additional debt to speak of. Yet somehow, since everyone else is talking about how bad it is, and how the media says things are so terrible, they get into this mindset that they are in bad shape as well. I can pull up their numbers and show them that aside from their investments being down, they have even more money coming in now than they did just a year ago. But their attitude is sour just because that's what everyone is talking about.
So, then I ask why they need a bailout, and the answers are usually something along the lines of, "well, so and so is getting one, or this company gets one, so I need one." It has nothing to do with their actual situation, but they feel they deserve one anyway. I guess that's only natural. I wish I had some free money coming my way too.
But like you said, for those that already have bad habits, throwing money at the problem won't do any good. It might pay an extra bill or delay something another month, but until you tackle the root of the problem, nothing will be changed. Just look at all the people who receive an inheritance or win the lottery or something, and you hear about them being bankrupt a few years later. Money doesn't fix everything.
Victor
· 1 year ago
Excellent post! Hopefully it will help people realize that they have to manage their time and money properly and there is no magic do-over button. Now if they really want to be bailed out of their mistakes, they just need to make it as a CEO or own a company the government will help bailout. Makes the hard work getting there worth it, right? =D
les@spillingbuckets
· 1 year ago
Well said. And love the picture.
CraigK
· 1 year ago
Agree, it's all up to the individual. One positive outlook to a struggling economy is the power to learn new skills. Because companies are cutting costs, they may be asking their employees to learn basic skills in other areas so they can help perform. This can be the tool for someone to bail themselves out. By learning new skills, you become more competitive in the market place. Whatever the goal is like you mentioned, job, money, weight loss, etc. It's all about becoming becoming educated in what you want and working hard to achieve it.
Given the photo, this post should have been titled I CAN HAZ BAILOUT?
Money Matters
· 1 year ago
I think we are living in a time where everyone wants to receive, but few want to be responsible for themselves and make their OWN bailout.
I have one popular post on my blog about stimulus checks - it has received over 200 comments - and most of them are all about "i need a bailout" or "the government owes me" or "these big bad companies are getting money, I should too!".
it seems that no one wants to become more responsible, set up a plan for their own future, and work hard to make things better. they want someone else to solve their problem for them.. Ugh.
JUngle
· 1 year ago
"Hard work and positivity" ? Oh right, because that's exactly the route all the bailout banks and car companies and mortgage companies -- and all their greedy sociopath CEO's -- took to arrive where we are today. And we musn't forget about the positively hard working government either! No scheming going on there either.
If success is measured in dollars, as it is in a capitalist society, then "truly successful people" (see above list) will indeed get a bailout -- paid for by YOUR hard work and positivity!
Steve
· 1 year ago
True, JUngle, the companies getting the bailouts didn't get the bailouts because they deserved it, or because they were such great corporate citizens. My point was just that you aren't going to get a bailout - at least under our current administration, the corporations are getting all the help and citizens are getting none. OUR only real hope is hard work and positivity, and hoping that the campaign promises of change weren't empty (but I'll believe it when I see it).
Dusty
· 1 year ago
What a novel concept - take responsibility for your own actions. I agree that this can, and does, apply to any situation that you can think of.
fathersez
· 1 year ago
I have a family member who is looking towards me for a bailout of some sort. Not a "if not done now, I'll go into the streets" kind of bailout, but something that would very much better his standard of living.
I think I'll forward this gem of an article to him.
Rob
· 10 months ago
Why should the tax payer that has debt to the banks that took taxpayer bailout money have to pay it back ? We borrowed from all these banks that got taxpayer bailout money wether it be credit cards, or other types of loans now the same banks are borrowing back from us the taxpayer.Maybe the banks can call a debt relief agentcy so we can get our money back.
w
· 7 months ago
If that's true then why did all these failed companies get bailouts..?????
All Comments
They still have their job. They are still making the same fixed mortgage payment they have been making for years, and most don't have any additional debt to speak of. Yet somehow, since everyone else is talking about how bad it is, and how the media says things are so terrible, they get into this mindset that they are in bad shape as well. I can pull up their numbers and show them that aside from their investments being down, they have even more money coming in now than they did just a year ago. But their attitude is sour just because that's what everyone is talking about.
So, then I ask why they need a bailout, and the answers are usually something along the lines of, "well, so and so is getting one, or this company gets one, so I need one." It has nothing to do with their actual situation, but they feel they deserve one anyway. I guess that's only natural. I wish I had some free money coming my way too.
But like you said, for those that already have bad habits, throwing money at the problem won't do any good. It might pay an extra bill or delay something another month, but until you tackle the root of the problem, nothing will be changed. Just look at all the people who receive an inheritance or win the lottery or something, and you hear about them being bankrupt a few years later. Money doesn't fix everything.
Craig
www.budgetpulse.com
I have one popular post on my blog about stimulus checks - it has received over 200 comments - and most of them are all about "i need a bailout" or "the government owes me" or "these big bad companies are getting money, I should too!".
it seems that no one wants to become more responsible, set up a plan for their own future, and work hard to make things better. they want someone else to solve their problem for them.. Ugh.
If success is measured in dollars, as it is in a capitalist society, then "truly successful people" (see above list) will indeed get a bailout -- paid for by YOUR hard work and positivity!
I think I'll forward this gem of an article to him.