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Money, money, money can mean trouble, trouble, trouble
Theresa Seraphim g
Spotlight
This past week, money has been a major factor in two of the biggest stories in this geographical area.
The arrest of financial advisor Earl Jones, who is accused of bilking investors out of millions of dollars, is perhaps more national in scope, but anyone can identify with the accompanying anger of investors who are now broke. In the current economic slowdown, any loss can be made even more significant, and to hear of people losing life savings is truly heart-rending.
Much closer to home, the recent tragedy in Smith also involved money, according to Terry Eliuk. He told The Journal that Ian Paget, accused of killing his (Paget’s) wife, daughter and granddaughter, felt financial pressure because he was $500,000 in debt and in danger of soon losing his land.
These incidents show how important money is. How else could we have shelter, food, clothes and other necessities?
But has it become too important? It seems we have gone beyond regular needs and have bought everything we wanted, no matter the cost. Then the credit card bill comes and causes panic.
Why does money have such a hold on us? It seems to send out its siren song, urging us to come closer and closer to it. It wraps its arms around us and before we know it, its embrace is like a drug – and it’s tough to get free.
Maybe we should return to the barter system of days long gone. That would allow each person to share their talents (I’m a math whiz so I’ll balance your books for you; you’re a good cook, so give me a fine dinner in return), and might make money itself less alluring.
Meanwhile, here are some tips from Reader’s Digest (www.readersdigest.ca/mag/2002/08/debt.html) to help those trying to burrow their way out of debt:
1. Pay off high-interest debt.
2. Downsize.
3. Pinch pennies.
4. Get into a groove – Foster predictability by prorating bills, for example.
5. Prepare for emergencies.
6. Save now, buy later.
7. Contact your creditors.
8. Call the collection agency’s bluff.
9. Get some free advice. Non-profit credit counselling services, available in eight provinces, can help people straighten out their debts.
These tips show that the biggest advantage of the current economic malaise is that people are now looking at their spending habits and cutting back where possible. In the process, they are discovering that – wonder of wonders! – it is possible to live with less, and life is much, much more than possessions, or how many dollars a person has in the bank.
We have all heard of people who were raised poor, but were still happy, and we wonder how that can be. It’s simple, really, because as sappy as it sounds, true riches lie in relationships, in talents, in love. These are all intangibles, but these are also all life’s strongest assets – because they provide hope.
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