Put it on My Tab...
But I ain't even gon act holier than thou
Cause fuck it, I went to Jacob with 25 thou
Before I had a house and I'd do it again
Cause I wanna be on 106 and Park pushing a Benz
I wanna act ballerific like it's all terrific
I got a couple past due bills, I won't get specific
I got a problem with spending before I get it
We all self conscious I'm just the first to admit it
-Kanye West "All Falls Down"
Ok, so lets start today with a poll. How many of us have credit card debt in the thousands and have no earthly idea what in the hell we bought over the years that cost so much? Me! *I am raising my hand.* Why in the world do we insist on going into debt, voluntarily? Black folks especially have a problem with spending (And maybe you do too Kelisha..because you have "colored tendencies"). We are obsessed with the bling. Obsessed with keeping up with the Jonses (yes, Peggy and Phil)!
When I was in high school, I worked at FootLocker for three years. I could always tell when it was the first of the month, because business would double. It would be young black mothers and fathers in there spending up there checks to get their four month old a pair of $60 Jordans to match the ones they had just paid $170 for. When I became a mother and noticed how fast children grew out of clothes, I just could not justify spending a lot on a child's shoes or clothing. Now, don't get me wrong, my children still dress cute, but Target's clothes are just as cute Baby Gap.
We will spend spend spend to maintain an image we can't really support. Why? Most of us want will take our money and buy luxury cars or big ass houses, but won't invest a dollar in our children's education or in our own futures. We will ride around in the hottest cars, rocking the hottest clothes, wearing the flyest jewelry, and go into an apartment, with no lights and no food in the refrigerator. We throw away money for years renting homes instead of taking the time to buy a home. Houses are investments. They help on your taxes. Its ok to get house and not have any furniture, you will make a return on the house...not what's in it.
Its a damn shame that Colortyme and other rent-to-own places are mostly located in our neighborhoods. They make a killing on paying discount rates on items and renting them to us for four times what they paid plus interest. You can rent to own rims now...rims! Rent to own engagement rings, don't start your wedding out in debt. Have you also noticed where are the "Check-n-Go"s are? Uh huh, beside Aaron Rents...
Its not really our fault. Most of us a second and third generation wasters. I have learned the hard way, but nevertheless I have learned. Here is a secret, any of us can afford anything we want if we save. I refuse to run my debt up, for something I don't need immediately, you know food, water, or shelter... Clothes, cars, liquor, jewelry. We will pary every weekend, and wake up in our mama's basement and let her cook us some breakfast. Selling ourselves short for an image. Have you seen how Bill Gates dresses? lol..he is the richest man in the world.
So weigh in...what do you think? To buy or not to buy..on credit that is. Are you guilt of this? I know I am! What advice do you have?