Student Loan Debt Overtakes Credit Card Debt

I’m thinking back to a post that I wrote in December of last year about the excuses people make regarding student loans.  Almost 11 months later and I am still just as puzzled today as I was back then as to why people continue to make excuses as to why they cannot pay back on their educational loans.  I think the biggest reasoning is that too many people want to be the victim when it comes to dealing with their student loans.  The victim, are you serious?

Recently there was an article that came out detailing how student loans have now taken over as the largest debt owed in our country as $830 billion goes to student loan debt with $825 billion being that of credit card debt.  A person has to wonder truly what the big deal is as our society has turned to one where it is important to get an education.  If we traveled back in time 40 years ago the ideology of going to college was a luxury as it was not uncommon to land a good job with just a high school education.

Flash forward to the times of today and in this economy it is crucial in having a degree to be able to land good employment.  I’ve been approached in the past by parents telling me how their children are over qualified to work at McDonald’s, or any other fast food restaurant.  I cannot believe that parents are so naïve that they would actually believe this.  Any time I have needed a second job I have been able to walk into a fast food establishment and land a job shortly after completing the application.  For these parents believing their kids that they (the kids) are overqualified is completely asinine.

The problem with our country is that nobody wants to step up to the plate and take ownership for their actions.  Not too long ago a college professor shot up her department heads during a meeting and defense attorneys were quick to call insanity.  This is yet another case where people are too afraid to admit their actions.  The beds we sleep in today are from what we made yesterday and the beds we’ll sleep in tomorrow are being made today. 

Even though student loans may be a larger debt in America than credit cards the difference is the advantages given by having the degree.  Failing to pay a student loan back is part of the instant-gratification attitude of those graduating today.  Amazing how no one wants to pay their bills compared to the days of our grandparents.  What will the future of this country look like as these people become the leaders of tomorrow?

Trying to increase my focus

I have been reading a book, The Noticer, as I have been on vacation this week and there was one sentence that has captured my attention.  These words went something like this, “…Whatever you focus upon, increases.” (p. 13).  This got me to thinking about how too often I know I focus on what I don’t have.  I don’t have enough money, I don’t have enough time, and I don’t have enough fill in the blank.

This all goes back to the thought process which I have mentioned before.  At this point in time I am starting to question whether the happiness that I am seeking is from the state-of-mind that I will be in.  Everything is actually kind of confusing as right now I seem to be suffering from brain overload in trying to decipher this or that.  Anyone with insight I look forward to your comments.

Listening to the inner-child within us

What do I want to do when I grow up?  This is a common question that we pose to children on a frequent basis.  The answers vary and if you were to ask my children what they wanted to be when they grow up the answers too would vary from being Dora the Explorer, a Princess, a Mermaid, to even being a mommy.  When the answers are given though the common phrase is based around the ideology that a kid can be whatever it is they want to be when they grow up.

How far is this from the truth?  The older I get the farther away from what I wanted to be when I was kid I become.  With age comes a sense of reality and that reality is that bills need to be paid, food needs to be on the table, and the American dream will always be just that…a dream.  What causes us to go from believing in our children to suddenly stifling out and killing their childhood dreams?

Now granted there are certain responsibilities that we take on as adults in trying to make it through the day-to-day grind.  Simply put more Americans are merely trying to survive than live out their dream of what they want to be when they grow up.  Instead of being a doctor kids take the easier road and become a business major.  Instead of being a nurse kids decide to be secretaries.  At some point in time we go from believing in the impossible to living for the path of least resistance.

My goal is stop that cycle within my own life.  I’m here to dig deep and find out what that dream was of what I wanted to be when I grew up.  Now granted I know what my responses were in the past but I now understand throwing a baseball 110 mph on a major league field is not feasible.  What I need to do is find out who I am, what my dreams are, and how I can amply apply my abilities to living out my dream.  It sounds simple.  I understand where I’m at right now and I know the end destination that I want but the hard part is going to be finding my way from point A to point B.  In discovering my inner ambitions I expect to find out more about who I truly am.  I expect to learn more about what motivates me, what excites me, what I am truly passionate about.  In doing all of this I expect to find the answer to the common question of what I want to do when I grow up.  When I get where I’m going I am positive there will be a “new” me living the life I have always wanted.  I’ll finally being living the life I dreamed about, finally living the life I was destined for.

Thinking out loud

I believe that I have a lot of great ideas but too often is the case that I do not allow my ideas, visions or dreams to come to fruit.  I believe this is the case with most people and I have to wonder what it is that allows for others to go from ordinary to extraordinary.  A person could contemplate this and contemplate this, toggle thought after thought through their mind and not come up with a conclusion.

To me though I think the answer is relatively simple in that too often we do not allow ourselves the personal time to enable our minds to dictate our future.  Too often we tend to think in a negative manner of how that job promotion will not occur, or I will not be able to accomplish this feat, or that feat, and the biggest factor is we tend to worry too much about things that are beyond our control.  I’ve heard the saying of, “90% of the things I worry about do not occur.”  How true this statement is in my life and I’m sure it is for you as well.

I’m here to make a difference in my life and it begins with this blog.  My idea or thought process behind this is to enable my thoughts to be written down.  I’m not talking about thoughts such as what’s for dinner, what time does the game come on.  No, I’m not talking about useless thoughts.  I am speaking about processes that we allow me the opportunity to go from ordinary to extraordinary in all facets of life.  Who knows maybe along the journey you have personal testimonies about yourself or someone that you know that can help get me over a hump, through the woods, to Victory I come.  I look forward to the ride and to the path traveled by few.  Sit back, relax, and let’s take this journey together.

My list of New Year’s Resolutions

I am finally designating my New Year’s resolutions for 2010 and prior to today I had not necessarily given the list as much thought as could be.  This is a combination of things that I want to see happen throughout the year Twenty Ten.

1. Be a better spouse in 2010 to my beautiful bride of 6 years.
2. Spend more quality time with my girls.
3. Pay off more debt in 2010.
4. Get in shape through exercise.
5. Lose weight- Goal weight is 163 pounds by the end of August (my 10 year High School Reunion will be Labor Day weekend)
6. Become more fluent in my Spanish speaking abilities solidifying my ability to read and write in Spanish.
7. Buy the bed mattresses my wife continuously talks about.
8. Be a better Boss for my employees.
9. Go fishing with my family.
10. Read my Bible and become a better student of the word.

Many of the things listed will require a change of lifestyle.  Substituting the drive-thru dollar menu for some good home cooked meals will be key to losing weight and getting back in shape.  I want to help out more with the daily housing duties with my wife.  She is an awesome woman and I want to show her through my actions.  Learning the Spanish can be beneficial and open up more opportunities in having the ability to speak both English and Spanish.  These are just a few of the ideas of the resolutions I would like to improve upon.  Hopefully I will be able to stay committed to this list and at year’s end know that I successfully accomplished these feats.

Taking Can’t Out of the Vocabulary

In surfing the Internet over the past couple of days I have been searching.  Searching for people who are in debt and instead of making excuses they are actually doing something about it.  I recently came across an individual who is unemployed, stated he owes more than $60,000 in student loans and cannot get on at McDonalds.  I find this hard to believe.  This person said he is waiting on a call back, waiting to hear from them, and I believe he is waiting and holding on to the same excuses.

Yes the job market is down.  Truthfully it sucks but there are jobs out there.  It is times like these that we are living in that people need to be thankful for having employment and making for damn sure they are doing whatever necessary to stand apart from the other employees.  I work in a production based non-factory atmosphere with a lucrative bonus structure for hitting numbers and exceeding budgets.  Before I was in management my motto as an employee was I was not there for the regular paycheck, I was there to make bonus checks.  This mentality helped me achieve more bonus money and paved the way for the company advancements I have earned.

With that said I have employees who openly admit to being satisfied with the regular paycheck and it’s not that great of money so it’s not like these people are receiving fat paychecks.  The drive and mentality of people are different with each individual spoken to and what motivates me is different than what will motivate you.  I grow increasingly tired of hearing people say they cannot do this or they cannot do that. 

Folks it is time to take the word “Can’t” out of the vocabulary banks.  If a person says they cannot doing something then they will never accomplish the feat unless by pure chance and coincidence.  Show me a person who uses phrases such as “I will”, “I can”, “I have” and I’ll show you someone who is more likely to be successful than the person who constantly gives up.

As for that $60,000 person in debt who cannot get a job even at McDonalds I have to call bull shit.  Jobs are out there it takes being proactive not reactive and sometimes we have to do jobs that are below us.  Until you have done everything in your power and exhausted all options do not say “I can’t get a job” be honest with yourself and everyone else and say the real reason, “I don’t want to work at XYZ place.”

Time for New Year’s Resolutions…again?

Well the end is nearing of 2009 and this means that 2010 is right around the corner. How was 2009 for you? Did you accomplish the goals you had established at the end of 2008? Were you left feeling disappointed with your results?

For me I’m pretty happy with the year as a whole being I was able to land two promotions within 5 months of each other. I do not measure this past year’s success purely on professional accomplishments. My family and I made significant strides in having quality time together and I look forward to continue that trend into the start of a new year.

Financially we made strides, as a family we made strides, as individuals we made strides. I have been taking my time contemplating what my goals for 2010 will be and if you would like to share them here feel free to post your goals, dreams and New Year’s resolutions here.

Internet Scams

There are too many people in this world that are out for an easy buck.  Some are the predators and some are the prey.  I do not believe there is an easy sure fire way to get rich quick as a person hears about on the radio and television.  I was recently contacted about my supposed interest in selling a product known as Reliv.  I say supposed interest because I do not ever remember completing any kind of form whatsoever but yet here the person named Vera O. had my contact information.  I ran with it to see what I could find out.  My wife had told me the experiences her mom and her co-workers had with the product and it was a positive experience so I definitely wanted to hear this person out.

So Ms. Vera was adamant about calling and she was precise when she said she was going to call she called.  I wasn’t necessarily buying into the entire “pyramid- but it’s not a pyramid” scheme so she enlisted the help of a Senior Rep. by the name of Pete V.  After the conversation with Mr. V the positive impression that I had of the product was quickly dwindling down.

Good ole Pete was trying to “close” hard on me and I guess his previous 20 years in the Insurance business taught him to try and manipulate the “customer” into buying into the system.  While I was on that phone call the price started out at $25 to join and by the end of the conversation I would need to buy supplies running the total to $600 to start up this “opportunity”.  I didn’t bite and he became more aggressive.

I agreed to attend a local seminar they were having on the product and truly I had every intention of attending unfortunately something came up at the last minute and I was unable to attend.  My email inbox began getting overflowed with answers to objections I had previously had.  I thought wow communication is great with these people.

Well I thought it was great until I sent the following email:

Vera,

I wanted to write you and let you know that I appreciate all of the information.  At this time I have decided to halt my forward progression with Reliv.  I appreciate you taking the time to give me every opportunity to learn about your company but again at this time I do not feel it would be a good fit as I cannot personally dedicate the necessary time required for Reliv to be successful in my life.  Thank you for all of your hard work.  It has greatly been appreciated.

Sincerely,

Mr. Slinkard

I guess I was a little offended in that I took the time to send an email that said thanks but no thanks rather than let the individual blow up my phone or flood my inbox with useless information.  I thought I was doing the right thing and it’s been 3 days since that email and no response.  Makes me wonder what would have happened if I would have joined?  Would they have courted me pretty hard to get me to sign and then be absent in the new process?  Was it a put on?  I believe it was and now I’m glad I didn’t join.

Excuses, Excuses, Excuses…

I came across this post screaming the injustices of people having to pay their student loans back and I couldn’t help but laugh out loud. Scratch that, I started laughing maniacally when I read these excuses. I couldn’t help but respond to these morons and give some simple common sense suggestions:

-“If I didn’t have to pay my student loan debt, I would spend money I don’t have now visiting my elderly parents more often. So I’d be spending the money with Southwest Airlines. Not even having a job I don’t know when I can see them again and they’re in their 80s. People don’t last forever and you never know when ‘never’ will come.”

You’re exactly right and if you didn’t have to pay for your mortgage/rent you wouldn’t have to worry about having a place to stay. Spending money with Southwest Airlines, eh? Seriously? More than likely the person would find a new “expenditure” other than flying to see their parents. We all say we’re going to do something but primarily fail to do so. Beg to differ? Need I say New Year’s Resolutions? Anyone? Anyone? My other piece of advice for this individual would be to suggest they move to a closer location to their parents. Being unemployed what’s holding them back? Meaning there is no job that is keeping them there.  If they’re married what about appealing to the spouse, I mean as the person said people don’t last forever and you never know when ‘never’ will come.

– “I’d spend at least $75.00 a month at Race Trac gas station so I could visit out of town friends. These are items I don’t get to purchase on account of owing so much to my lenders.”

They could spend $75 a month so this person could see out of town friends. Chances are they are connected to the World Wide Web and I would suggest video conferences, instant messages, or even email. Heck check out the applications on MySpace and Facebook and two friends or an entire group can enjoy a single martini and the cost is nothing. $75 per month, get over yourself.

– “I would shop at Target more often, for curtains and items I am really in need of but simply can no longer afford. Since the loan will take forever to repay, I will be curtailing spending for the [next] 20 years.”

My response to this person is that Target is not the only place to buy curtains and items that you “really” need. There are dollar stores, fabric stores, all over and worse case scenario if you cannot find what you’re looking for at a retail store do like in the olden days and make it yourself. Instant self gratification for you and you didn’t have to wait in line for it.

-” [It would nice to buy] action figures and baby dolls at Toys R Us.”

Yeah it would be but what about the days before Toys ‘R Us? I mean what did the pioneers before us do? Ah, then there’s Wal-Mart, Dollar Tree, etc. for toys that are cheaper. An even better idea would be to use something that money cannot buy and that is imagination. Amazingly it will go a long way.

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Speaking of imagination I have to laugh every time I hear these people get their panties in a wad. They’re complaining about paying back the debt but instead of making excuses how about be a problem solver? I mean do something with your life. If these people would spend more time focusing on how to pay back their debt compared to the time they spend complaining they would be debt free and would be able to fly Southwest, be able to visit out of town friends, be able to shop at Target and be able to buy from Toys ‘R Us. What’s next are they going to start going after these companies for their prices being too high?

Money Coach or Predatory Coaching?

The sad truth about the times we live in is that there are people out to make an easy dollar and do not care who stands in the way to stop them.  As I am writing this I have in mind a particular site that comes to mind that involves Lynnette Khalfani-Cox who is a proclaimed Money Coach.  I looked at her credentials and she has authored a few books and apparently has been featured in The New York Times, USA Today, Redbook, Essence, and on CNN, FOX Business, The Oprah Winfrey Show, Dr. Phil, The Tyra Banks Show, The Rachael Ray Show and on The 700 Club.

Not too shabby I would say but then I came across her web site that clearly states she is not a registered investment advisor and the information provided should be considered educational in nature, but it is not a substitute for legal or professional financial advice.  After reading this disclaimer at the bottom of the web site which primarily no viewer makes it to this peaked my curiosity.

I found her blog and read how she is having a teleseminar today and the cost is just $19.95 for 90 minutes for Ms. Khalfani-Cox to inform individuals how to handle creditors, get out of debt, deal with collectors, etc.  She is charging $19.95 per person for answers that can easily be found through simple search engine queries.  I couldn’t help myself but respond to her post with the following:

 I love how you have a disclaimer on your site stating The Money Coach is not a registered investment advisor and the information provided on this web site should be considered educational in nature, but it is not a substitute for legal or professional financial advice.

Yet you want people to sign up for a teleseminar for just $19.95. Are you kidding me? You make that disclaimer on the front of your .net web site and then you’re seriously asking people to pay money to hear information that is readily available on the Internet for… FREE!!! Wow!

Now I’m still waiting for her response but people use some common sense.  A lot of the information that these so-called “Money Coaches” use can be found through searches on Google, Yahoo!, MSN, etc.  Getting out of debt takes discipline, common sense and commitment.  Discipline to control your spending and pay your bills, common sense not to get ripped off by bad purchases or buying items you cannot afford and the commitment to follow through with getting out of debt.  There was no charge for that advice it was just simple “use your noggin” values.