I'm a lot of things but I'm not a money-oriented person. Don't get me wrong, I like me some Kate Spade bags but I don't own any. Not a one. I think I paid a hundred for a Liz Claiborne about ten years ago. It fit under an airline seat AND could hold a fat paperback while I traveled. In other words, it was the only bag that met my rather stingy requirements, but paying a hundred bucks for a stupid handbag almost gave me heart palpitations. I still have that purse. I just don't use it anymore. I stopped traveling at the end of the nineties and stopped wanting to carry something that resembled a doctor's bag. My current handbag? A hobo sack that fits neatly over the front of me so I can be hands-free all the time. It makes me look like a homeless circus freak but it only set me back $40 AND it was handmade by a local artisan. I've had it for seven years.
I watched with envy as my friends sported designer duds, sparkly doo-dads and wizard-like gadgetry. Why don't you hop on the bandwagon? My friends asked me as they proudly snapped blurred pics of us with their latest cell phones and let us exclaim in excitement as we paged through their expensive new iPod playlists displayed on the tiny, glowing LCD. They'd whip out their brand-new digital cameras and take multiple gigabytes' worth of candids so we could fawn over ourselves later on. Immediate gratification beautifully paired up with narcissism is what the digital camera is all about. Let's take pictures of ourselves and then look at them!
No, I'd wave them off. I can't.
Oh, but it's just a few...
Nope. Sorry. I can't, I'd say with regret tinting my voice blue.
Computers. Cell phones. Camcorders. Cameras. MP3 players. Macy's. Bloomingdale's. Parisienne. I refused them all just so I could kiss my debt goodbye. And in a few short months, I will be finished paying the last loan shark (and I say that with all due respect) by cashing out all of my IRA and 401k.
*GASP*
Yes. Yes, I am. I'm going to make one, giant payment to my credit card company hereby closing my last and final credit card account. With that last balloon payment, I will be free. For the first time in 17 years, I will be free from the boat anchor I've reluctantly attached to myself. Free from monthly installments. Free from interest rates sucking me dry. Free from those sleepless nights of worrying about where the money will come to pay the creditor when the utility company will shut off our heat if we don't pay them hundreds of dollars by the end of the week and it's already Wednesday...
Once that money is gone, it's gone, one banker lamented to me.
Yes. I get that, I answered. I watched The Lorax. I understand what "finite supply" means. I also know that while my funds are basically bleeding out, my debt remains the same. The debt isn't evaporating along with my savings or running a parallel downward spiral with our current home values. I've lived in squallor to pay my debts. Habitually, I've paid more than my minimum balance to get out from under their interest rates that always increase even when they promise they won't (it's only for a limited time and after that, it's anything goes), hidden fees (but you wanted the money and we gave it to you -- you couldn't possibly believe we'd not charge you for it) and tricky gimmicks (if your money isn't here by noon on your due date, we can hike up your interest rate so that Jimmy the Loan Shark's conditions are gonna seem reasonable). No promises have been anything but their bread-and-butter moneymakers. They're like casinos only worse. The house always wins. Even if you think you've won, you've lost.
So your mind's made up, the banker shook her head with real angst.
Yes, I nodded. My mind's made up. You of all people should understand. Your bank moves my charges around so that you can exact the most penalties from me. See here? I've taken a screen grab from the last two days. You've moved around my charges so that I've depleted my account more quickly...and therefore, bounced more checks. If you look at yesterday's pending checks compared with today's, you'll notice that they're in a different order. It's so you can charge me three times the penalties. $105 versus $35.
But that's what you agreed to when you signed onto an account with our bank.
Yes, but I also assumed, wrongly, that you'd take things in order. First come, first served. Sort of like the lines for the tellers.
We reserve the right to...
Yes. I understand the conditions completely. If I had more money, I wouldn't be in this predicament in the first place. If I managed my money better and stopped living paycheck to paycheck, I might actually come out ahead. Until that time, I'm at the mercy of banks and their policies specifically designed to screw the poor.
She smiled a thin skimming of her lips that never reached her eyes or gave her any warmth at all. There's just one last thing, she said.
Yes?
Most people in your particular situation -- not all, mind you -- will return to this very same condition in no time at all and then the money's gone. There aren't any further reserves.
I got up and returned her chilly smile. For the record, I told her with a steady stare, I started out just seven years ago with unsecured debt amounting to more than my yearly income. I've whittled that down significantly. Over the years, I've learned to do without very nicely. I don't think I'll be one of your repeat offenders. Thank you for your time.
Reader Mail: Unearned Dog-Tags
5 hours ago
