James met this new girl, fell in love with her, and they went on a pre-honeymoon trip, because they were thinking of getting married, so they decided before they get married, why not take a trip? The trip resulted in separation within 30 days after the trip.

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The reason was simple. James did not know how to manage his finances. As James did not have any money, he was a fresh graduate from UCF, very brilliant, both parents were supporting him while he was studying, and now, parents also did not have any money, plus he had finished his studies, so he had to stand on his own 2 feet and learn how to live. He did find a decent job. But as he did not know how to manage his finances, it put him behind many years as he lost his credit and could not borrow anymore. He had so much of old debt which he had taken while going to school, plus new debt of credit card payments finished his beautiful career because he kept on getting deeper in debt and eventually declared bankruptcy which means he had to work, work, work, and he could not make his money work for him for the next few years. Credit cards ruined his life. Credit cards should be only for the people who have money and who have the capacity to pay. A person who is making $40,000 gross and $32,000 net should be only allowed to borrow 5% of that, which is $1,600. There should be only one credit card and not 10 credit companies offering $5,000 to $10,000 each to a fresh high school graduate who hardly has any capacity to earn and forget about saving. Credit card companies make it easy to borrow.

Jon 19 years old got out of high school and had started working on odd jobs. He belonged to a good educated family, but unfortunately he got into bad company at his school and started failing in his high school. So as soon as he got out of high school he started working because he did not have good grades and had no intention or willingness to go for further studies. He is 26 years now and during the last 5 years, he had a steady job in the furniture warehouse. He makes close to $10 an hour and brings home close to $310 net pay.

He does not want to work more than 35 hours. He has bunch of friends who are drop out from high schools and have the same habits As he does not want to take any etc. responsibilities and does not want to move to the next level at his place of work. He was offered job of sales person but did not take it as it involved working on Sundays and doing overtime, He could have made double the money by working little bit harder and smarter and could have really progressed. His friend Ronny took it who had joined the company two years latter and is now Jon’s boss. Every Sunday Jon likes to go for fishing and getting drunk.

He is sharing his apartment with his friend. He has been continuously changing apartments as they don’t pay rent and landlord sues them and throws them out. He has been sued may be four times in the court house. After when he is thrown out of his house on the street and has no place to go sometimes he ends up with his parents who are old and have hardly any room for themselves to live in their tiny apartment. Omes a burden on them instead of any help to them. They don’t like his coming back to stay with them as he Joan then sleeps on their sofa in the living room, smokes and brings a pack of cigarette and makes his parents life miserable. As he cannot bring his friends to his parents so as he can find another friend or landlord who lets him move in by paying one week rent he moves out again. He can easily pay his rent if he can plan his expenses, but unfortunately bear and party comes first before the rent. Lot of time electricity gets disconnected and he has to wait for few days up to his next pay claque and savings to pay those bills. He has a steady income but he does not know how to budget and has habits of spending money more then what he makes. He does not have any credit cards so there is no credit. He has no plan of improving his skills or getting better education. He lives day to day. His brother who is an attorney had given him an old car will also need replacement but Jon who is now 25 has not saved any money and once that car if it will need major repair will not be able to fix it. His brother has refused to lend him any more money, because when he borrows he promises to pay him back but he never does so his brother thinks Jon is very irresponsible and will never be able to stand on his feet.

Robert, 25 had a GED diploma. His father was a handyman. Robert used to work with his dad since he was 15, and has been a floor installer for the last 5 years. He is very good at what he does. He has a truck and a car.

Juan: is an electrician, makes $25 an hour, but only works when he feels like it. He is very good at his work but he keeps changing jobs every few months. He goes on fishing trips every month for 5 to 10 days at a time.

Frank and Ronny, both 25 are twin brothers. They both moved from New York when their dad died in a car accident at the age of 22. They rented an apartment. They both work like a team and build kitchen cabinets. They make close to $450 each. They are living in a nice apartment building and love their pool. They pay close to $1,500 a month on rent.

David, 26, is a computer programmer. Just got out of UCF a few months ago. He makes $45K a year. He loves to drive a new car and also has a beautiful motor bike. He just got married. His wife is an executive with a major advertising company. He spent a lot of money on the wedding and is now loaded with debt.

By Ashok of http://becomerichinfiveyears.blogspot.com



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