Didn’t own much; didn’t owe much. Read it again. Those six words explain the lifestyle of many families from just a few generations ago.
My mother was born in 1935, in the midst of the Great Depression. Most of us can’t imagine the doom and demise of that time. Those who lived it learned to get by on little of nothing.
My grandparents lived humble lives. They didn’t drive expensive cars or wear fancy clothes. In fact, to my knowledge, they never owned a home. I don’t know how much the Great Depression impacted them, because they certainly never talked about it. They just made do, and they didn’t buy things they didn’t absolutely need. They certainly were not alone.
Today, many who are also clearly struggling financially still seem to find ways to buy flat screen TVs, purchase smart phone plans, have their nails done, and get their seventh tattoo. Some who do borrow money play the victim card in hopes that it will be forgiven. Most of our grandparents and great-grandparents would cringe at even the discussion of the handouts now ranging from the forgiveness of PPP loans to erasing of college debt.
My mother never had a credit card. She thought they were a tool of the devil, as she saw too many people get buried financially by choosing not to live within their financial means. When I was in college, I received an application in the mail for a credit card from a gas station. It seemed like a good idea to me, so I applied and received it. I paid it off each month, but I never wanted Mom to know about it. Of course, she did. And, of course, she did not approve. The only debt my mother ever had was her home mortgage. She didn’t buy things unless she could pay cash for them. There was no other option, in her mind.
A few decades later, while at an out-of-town family wedding, Mom realized that a credit card had become a necessity for purchases like hotel rooms. So, she talked with me about it, and I encouraged her to apply for one. To my dismay, she was denied because she did not have any credit history. This woman with no debt, who had never written a bad check in her life, was denied a credit card. I had to co-sign the application for my mother to be approved, which I did. I understand that the credit card companies don’t profit as much from those who pay their debts each month, but this still says something about the society we now live in.
As such, a better mantra for today may be: Don’t own much; do owe a lot.
Have a thoughtful Tuesday, and thanks for reading.
Shane Goodman
President and Publisher
Big Green Umbrella Media
shane@dmcityview.com
515-953-4822, ext. 305
www.thedailyumbrella.com | 
