The Debt Diet

I was watching the Oprah show yesterday - my favorite activity while cleaning the kitchen - and caught part 2 of a series called The Debt Diet. Ok, I know that our culture is diet crazy, what with Atkins, low carb, no fat, etc, but what is the Debt Diet? It's a diet to help people reduce not fat, but debt.

I was stunned to hear that 70% of Americans live from paycheck to paycheck. That staggering number must account for a lot of the working poor in our country I think - which in itself is disturbing. But wait! The 3 families on the show would certainly not be considered poor (unless you happen to be Oprah), and would in fact be considered rich by many of the working poor. So what is the problem?

It seems to be spending more (way more) than you earn. It's the belief that stuff will make you happy, fill your hole, make you whole. Now, I certainly understand the restorative power of a good shopping trip. The high alone is worth the price tag. But spending what I don't have? That is a little beyond me, since the high fades rather quickly, while the debt stays and grows. And remember that we are not talking about spending on necessities like food, shelter, warmth, etc. One family owed $2,300 on a humongous tv. If that's what they owed, what did it cost?!!

Corporations spend billions of $$ to make us feel inadequate, less than, not sexy enough. In the end it is up to us to take personal responsibility for our choices. Turn that TV off! I am so glad that Susan and I look at this issue in a similiar way - stuff is only stuff. Creating memories is always a better bet.

While I found the show fascinating - if only to see the choices some families make, I would have found it more interesting to hear the stories of the working poor, whose debt problems are not as easily fixed with a debt diet.