But my blog has always been about how to improve with a few simple steps, and this graphic is no different. I’m excited about this one – it’s useful in looking at the average American guy, and it gives sound advice for improving your finances and getting active. Enjoy!

What those notices often fail to point out, except in the 4-point italicized font at the bottom of the back of the postcard, is that during the 90 days of no payments they are still accruing interest on your balance. You still owe a debt, and it gets more expensive every day.

This is like telling an overweight person, “Wait 90 days to start that diet, and just eat whatever you want to until then.” At some point, the dieter and the borrower, have to face their battle and start working things off. The problem is, in three months, they now have a bigger problem.

Most of these types of “creative financing” arrangements are offered to consumers who refuse to face one single reality – they can’t afford to buy whatever is being offered. That’s it; you can’t afford it. If you don’t have the cash to pay for something outright, or when the bill comes due at the end of the month, you simply cannot afford to buy it.

Alternatives to “No Payment for 90 Days” Offers

Save Money. Open a savings account if you don’t already have one and get started saving towards the item you would like to purchase. In 90 days, you will either have enough money saved, or decide the item isn’t worth three months of your savings.

Be Content. Let’s face it, most “No Payment for 90 Days” offers are made on things we can probably live without – new cars, new furniture, new jewelry, big screen televisions, etc. My grocery store doesn’t offer 90 days same as cash on meats and produce. The gas station will not let me start an interest-free tab. So, chances are, whatever it is you are thinking of buying can probably wait.

You can keep sitting on your old sofa (or buy a yard sale sofa, like we did).

You can live with your current television, and if dies, can live without one – lots of people do it.

If your car dies, buy a cheap one and save up the money to buy a more expensive one with cash down the road.

Of course, it is much easier to walk into a showroom and pick out something brand new with a big price tag and a financing agreement to go with it. But remember, by delaying the inevitable bill all you are doing is tying up future earnings in debt payments.

Who knows what your life might be like 90 days from now? Could you survive getting laid off? What if you get sick, or a loved one falls ill? What if your car dies the week after your big screen television arrives. Trust me; these things happen.

I’m not advocating you sit around and consider the worst case scenario, but I am advocating a practical approach to managing your finances and acquiring new stuff. If the aforementioned things do happen, you’ll be better off minus a bunch of debt payments on things you don’t own.

Pride of Ownership Goes Up When You Actually Own It

Here lately, I’ve taken a hard look at the things I own. Do they bring me joy? Do they add quality to my life? I find that the things that were acquired with my own money, not with debt or a gimmicky financing arrangement, often bring me the greatest joy. Why? Because I don’t resent them, like I used to resent a financed Silverado, and a bedroom suite purchased on a credit card.

When I make the conscious decision to part ways with my money in exchange for some item, I want to own it as soon as I leave the store. This way I can enjoy it for its intended purpose without worrying over how much it cost, or how I will afford the monthly payments.

When it somes to stuff, own it or get rid of it. That’s my only two options from here on out.

Back when we were really floundering, my wife and I were friends with several couples who made much more money than us. They lived in huge houses in the best neighborhood in town, drove nice cars, and took luxurious vacations. We had little in common, except for the church group the moms were members of – MOPS (Mothers of Preschoolers).

My wife and I often confided to each other that we always felt a little out of place at Christmas parties and other social events hosted by these wealthy couples. My “out of touch” feelings began to fester, and soon I was downright jealous. Why couldn’t I land a great job and earn as much money as them? Why couldn’t we afford a bigger house, and a nicer car?

Fortunately, as part of my financial turnaround, I finally came to terms with what I was feeling. Turns out I wasn’t so much jealous of the “Joneses” as I was unhappy with my own situation. My resentment for others’ success was born from my own lack of success, and I ultimately only had myself to blame.

There was another angle to this I had not considered before this time of reflection. What if those couples were up to their eyeballs in debt? They probably had a huge mortgage payment, two car payments and credit card debt higher than my annual income. After all, outward appearances can be deceiving. Is that really what I was after? Or would I be more content with a modest home, paid-for cars, and the freedom that comes from not carrying any debt. The choice was obvious.

It was at this point that I went through sort of an early mid-life crisis. Up to that point I had been fast-tracking the career ladder, having started literally on the bottom rung and made my way to middle management. Of course, the promotions often meant more headaches, more travel and not much more money. I came to a point in my life where I would gladly give up the late nights, Saturday mornings and two week cross-country trips for more time with my wife and kids.

Sure, we would probably not make as much money as those “rich” friends of ours, but we would be wealthy in other ways. So in March of 2004 we relocated, left the financial industry and found more meaningful work. Now, I make significantly more in a year than I did in those days, thanks to my new career and my side hustles. Aside from a few nice things we enjoy, we still live a modest lifestyle by most standards.

I find it much easier to be happier for others now, if they are truly happy. If I discover they are unhappy with their inflated lifestyles, and are merely working for the trappings of the rich and famous, then I feel a little sorry for them. I hope over time they will break free from the grips of materialism so that they can discover what is really meaningful to them. Maybe it is more time with their family, or more time to volunteer to a cause they believe in, or maybe just more time out on a boat fishing. Whatever it is, I hope they find it so I can truly be happy for them.

Disclaimer: The information below is for entertainment purposes only and should not be used to treat a real health problem or psychological condition. Duh!

What is Financial Inferiority Complex?

FIC is a range of symptoms involving the central common sense system, traveling from the security gland to the heart. Fortunately, the brain is unaffected as those with FIC are typically not using it. If left untreated FIC can cause serious damage to one’s pride and sense of self-worth. Fortunately, there are a host of home remedies for FIC, which if utilized properly, can head off the need more invasive procedures later in life.

What are the symptoms of Financial Inferiority Complex?

Identifying the symptoms of FIC can be difficult, especially through self examination of one’s own habits. Often the affliction is detected by a friend or loved one honest enough to tell you the truth about your behavior. If you know anyone with the following symptoms, or recognize them in yourself, please read on to determine treatment options.

Symptoms include, but are not limited to:

• Hostility towards “rich” friends and associates
• Insatiable appetite for stuff
• Feelings of shame over debt
• Car fever, especially when accompanied by visits to new car lots
• Feelings of anxiety when credit cards are being swiped

Treatment Options

Financial Inferiority Complex presents in various forms, and the best course of treatment often depends on how long the patient has had symptoms, and the severity of those symptoms. For some, prescribing a budget and icing down their credit cards may be enough. For sicker patients, a complete credit card plasectomy may be required, which involves taking scissors to all credit cards in their wallet. This is a risky procedure as the closing of credit cards after surgery may lead to low FICO scores, or in extreme cases no FICO score at all.

The best way to prevent Financial Inferiority Complex is to subscribe to Frugal Dad. The daily dose of financial common sense helps patients cope with the barrage of temptation that surrounds them. But you should not rely on Frugal Dad alone. It is ultimately up to you to be content with your life and your posessions.  Judge your success not on the accumulation of material things, but on the accumulation of relationships built with loved ones. On the impact you have in other people’s lives. Ultimately, that is the only known vaccine guaranteed to prevent Financial Inferiority Complex.

I was no different growing up. I dreamed of becoming a football player, or a doctor, or a successful businessman. Those were big dreams, but dreams that kept me on track, academically, throughout high school. After a back injury my senior year of high school derailed any hopes of playing football, I turned my attention to my studies and finished on a high note, intending to enter college the next year and declare pre-medicine as a major.

Photo courtesy of TimWilson

Somewhere along the way I burned out on the whole process. I grew tired of college, the idea of being a doctor, and I was really floundering. After a death in the family, I returned home and lived with my grandfather while working a string of part time jobs, because I couldn’t find a full-time one.

Not long after marrying my college sweetheart I found a full time job as a customer service representative at a bankcard call center. The starting salary was $18,000, but I could earn 10% more by taking the graveyard shift, so I did. Looking back, we felt rich! My wife and I worked opposite schedules for a few months, until the stress at her job, and being seven months pregnant, brought her home.

I bounced around the bank from the call center to back office operations, credit, fraud investigations, disputes, etc, eventually landing in software development, which was the focus of my studies after returning to school after the birth of my daughter. Again, I thought I was on the fast track up the corporate ladder. I ultimately landed a better job after finishing my online business degree, but again, somewhere along the way I had a change of heart.

Reflecting back, I don’t remember a specific event that changed my perspective, rather a combination of events that changed my priorities. I had spent a decade living above my means, acquiring things, and racking up debt to finish school. The events of September 11th drew me closer to my then 1 year-old baby. The thought of traveling away from her, and my wife, terrified me, and the first time I flew after 9/11 (only a few months after) I remember feeling a panic that I had never felt before. I was lucky my new job would not require travel, because it was something I endured prior to 9/11, and downright dreaded after (not necessarily out of fear, but because of the new restrictions and the increased hassle that came with traveling).

Then my family was dealt a double-whammy as the economy started to turn late last summer. My mom was diagnosed with a giant cerebral aneurysm in early August at 53 years young. My mom raised me as a single parent, and had done well climbing the corporate ladder herself, despite lacking a college degree, and being the lone female manager in a male-dominated industry. She remains an inspiration to me. But the aneurysm, seven surgeries, a stroke, and a 102-day hospital stay from September to December wiped her out, financially, emotionally, and physically. She and my stepdad survived without an income as he cared for her for 6 months until long-term disability insurance kicked in.

A second scare came in February of this year when we almost lost my mom because of a new bleed in the aneurysm. She endured an 11-hour brain surgery, and despite even the doctor’s dire predictions, she survived. This time her hospital stay was 45 days. Today she is wheelchair-bound, unable to walk and use her right arm. Her vision and speech were affected, but she still has her wit, and we still love spending time with her.

Photo courtesy of ellievanhoutte

I share all this because it sort of explains how I got to here. It’s funny the things that shape our beliefs, and our dreams. Twelve months ago I viewed a 6-month emergency fund as a luxury; now I think it is a necessity. Same for disability insurance. Being debt free went from a nice-to-have goal to our number one priority.  Next we’ll work to pay off our house early.

I’ve become content with my current career, and my “side hustle” here at Frugal Dad. No longer do I long for a corner office and a six-figure salary. I long for a mortgage-free, modest home in the country with a garden, some room to roam, and the abiliy to spend some extra time with my kids, and one day, my grandkids.  I’d gladly trade in that office chair for a comfy rocking chair on our front porch overlooking our land. Flashy cars, big houses, expensive clothes and gadgets are all just obstacles in my way of achieving this goal.

The word “enough” is powerful. Ignoring the Webster’s definition for a moment, my own interpretation of the word in the language of frugal is that
“enough” is experienced when one reaches a sufficiency. Sure, we could have more, but we do not need more. We may want more, but we do not need more. We simply have enough.

Unfortunately, most of us don’t remember what enough feels like. When we were kids we needed to learn, and often be reminded of, what enough really meant. For example, my four year-old son could eat a three-pound bag of M&Ms if left entirely up to him. As he gets older he’ll learn that the over-indulgence in sugar and chocolate will likely leave him sick. He will reach a point of balance where he limits himself to a certain number of candies to satisfy his craving, but not so many that it makes him sick.

As we grow older our tolerance increases, our stomachs expand a little, and we can once again gorge ourselves beyond the state of enough. But now our childhood, sugar-induced nausea is replaced by things like credit card debt, a mortgage we can barely afford, a car that cost more than half our annual income, and 60-hour workweeks to pay for it all.

Imagine how much simpler our lives could be if we could go back to that point at eight years-old when we rolled down that bag of M&Ms after a couple handfuls. That point when we recognized enough and allowed our innate self-control to kick in.

I’ve tried to put these ideas into practice lately by reminding myself when I’ve had enough. From food, to material items, to money, reminding myself when I’ve reached enough has served me well. Here are a few examples.

I Have Enough

I earn enough money. Who wouldn’t like to earn a higher salary? Who wouldn’t like to earn as much as their boss? I know it sounds strange to hear someone say they earn enough, but I do. I’m not volunteering to stop earning more money, but I do recognize my basic needs and a few wants are met thanks to my adequate income.

My car is good enough. I currently drive a 19 year-old van. The radio doesn’t work, the heat and air rarely works, the gas mileage is terrible, and it has zero sex appeal. I don’t care – I love it! I have no car payment, my insurance and tag costs are negligible, and save the occasional repair it reliably gets me back and forth on my short commute to work. I could go out and finance a brand new truck, but my current vehicle is good enough.

I have had enough to eat. I’m a big guy. I’ve always been a big guy, and even in my younger days I had to stay active to make up for my love of good food. Now that I’m older, and more sedentary, those trips to the stove for seconds take more of a toll. Instead of toying with every diet under the sun (which I’ve tried to no avail at some point), I’m simply using the word enough to drive my eating habits. Mid-meal I stop to ask myself, “Have you had enough?” If I have, I stop eating.  Simple as that. Hopefully, the combination of my “enough diet” and increased activity will help me get back to fighting weight.

My house is big enough. The other day I sort of lamented about the configuration of our current home and its lack of office space. I found a frugal solution, and set up shop in our laundry/utility room. I’m also in the process of adding some gym equipment to our garage so I can get in a workout at home. Would I like a bigger house with a dedicated office, a bigger backyard, a playroom for my kids, and a workshop for myself? Sure, but my current house is big enough, and provides shelter for my family.

So the next time you find yourself crawling the mall for a new jacket, ask yourself if your current one is good enough. When you feel yourself coming down with car fever, avoid the new car lot and look at your current vehicle in a new light. Does it meet your needs? Is it paid for (or close to being paid for)? Do you remember what it is like to have a car payment? Do you really want to write that car payment check for the next 60 months? I don’t know about you, but like I said, I have had enough.