Saturday, 18 July 2015

Living Within Our Means

I had a weird thing happened to me the other day. As I've talked about before, I work at the Credit Union here in town and with a job like that there are certain perks. One of those perks is a better interest rates on loans. For curiosities sake, I asked the loans manager what the interest rate was and explained the situation with our current LOC. I let him know how much was owing and by the Fall we would have it paid off - so that if we did get a loan thru my work I needed it to be open/flexible and not fixed with penalties for paying it early.

He kept repeating the amount and our plan to pay it off by Fall, and I kept confirming that yes, that was our plan and what we are on track to do. Then he said something I have never been asked: "Well, what do you live on?" There was kind of this awkward silence and then I said "We live within our means". That was followed by a blank stare.

I don't know why I was so taken aback by this question. I may be looking way to far into it but his tone was so judgmental, I felt embarrassed and sorry for bringing any of this up. And that is crazy! Why should I feel embarrassed for making our debt a priority? I understand it's not the norm in todays society but why make those that do feel bad about it?

G and I make good incomes but we live a lifestyle that is very balanced and actually well below our means. We weren't always there but have definitely smartened up over that last two years. So why not get rid of the car loan if we can pay it off early? Why not start thinking about paying off our mortgage when we are still only 24 & 25? That's something I shouldn't be embarrassed about.

For the record though, I don't share our financial snap shot to people or rub our situation in their faces because I know not everyone is going to be in the same circumstances. Only when I am ask specific question by close friends or family would I share the information I feel comfortable sharing. Or if you are reading my blog, lol; but my blog is anonymous so I feel more confident with sharing actual numbers and plans. What else did you expect from a financial blog though? :P

Have any of you been in an awkward situation such as mine? How did you handle it?

- M


  1. Sorry but I think his reaction was very weird. He should be used to seeing all sorts of lifestyles and he made you feel judged which is not appropriate for his position.

    Because we are personal finance bloggers it seems like some are always in debt. But in real life, its not really like that. My best friend and her husband are debt free and buy a new car every year. My brother and his wife are debt free and have new pick-ups, snowmobiles, new boat, camper and 4-wheelers. He said they haven't borrowed anything for years. I know a lot of people who live within their means and not on a line of credit. I should write a blog post about this topic. :)

    1. Okay, I'm glad I'm not overthinking what he said. It really bugged me all week... I don't know if he would do that with a regular member in his office. I'm guessing he felt more comfortable since I work with him but still. Now I'm just making excuses for him, lol.

      I would love to hear more on the topic from you! :) I definitely think there is a lot more that could be said and you have surrounded yourself with very positive people/role models.