While going through my intimidating backlog of notes, I came across another amusing piece. A longer article in the Daily Mail with the title, Why are so many smart women so bad with money?. There is some pretty incredulous stuff in there.
First, I’d like to berate the author for her unjustified premise. Why do you assume that someone who behaves in an absolutely stupid manner when it comes to money is actually smart? I’d say it’s evidence that they are not. Just look at this:
I am mired in debt: £200,000 worth, in fact. That doesn’t include my mortgage; it’s credit cards, loans and overdrafts.
It sounds like a staggering amount of money and it is. But the really shocking thing is how easy it was to accrue. And how difficult it is proving to get back on track.
LOL. So here we have a woman who has such poor impulse control that she just spend and spends. Central banks are printing money, so why can’t she have a little fun? We only live one, right?
That entire piece is cringe-worthy. Here’s some more:
They were not the stereotype of dim-witted debtors. They were often successful, intelligent, independent women who had been the victim of failed marriages, redundancy, the recession, even simply red tape or unfair interest rates, and were struggling to see a way out.
If their marriage fails, they get half the shit her husband owns. If they lose their job, they get handouts from the government, this being the UK. The recession? If you have a job, you’ll be fine. If not, socialism pays you for not working. Unfair interest rates? Unfair interest rates? Am I hallucinating? When you see an ad for pay-day loans, and it says that the effective annual interest rate is a few thousand per cent (maths is a weapon of the patriarchy, remember?), then that’s not an “unfair” interest rate. Instead, you are incredibly stupid if you take such a loan. Can you be a smart and successful woman if you make stupid decisions? No, you cannot.
We are supposed to be self-sufficient, but a colleague admitted: ‘I’ve always thought I’d marry money.’
Six-figures with a six-pack, amirite?
Of course, when our entitled little princesses, 16-year olds in the body of hags, don’t get their way, the patriarchy is to blame:
I think there is another reason why women are in more debt than men. The banking industry is sexist. It’s a throwback to the days when women were not allowed to take out a loan without a man as guarantor.
I’m cherry-picking a few quotes, of course, but it’s very difficult to take the plight of those women seriously. Wherever you look, stupid decisions abound. You wonder how stupid? That stupid:
I have set up a direct debit for all my credit cards for the minimum amount, which means I will never be late with a payment. I can pay off chunks when I have the money. And I have set up online banking so I always know how much money is in my account, rather than just hoping for the best. Most importantly, I have stopped spending.
What a fucking moron! The “minimum rate” of your credit card ensures that you stay in the red, with your debt snowballing. Don’t even get a credit card. If you can’t afford something, then just don’t buy it. It’s not as if those women have to take out a loan for buying groceries. The idea to just spend and “hoping for the best” is downright bizarre. Then again, I’m maybe not smart enough to figure out how “smart women” tick. If you think you’ll “marry money”, a few years of compound interest on debt for fashion that goes out of style within weeks is surely worth it. Just look how well things worked out for them.