A new year for abundant blessings

Wasn’t it only yesterday that we were in the old year wondering if the new one would get any better?  Today it is the New Year!  We should all wear our happy faces to manifest our intention of making this one better than the last. 

Let’s face it, too much bad news have been getting in the way of our personal happiness.  If the stock market crashes, so be it.  If our 401(k) or pension plans aren’t growing as fast as we hope, let it be.  If the commodity prices go up and our paychecks stay the same, what can we do?  Chalk it up as part of the perils of our ever growing process.

My friend in Oregon is one person I know who’s most happy to see the old year go.  The year 2010 for him and his family was fraught with sadness.  One day last fall his beloved sister (a retired physician) stopped taking telephone calls and didn’t return any messages.  When a police broke into her home, she was found dead from a heart attack.  Apparently, the cardiac arrest was caused by too much worrying over losing the assets she had accumulated from her long years of medical practice.  Years ago, she had co-signed a mortgage loan with a younger sister who defaulted on the loan for many months.  Obviously, the deceased doctor worried herself sick over the possibility of losing all of her hard-earned assets.

The lessons I gathered from this unfortunate event are:  (1) Never co-guarantee a loan even for a blood relative; (2) Don’t get too attached to material possessions as worrying over losing them can have lethal consequences.

I felt my friend’s pain over losing his older sister because they were joined at the hips.  But I told him that she had served her purpose in this world and it was time for her to go.  Besides, she went to a better place without bills to pay and problems to worry about!

On the other hand, I’m sure that the other sister (the one who caused the financial worry that resulted in the older sister’s demise) must be blaming herself for the death.  She, too, was very close to the older sister.  She was going through a rough patch the past few years because her husband left her for a younger woman.  Interestingly enough, the husband came from another country and she was responsible for his legal entry into the United States.  Obviously, gratitude and loyalty were not two of his character traits!  I’m sure that his spouse now wishes that karma will catch up with him and she probably wants to see it happen in her lifetime.

Besides my friend’s family, I’m sure that millions of folks can’t wait to welcome the New Year, hoping to see positive changes in our world.  The past year was full of unhappy news in government, finance, and employment.  My personal belief is that every bad financial news that had happened was the consequence of pure human greed.  Somehow man’s desire is insatiable when it comes to money.  If only we can be satisfied with just enough or even less rather than reaching for more, maybe our world won’t be in this downhill spiral.  But there’s no sense pointing fingers at anyone.  It’s clear that we, in our own little way, have contributed to the financial mess we’re in. 

It’s not too late to cure the gnawing disease of greed in our midst.  Everyone has to step in and do their part to right the wrong.  Certainly, one of the world’s personal problems is the out-of-control credit card debt.  People need to restrain their beyond-their-means spending and retire that plastic.  I know that having a credit card can be empowering, but it can be a financial disaster waiting to happen.  In many cases, the credit card bills get out of control!

If everyone can flashback to the good old days when credit buying wasn’t the fashion, we’ll all appreciate the meaning of financial responsibility.  Back in those days, people instantly paid for the goods they bought… not after thirty days nor on installment basis that can go on for years.  I think that upfront payment is a very sensible way to purchase low-end merchandise.  First, save money to buy the goods.  Not get the items now and pay later.  Home purchase and car buying, even the cost of education and medical care, can be handled on the enjoy-now-pay-later plan for the obvious reasons.  But the other stuff, like a $19.99 all-weather jacket, should not be paid for by plastic unless the purchase cost will be immediately settled when the bill arrives.  If not, that $19.99 jacket will end up costing more than double the price after a few years! 

It brings so much joy to not have to be burdened by financial obligations, especially those small amounts that can mushroom into four or five, even six, digits on the credit card bill if not handled responsibly.  My personal goal these days is to use a credit card only to keep a credit history going.  My debit card can perform the same purchasing function, but its use poses great risk in this age of identity theft.

My fervent wish for 2011 is to see millions of unemployed folks go back to the work force.  Seeing this become a reality will certainly take care of many of the economic woes the world has been experiencing recently.  People everywhere cannot take care of their needs without jobs to support them.  Let’s all hope that a financial miracle makes this an immediate reality.

A Prosperous and Happy New Year to all!