I want to share a story about a Thanksgiving Turkey.
A newlywed couple were hosting their first family Thanksgiving. Family was arriving in a few hours and the wife was preparing the turkey to be put into the oven. She proceeded by getting the stuffing ready to put inside, seasoning the outside AND cutting off the neck of the turkey.
The husband noticed his bride cutting the neck off the turkey and asked her why she was doing this.
She responded with "I don't know, that is what my mother always did."
The husband was curious to find out why this was the case. When the family arrived, he was able to ask his wife's mother: "when you cook a turkey in the oven, why do you cut off the neck off?"
SAME response! "I don't know, that is what my mother always did!"
Lucky grandma was over for this family gathering.
So, the question was asked: "Grandma, when you used to cook a turkey in the oven, why did you cut the neck off?"
Grandma said: "Easy, because it wouldn't fit in my oven." 😲
Moral of the story: know WHY you are doing something!!!
Do not do something because "everyone" else is doing it. Know why you are doing it!
Ask questions, find answers, and make your own informed decisions.
This relates beautifully to finances. You can relate it to any of the "normal" behaviours that are out there today. Getting car loans, credit cards, investing in X.Y.Z. stock, online shopping, and whatever you see majority of people doing in your neighbourhood.
Now let us talk about the credit card.
In Australia, there are over 16 million credit card accounts!!! Currently, there are only about 20 million adults that live in Australia to be able to even make this decision. A ratio of 80%, WOW!
In the United States, it is not much different. There is an estimate of 253 million adults in the US and 191 million have at least one credit card! A ratio of 75%. Check out this link for more details: Credit Card stats
**Disclaimer - I used to be one of the people with a credit card! Until I learned the truth and started asking WHY? **
Funny how these percentages line up with the percentages of people living paycheck to paycheck.... something to think about. (Paycheck to paycheck)
We all remember being a kid and asking questions. Why? Why? Why? always that curiosity of wanting to learn.
Go back to that inner kid and start asking Why? again and again.
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