Faux Pas

The poor money management that recently crippled Wall Street has roots on college campuses throughout America, where many students are hopelessly enamored with staying on top of their clothing game.

We are often times our own worst enemy, entrapping ourselves in a prison with Marc Ecko jumpsuits and Jordan issued shoes. Staring blankly through the platinum 26-inch bars of the cell, we sit on our cots lined with Versace linen and wonder how we will cope with a financially bleak future.

With our nation’s economy in a pitiful state, now is as good a time as ever to question our spending habits. There are too many young Americans who are not planning for the future and are opting to spend now rather than save for the future.

In carelessly throwing out cash to keep up with the Jones’, we are flushing away valuable investment, retirement and savings dollars. The key to the successful life that we desire lies in power gained through wise spending and patience. Today’s latest trend is tomorrow’s faux pas, and the present day investor is the future millionaire.

Trends are a chore to keep up with. They are fickle in nature, and have the longevity of a junior high relationship. Staying ahead of the fashion game means running a race that greedy, overpriced retailers make impossible to win on a modest budget.

So many young adults get into this position by falling victim to the lure of advertisements, music videos, and red carpet shows that showcase well groomed celebrities sporting the latest in fashion. What they fail to realize is that these social icons are well within their financial means to purchase items from top designers.

To put it in perspective, ponder on this: You love the pair of sneakers T.I. is wearing in his latest video, and decide to go out and buy them. They will set you back about $200. He just pulled in $1 million of side income from a movie role. You, the average college student, just cashed a paycheck for $400 and still need to pay rent, get gas, and eat. Is a pair of shoes worth having to decide between food, shelter, and transportation?

We have allowed retailers to pimp us for far too long. It is time for us to re-think how we spend, and who we give our money to. If the cost of a secure future is sacrificing a few clothes here and there, then it is a price we must pay.

Posted by Colonnade Archives on Oct 24 2008. Filed under Features. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry