“I’ll gladly pay you Tuesday for a hamburger today.”
That was the continuing banter always heard by Wimpy in the cartoon “Popeye the Sailor Man.”
I’m sure Wimpy had a more significant role in the cartoon, but for the life of me I can’t remember what that role was.
It seems the world has grasped the concept of having whatever it is you want right now, and not waiting for tomorrow.
The difference between the Greatest Generation and the X-generation is much more than just the ability to text.
It also is more than having the baby-boomers sandwiched in between.
It seems that saving for something you want has become as outdated as having a class reunion.
Why bother with the difficult details of assembling your classmates from all over the country to catch up on old times, when all you have to do is log-in to Facebook.
No fuss, no muss, so simple.
The older folks knew the old adage “If something is worth having, it’s worth waiting for.”
They also knew that paying for your wants many times over in interest charges is a losing proposition.
However, little children before being disciplined usually rant and rave about “I want what I want when I want it!”
Unfortunately, many little children have never been taught the word “no” or the phrase “not now.”
Because of that, they grow up expecting their wants and their needs to be fully satisfied. This prevailing attitude has not only spread across generations, it has also reached different countries as well.
Thus, a world based on instant gratification has become the norm. Whether it’s the third car, second home, or the fifth cell phone, needs have become supplanted by wants, irrespective of whether it’s individually affordable or not.
In addition to vacations, early retirement and large pensions have become many country’s policies, let the budget be damned.
Sorry to say that sooner or later, it’s Tuesday and the hamburger has to be paid for.
It makes no difference if you’re Greece, Italy, the U.S., or Popeye’s friend Wimpy.
So, the next time someone implies “I will gladly pay you Tuesday for a hamburger today” simply respond “Sorry, not this time.”
But more than likely, that usually only happens in the cartoons.
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at firstname.lastname@example.org and on Twitter @tatroshow.