The Value Of A Buck

MY LONG DEAD FRIEND MRS. HASTINGS USED TO TELL ME THAT THE DOLLAR IS YOUR BEST FRIEND! WHEN ALL YOUR FAKE FRIENDS LEAVE YOU WHEN YOU QUIT PAYING FOR THEIR LUNCHEONS AND DRINKS DOWN AT THE YACHT CLUB AND THEN DON'T EVEN PICK UP THE PHONE TO SEE HOW YOU'RE DOING, WELL THEN SHE TOLD ME, YOU FIND OUT WHO YOUR FRIENDS REALLY ARE!

I WOULD TELL HER, "JEANETTE, ANYONE IS LUCKY IF YOU HAVE A FEW TRUE FRIENDS WHO CARE ABOUT YOU ANYWAY. MOST OF US ARE LUCKY TO HAVE 4 OR 5 WHO REALLY GIVE A DAMN ABOUT WHAT HAPPEN TO ANY OF US ANYWAY"

SHE REPLIED TO ME..., THE ONLY FRIEND ANY OF US REALLY HAVE IS THE DOLLAR. WHEN WE HAVE A LITTLE MONEY, WE CAN WEATHER ANY STORM AND INSULATE OURSELVES FROM WANT. IN FACT, WITH A LITTLE MONEY, WE WILL BE FREE FROM WANT. ALWAYS REMEMBER THE VALUE OF THE DOLLAR!

WELL, IT'S BEEN YEARS SINCE THE LAST TIME I SAW HER. SHE WAS IN HER 80'S THEN AND I'M SURE SHE'S LONG SINCE DEAD. SHE HAD A SMALL ESTATE AND AS AN ANIMAL LOVER SHE LEFT IT TO A UNIVERSITY SCHOOL OF VETERINARY MEDICINE. SHE WAS MARRIED 5X. ALL HER HUSBANDS PRE-DECEASED HER AND SHE HAD NO CHILDREN. SHE NEVER LEARNED TO DRIVE UNTIL SHE WAS IN HER MID-SIXTIES. SHE WAS ONE OF THESE GREAT AMERICAN CHARACTERS I'M SO FOND OF. AN AMERICAN CLASSIC, RIGHT OUT OF CENTRAL CASTING.

HER LESSON TO ME ON THE VALUE OF THE DOLLAR AND HOW MONEY COULD BE YOUR BEST FRIEND WAS NEVER LOST ON ME. YEARS LATER, I MET A FINANCE MAN WHO OWN AND RAN A SMALL FINANCE COMPANY. A LUCRATIVE BUSINESS GIVING HIGH INTEREST RATE LOANS TO THE POOR. BUT THE BEAUTIFUL THING WAS THESE PEOPLE COULD APPLY IN THE MORNING AND HAVE A CHECK THE SAME DAY! AND YOU KNOW WHAT? MOST OF HIS CUSTOMERS PAID LIKE A CLOCK! IF THEY GOT JAMMED UP AND GOT BEHIND, HE WOULD MARK THEM UP AS CURRENT BY GRANTING THEM EXTENSION PAYMENTS. THIS WOULD EXTEND THE LIFE OF THE LOAN AND INCREASE HIS INTEREST RATE FROM 28.74% TO NEARLY 40%! BUT THE CUSTOMERS WERE KEPT CURRENT AND REPORTED TO THE CREDIT BUREAU AS SUCH.

BORROWING FROM A FINANCE COMPANY IS PROBABLY ON OF THE WORST THINGS YOU CAN DO AS FAR AS YOUR CREDIT SCORE GOES. CONSIDERED THE LENDER OF LAST RESORT, A FINANCE COMPANY LOAN, WHETHER FOR FURNITURE OR APPLIANCES CAN HAUNT YOUR CREDIT REPORT FOR UP TO 10 YEARS EVEN AFTER IT HAS BEEN PAID OFF AND ALL OF YOUR PAYMENTS WERE MADE ON TIME! WHILE THE ON TIME PAYMENTS SHOW THAT YOU MADE TIMELY PAYMENTS, THE MERE FACT THAT YOU USED A FINANCE COMPANY WILL HURT YOUR CREDIT SCORE FOR YEARS.

GOOD CREDIT IS PRICELESS. AND LIKE THE DOLLAR, IT CAN BE YOUR BEST FRIEND!

LESSONS LEARNED AND SHARED WITH YOU HERE.

WARRIOR.