Or at least my part in it…
So in my previous post, I set the stage for my lifelong indebtedness, my desire to get out of it, and my general incompetence in doing so. Today we track a short history of my attempt to understand money.
By which I mean, it’s time to take another wack at budgeting…
Once, long ago, I set off for college. Before I went, my mother took me down to the bank and opened a checking account for me. Through this, I would learn to take care of my own finances as well as provide an easy conduit for my parents to funnel money to me as needed. One thing extra she did though was include what was then called “Overdraft Protection.” It was not a line of credit per se, nor was it a credit card. It was just a small amount ($500) intended to cover those moments when the bank decided to clear the checks I wrote, before the checks I deposited. For some reason, banks always prefer to do things in this order and I guess my mom knew full well who she was putting in charge of this account.