About two and a half years ago--a few months before I graduated college--my grandmother said something I'll never forget: "Just wait; after college, that's when your standard of living really goes down."
I raised my eyebrows. What was she talking about? Wasn't a college degree my ticket for prosperity, independence and financial security? I didn't give her comment a second thought.
Turns out, her omen was right on. As my car coasted into the JFP parking lot a few weeks ago with a dead engine, I rested my head in defeat on the steering wheel and said a few choice words.
"Being in your 20s sucks," I thought to myself.
It wasn't just the car engine. For the past few months, it has been one circumstance after another that has put dents in my wallet. Even though I graduated college two years ago, the transition to adulthood and financial independence has been an ongoing challenge.
When we decided the theme of our summer GOOD issue would be money, I knew right away that this would be a great learning experience, not only for myself, but also for our interns. Numbers have never been my strength, and as a member of generation debt, I'm not the only one.
Growing up, I attended a high school in Northern Virginia where most students had better cars than the teachers. My parents were generous and, in wanting to give me all the opportunities they could afford, they paid for college and a summer study session abroad in Europe, and they financed my expensive photography habit.
To put it bluntly: I was spoiled and grew accustomed to the high standard of living set by my parents.
Currently, the average college graduate leaves college with $20,000 in debt. We grew up in the "gotta-have-it-now" culture where student loans and credit cards were easily available. Our generation now faces mounting national debt, rising health-care costs, unemployment and depleted natural resources.
My money-management challenge comes from taking on a full set of bills, living alone and enduring life's unexpected setbacks. We live in a culture that tells us if we aren't spending money, we aren't happy, even though our overspending and mounting debt create unhappiness in the long run.
Financial prosperity is about learning to live without constantly spending money while not feeling deprived. It's about learning how to invest in the community and help others prosper as well. Recently, I've been more conscious about every dollar I spend, and I often ask myself "Is this something I really need?"
How we spend our money is more important now than ever before. Whether it's spending money locally, buying organic produce or where we purchase our gas, every time we spend money, we have the chance to vote with our wallets.
The impact of our dollars goes far beyond our personal finances. On Saturday, I went to Mexicana Taqueria in south Jackson with a friend to watch the World Cup. As we waited for our food, he told me about his recent trip to the now oil-covered Mississippi Gulf Coast. A local resident approached my friend and voiced her opinion: The media need to do a better job of putting a positive spin on the oil spill. My friend explained his frustration with her inability to see that promoting tourism should be a lesser priority than reporting facts. Recently, BP awarded the Mississippi Development Authority a $15 million grant to promote tourism. For the past several weeks, commercials have touted, "The Coast is clear and open for business." But now, the state's last claw at tourism dollars seems to be an exercise in futility.
"Instead of using that money for tourism, why don't they launch a campaign for volunteers to come to the Coast and help with clean up?" he suggested.
What a great idea. Studies show that there is a demand for "voluntourism," in which people are forgoing traditional vacations for more meaningful experiences and giving back to communities in need. Wouldn't it be great to see busloads of high-school students and church members filling up hotel rooms while helping with the Gulf cleanup efforts?
This would mean that Gov. Haley Barbour would have to acknowledge that oil is actually coming up on our beaches and be frank about the situation rather than trying to sweep it under the rug. While Barbour did ask officials for help last week after the oil started to appear on the beaches, his change in tune comes a little late and could have more impact if he called on tourists to give back and help the Coast, alongside BP and the government.
We can all look at our budgets and find places to cut back, but most importantly, we can also look at our spending and find ways to have an impact on others--whether it's forgoing a beer so you can give a few bucks to charity or by supporting a local business.
In this issue, our interns came up with creative and fun ways to save money--and, most importantly, to give back. The ideas they explored are impressive and give me hope that my fellow "generation debt" members can change our spending habits and improve our world, one dollar at time.
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