“Don’t buy stuff you can’t afford.” It’s a simple rule that everyone’s been telling us lately, but one that’s hard to live by.

Whether you are spending out of your means out of necessity or simply because you have some deep-seeded need to “keep up with the Joneses”, 43% of Americans are spending more than they make. The Joneses are trying to keep up with other Joneses and they’re keeping up with other Joneses and it’s an endless cycle of out-Jones-ing that can result in financial ruin.

Most of that overspending is emotionally driven and entirely preventable. Unforeseen events (medical emergency, job loss, busted car, or busted tooth) can be just as catastrophic. If you haven’t planned with an emergency fund, many times you’ll have to fall back on credit cards to front the cost. So, not only do you owe what you owed before, but you now own interest on top of that. Welcome to the hell on earth that is unmanageable credit card debt.

Who the hell am I to tell you this? I did some really stupid things that resulted in me becoming really poor. I wasn’t having any fun being really poor, so I did some really smart things that I’d like to share with you.

#1 STUPID Thing: In 1999, personal circumstances sent me on an ill-conceived decorating spree (to mask my pain or something), where I went to Kmart and charged $375.00 on my credit card for shower curtains, watermelon-colored paint, and a teeny-tiny Barbie tumbler.

#2 STUPID Thing: I was accruing and ignoring parking tickets like I was looking to make some City of Chicago themed duvet cover.

#3 STUPID Thing: Wracked up some woe-is-me $350.00 phone bill.

#4 STUPID Thing: Answered the phone drunk and ended up getting charmed into buying magazine subscriptions that cost $29.00 a month for 3 years.

#5 STUPID Thing: Paid an astronomical phone bill and some utility bills with my $1500.00 limit credit card.

#6 STUPID Thing: Spent remaining 2 years in grad school ignoring/ stuffing/burying/burning/denying bills and their debt they represented. Swore/lied to/ignored the frequent calls of Citibank and Providian.

#1 SMART Thing: FINALLY took actions when the interest charges (which go up to 39.99% if you are over your credit limit/late/under minimum payment charges) ended up taking my $725.00 original debt in May of 1999 and turned it into over $4000.00 by May of 2001.

#2 SMART Thing: I went to a not-for-profit credit counseling organization and made regular payments to them. I eventually paid everything off. They gave me a certificate that I put on my fridge. I was proud.

I want to help you do smart things too. I don’t want you to be really poor. People in a lot of debt a lot of times do not have a lot of fun.

I’m not saying you gotta be rich to have fun, I just want you to enjoy a nice life while living within your means and financially preparing for life’s certainties and uncertainties. Because you never know when, say, you rack up a $30,000 medical bill when a giant fat man falls on your leg and breaks it.

Tags: credit cards, debt, saving