I realized this week that debt, like death, doesn’t care who you are. Music icon Kanye West announced this week that he was $53 Million dollars in debt. That number is large but it may not be the same type personal debt that you or I might carry. He didn’t go into the nearest Hermes and buy two of everything in the store. Nor did he purchase each car on the top 10 most expensive car list, with cars ranging from 1.2 million to 8 million. He accrued the debt to fund a dream and in funding that dream, we saw what he wanted us to see, the trips around the world and designer fashions. We would have never known Kanye West was dealing with something that the everyday person deals with. That something being ridiculous amounts of debt.
Some people use actions of famous people to start a dialog that can reflect things in their personal life. This could be that spark that can start the conversation for you to reflect on your personal finances. Take a moment to think about all your recent purchases. Do they reflect who you really are or do they reflect the person you’re trying to be? Debt doesn’t care how may touchdowns you scored, how may degrees you have or how many platinum albums you have. If you owe…..you owe, simple as that. Debt is a common denominator among many households yet we never think that these celebrities who appear to have immense amounts of money at their disposal can also struggle from debt. It goes to show that the grass isn’t always greener on the other side. The great thing about Broke On Purpose is that it’s a movement that can motivate you to realize and accept your current situation, but more importantly, it can help you evolve to the place you strive to be financially.