The One Thing that Makes Kanye West Normal.


You're always ballin out but you still got debt





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.

 

Sources say that the $53 million is the total that was taken from his personal resources to fund various aspects of his fashion and musical ventures. I can see people using Kanye as a contrast to their situation. “Kanye owes $53 Mill, my $23 thousand is nothing compared to that!”. You use his debt to downplay your own. To compare his debt to that of a person that is financially irresponsible or careless would be a fools move.

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. 

Share:

1 Comment

  1. March 2, 2016 / 6:53 am

    First of all, Kiersten, your hair looks amazing in that Pumpkin photo! Secondly, you make it sound so easy to live debt free; hoevewr, I know first-hand, being a natural spender and gift-giver, how incredibly difficult it is to sustain this lifestyle in the long-term. Generally, though, when something is difficult, it means the reward is so much more fulfilling. My main words of advice to anyone striving to stay on a budget, live debt-free, and instill in their children a financial knowledge and know-how is plan ahead. Having a plan, either in the short-term or long-term, enables a family to have a great present while not forgoing an incredible future. Good, smart, frugal planning can make, what may have seen out-of-reach, an easy feet. With wise planning we have been able to live debt-free, buy a home with a significant down payment, plan for college, and endure less stressful entanglements about spending. I was not a stranger to the income level excuse, but I realized early on when we made $35,000 I had to make hard choices, when we made $55,000 a year I had to make hard choices, and now still when our income is very close to what I always hoped, I still have to make hard choices. My mindset truly did change when I decided not to think of these choices of what I was giving up but all the remarkable experiences that my family has without the stress of debt. Thanks so much for this topic, Kiersten. I know my response is long, but my passion is pretty fierce for this subject because I have seen how good financial planning changes lives and relationships for generations.

Leave a Reply

Your email address will not be published. Required fields are marked *