Most pop stars are not known for their conservative spending habits and it is not unusual to see the outrageous money antics of the glitterati splashed across the tabloids. Justin Bieber is reported to spend $750 on a haircut, which is a drop in the ocean compared to the alleged $1 million a year to fund his extravagant party lifestyle. Beyoncé reputedly gifted her husband Jay-Z a $40 million private jet for his first Father’s Day and not shy of being the centre of attention, Kayne West is said to have had his bottom teeth removed and replaced by a gold and diamond encrusted bar.
Most of our accountants would balk at the frivolity of pop stars, and would point out that they too will need debt negotiators when the singles start to flop. Yet there are a number of songs which offer some sound financial words of wisdom. Below are six songs which not only are entertaining, but also teach us a few valuable lessons about how to handle our cash.
1. “Money Money Money” – ABBA
ABBA sang “I work all night, I work all day, to pay the bills I pay. Ain’t it sad?” Most of us feel that life can be a bit of a never ending treadmill session, trying to keep afloat whilst waiting for the next pay check to hit our account. It is a fine juggling act, as even if you aren’t running up a lot of debt, one unexpected emergency can set you back in the red. The lesson here is unless you are about to find instant Eurovision fame to suddenly swell your financial coffers, it is wise to anticipate those sudden car repair bills, or costly trips to the dentist. The moral here is ‘it’s a rich man’s world”, but a bit of sound financial planning can get you out of debt traps.
2. “Material girl” – Madonna
Yes, granted there are people out there who select a mate due to the size of their bank balance, but for most people choosing a partner for love will make us happier in the long run. But as Madonna points out “only boys that save their pennies make my rainy day”. In recent years, even despite the GFC, many people are still taking advantage of easily available plastic and have consequently accrued considerable debts. This of course can get us into all sorts of trouble, where we may need an external party to provide debt relief services and consolidating bad credit card debt. We may be living in a material world, but sensible savings plans are definitely the new black.
3. “Money’s too Tight to Mention” – Simply Red
In 1985 Simply Red sang about a person with financial issues, who having been laid off work goes to the bank “to see what they could do”. Nowadays when your financial situation gets overwhelming, there are a number of avenues open to seek help. To ensure you don’t receive any debt collection calls from the likes of Credit Corp, Lion Finance and Collection House you can get fast debt help from reputable companies like ours, Debt Busters. We can assist in exploring your debt solutions. It may be a case of moving your credit card debts to one lower interest card or loan, in order to pay less interest. However bleak your situation seems, being able to discuss your situation with your nearest and dearest is very important (as opposed to being “too tight to mention”). Alternately you may wish to seek professional counselling services, which are usually confidential and free of charge.
4. Lady in Red – Chris de Burgh
Chris de Burgh sang about how “amazing” his Lady in Red looked, but whether you are male or female, the feeling of being in debt is anything but alluring. What’s more, you will seem less of an eye-catching suitor to banks or other lending establishments if you have a history of bad credit. Repairing your credit history can take years, but small steps can help with future credit worthiness, for example having regular salary payments going into your account and not going past your overdraft limit. Websites such as My Credit File can give you a greater insight into how you appear on paper from a credit history perspective.
5. “Thrift Shop” by Macklemore and Ryan Lewis featuring Wanz
Your accountant may not have hip hop blaring from his Nissan X-Trail, but he will appreciate some of the lessons this song teaches us. The first is that you do not have to put yourself into debt by buying designer labels: “They be like, ‘Oh, that Gucci – that’s hella tight.’/ I’m like, ‘Yo – that’s $50 for a t-shirt’. If you can’t live without a regular retail therapy fix, at least try to use coupons or vouchers to identify the best offers out there. The second lesson is that fashion in particular is cyclical, therefore saving your old wardrobe, or hitting Vinnies may be the answer to those wardrobe dilemmas: “No for real – ask your grandpa – can I have his hand-me-downs?”
6. “You can’t always get what you want” – Rolling Stones
This 1969 Rolling Stones song is indicative of the rock’n’roll Zeitgeist of the era, with the initial rebellious optimism, followed by disillusionment. Similarly, post GFC Australia has taught us that overstretching ourselves comes at a price and the slightest hike in interest rates may leave you high and dry. The lyrics “but if you try sometimes you might find, you get what you need”, show us that having a long term financial plan to work hard and save money means we can start achieving some of the financial milestones in life. If your debt levels dictate otherwise, again seek professional help from a debt relief company to put together a realistic strategy. You may not be able to compete with Mick Jagger in terms of his yacht or champagne lifestyle, but you’ll be happier in the long run.
Songs about money can be fun, but they can also teach us some valuable lessons in life. Take time to use music as a means of introducing the topic of saving money to children, as sound financial habits should also start early. Hopefully that should lead to a lot more financial satisfaction.
We’re financial freedom fighters and we’re here to help you. Call us today on 1300 368 322, chat with us live now or fill in the contact form below to let us know when to reach you. We’ll go through an obligation free debt consultation with you to see how we can help.