The Money Problem
I will never forget the first day I pulled into a fire station parking lot in my 1999 Mercury Sable and parked between two brand new 2007, lifted, Ford F-150s, trimmed with chrome and $750/month car payments. As I exited my beater, the handle fell off and I shoved it back into place, hoping nobody had seen. As I walked down F-150 and Silverado row, I fantasized about the riches that I was about to rake in in my first fire department job and a time when I too would be able to back that payment laden monstrosity into the parking space for all to gaze upon so that they may know, I was a firefighter. It was only a matter of time.
When you become a firefighter, you get a badge, a set of turnout gear, and a brand new truck. I don’t make the rules. It’s just what you do. On the back of that truck, you put firefighter or EMS license plates and bumper stickers in case you get stopped by cops. Inevitably, you have to add a lift kit and window tinting in case you need to drive through a flood to get to work, or so none of your patients recognize you driving down the street. It’s just what you do. You have to work extra hours to pay for it on your firefighter or EMT salary because somebody in their infinite wisdom decided to give you a loan for 50% of your income. The extra hours translate to extra miles, and pretty soon, that truck is old and you have to buy a new one in the name of “reliable transportation” because God forbid you aren’t able to get to work or the citizens will suffer, and then you trade that truck in on an even bigger, flashier, more payment heavy monstrosity because that’s just. what. you. do.
Nobody explained this to me and pretty soon, I was strapped with almost $200k in student and consumer debt and no ability to pay for it. Did you know that 40% of divorces are caused by financial strain, or that 4 in 10 Americans can’t cover a $400 emergency. While we can’t ask suicide victims for their reasons, there is quite a bit of evidence to suggest that money problems are at least a significant concern for a large number of those considering it.
This worries me for my fellow public servants because anecdotally, I don’t see a lot of variation from the statistics. I know quite a few folks who would be in trouble if their paycheck came up short or was delayed by a day or two. It’s stress added into our lives in a job that already adds enough, and while we do a whole lot of complaining about the money coming in, rarely do we address the other half of the equation. I can tell you from experience that the years spent paying off all of that debt were a miserable grind. I was exhausted and burnt out, but with every dollar that came off of that total, the weight was just a little bit less, and when I submitted the final payment on the last of my student and consumer debt, the relief was palpable. There were no more extra jobs or overtime, which helped a lot with the burnout. I was able to put something away for the rainy days which helped with the outside stresses and sleepless nights. As Dave Ramsey likes to say; “When you have money, an emergency becomes an inconvenience.”
The point is that while the pay is getting better, it’s still not where it needs to be. But no matter how much we complain, we don’t have control over that and the market will always lag inflation. What we do have control over is our own spending and saving habits and while it sucks in the moment, there is scarcely an agency who doesn’t have desperate need for our services. Overtime is almost unlimited in my organization and every surrounding agency. Trust me. I am the burnout guy. You will not find me working excess overtime, but it was worth it for a short while to get control of my life. If you want to get control of your finances, and consequently, your life, I suggest reading Dave’s Total Money Makeover. His program changed my life, and I know it can change yours… if you’re willing to put in the work.