Larry says if you aren't paying your bills, you lack integrity. You signed a contract for a service and your payment in return, and not upholding your end shows you lack integrity. Simple as that.
And in simplifying it, he says:
I really don't emphasize easy as much as simple, and I do think there is a difference. Everything in life comes down to simple things. If you want to lose weight, all you have to do is eat less and exercise more. If you want to have money, earn more and spend less. That's all it takes. I do sum up the book by saying what's easy to do is just as easy not to do. It's easy not to take action. I think people are attracted to hard solutions for one reason: If they don't make it, they have an excuse for failure. When you hit them over the head with the simple approach, you don't leave them a way out.
I was raised to be a good steward of my funds. I pay off my credit card every month. Think I'm bragging or on my high horse? I AM! I'm proud of my credit record.
No, I don't always save as much as I could each month and I have my own vices...but I don't live outside my means. If it means renting a smaller apartment, less closet space isn't going to kill you. If it means not going out on a Saturday night, your wallet - and your body- will probably thank you. If it means re-watching a movie you already own, you spent $10 on it in the first place so you must like it!
And the credit card companies that charge a $10 late fee, bravo. They play a part too in teaching us to Pay on time. Or don't charge it.
Depression or no depression, we have to learn as individuals to live within our means. NOT to rely on the government to "bail us out" when we spend too much. Might as well just quit life and get on welfare then! I don't care what it is, but don't come running to me saying you deserve a bailout.