Frank Morris is a 21-year-old hotel sales manager. He’s a serious guy who feels he is on the slippery slope to serious debt. His negative credit card balance of €3K is causing him sleepless nights. And he worries that he has no pension and is not in a position to buy a house. But he’s only 21.
He does need to get his spending under control – cut out the disproportionate spend on clothes and toiletries – yes toiletries! And stop buying people rounds. At the end of month 1 Frank has cut way back but there seems to be little fun in his life.
Eddie’s concern is that psychologically, there’s a danger of a bigger fall if you try to be too extreme. It’s like a soup diet, the weight may fall off as you endure the misery but eventually you will have a major blowout.
Eddie’s job is to convince Frank that pensions and houses can wait. He should live a little and find the right balance between
sensible management and a monkish existence.