A Need Or A Want?
Credit Card Debt. Delinquent Credit card bills reached an all time high this month. The problem hasn't been this bad since 1998. It unfortunately goes along with the high unemployment rate.
During the housing boom more consumers could tap into their home equity to pay off bills such as credit cards. Unfortunately so many consumers just jumped back on the spending bandwagon and charged them right back up.
It is part of the belief that the "I can buy whatever I want attitude".
Part of it is because kids don't have to work for anything anymore. Parents are handing cell phones out to first and second graders. That is totally insane. I have a 16 year old, 11 year old, and 4 month old. My kids know that they will get a cell phone when they get a job to pay the bill.
I always ask my kids when they say they "want" something. Is it a genuine need? Or a I want.
I do not believe in the "Because my friend has it I want it". That attitude does not work with me.
I do have a credit card. But I don't overuse it. That responsibility comes with a been there, done that.
When I was in my early 20's I had some credit card problems. I called consumer credit counseling (A not for profit) organization that helps people out with credit card debt. They helpedme and since then I have been very careful.
People are too fast to file bankruptcy and then do the same thing over again. That comes from not being taught responsibility at a young age. So if you have children start now. Don't give them everything. Make them earn what they want. Then it means more and makes them more responsible.
I hope you agree with me but if you don't I still want you to give me your thoughts.
Comments(3)