I hear about sooo many americans living in debt, i've never had a problem with it. How can people live knowing gradually people are slowly taking your money, with interest piling up everyday. Is it that hard for u guy so just cut back on everything you buy and just pay it off?
2006-07-01 12:51:03 · 2 answers · asked by Blackice 1 in Business & Finance ➔ Personal Finance
That's a pretty simplistic view. It SHOULD be that easy, but it's not. People get into debt for a lot of reasons, and that includes the 'I want that now and have to have it now" attitude. Americans are not saving, they are spending, spending, spending and credit is easy.
Most, I'm sure, believe that they can manage to pay it off by paying the minimums.. which will take them YEARS to do. By the time they realize they're in too deep, it's usually because they're in BIG trouble.
You DO need credit in today's world, and that means having some debt and MANAGING it. Once you let it get out of control, you're sunk.
2006-07-01 13:00:54 · answer #1 · answered by SciFiDiva 2 · 0⤊ 0⤋
well i wish i was debt free but here in America it seems to be the way of life. living from paycheck to paycheck. unless you are fortunate to have money. i am called the "working poor" min. paying job that does not cover medical bills and barely enough to cover the rent and with having a child ,to work it cost alot for daycare. i hope you never get into that problem.
2006-07-01 13:01:33 · answer #2 · answered by montanamom 3 · 0⤊ 0⤋