I have to write an Arguementive Essay on an article I read about Credit Cards. The question above is the question I have to answer for my essay. I want to know actual people's point of views on this subject. Any thoughts??
2006-09-21 14:44:18 · 12 answers · asked by Ally, THAT girl 1 in Business & Finance ➔ Credit
I think you already got a lot of interesting answers here. Just wanted to add that I've lived in other countries (Europe & Asia), and I think USA is the most debt-ridden society because it's so easy to get into debt. In other countries, many people do not buy houses/cars without the cash. They save for years to buy a house or a car and just get used to the notion that if you don't have the $$$ in your pocket, you just don't buy anything.
In the US, almost everyone finances the necessities (house, car, etc.) - which gets you into the thinking that certain kinds of debt is okay. But then you get used to borrowing money to do everything else in your life. Throw in a very commerce-driven, materialistic culture that prizes instant gratification, and then it's a slippery slope into people living lifestyles that they can't afford ... you know the rest.
I'm not saying that it's bad to finance your house/car. (I do.) But I have found that that's not the way things are in many other countries.
2006-09-22 06:50:04 · answer #1 · answered by banana_fan 2 · 0⤊ 0⤋
Society makes it easy to fall into the "trap" of debt. Most every company will approve you (in the beginning) and making it look really good.
"Here, take OUR card at this low interest rate - pay off bills, consoidate bills, buy a new car, make home improvements, travel or buy the much needed things you've been wanting!"
Oh yeah, and what they DON'T mention is . . . you might as well take your life and throw it down the toilet! LOL
Credit cards are tempting b/c you can "get it all" or "have it all" in an instant. Your problems are soved!
Until . . . the bills start coming in! Usually, the payments are WAY more than you can actually afford, therefore living NOT w/i your means.
Intentions are good per se, when someone takes a card. But in the long run, it's a very bad idea.
You go into this big, unimaginable debt (b/c you're not watching what you're spending) and then are stuck with high payments which you can't make, then on top of that, you have the charges added for every month you're late or don't pay. Let's not forget the charges if you are over the limit. Companies intentionally allow you to go over your limit b/c they know it's big-time profit for them!
Now, I truly admire those individuals who can use a card and actually pay off the balance at the end of each month! THAT is the responsible way. On this side of the fence, you have persons who are able to make the improvements, buy nice things and travel. These people are the ones who do not have to consolidate bills! They already have their life in good-standing!
There is good AND bad to having a credit card. You just have to be responsible about owning one. B/C if you're not, then the company owns YOU!
Good luck with your essay! Hope I've helped you along! You can take my information and re-write it or use it however you need to to get your project done!
2006-09-21 21:59:02 · answer #2 · answered by penwrite5 5 · 1⤊ 0⤋
It is because us Americans think that we have to have the newest and the best. My first wife helped to rack up a large amount of credit card debt prior to our divorce and bankruptcy. After the divorce I ended up with nothing to show for all of the trouble but more lessons learned. Now, I am very careful with my debt accumulation and make sure that I pay more than the minimum on all of my debts.
What I have seen, and I am living near a very large Army base and have seen once again first hand both the military and the people at my factory living way beyond their means. I know people that work 60 plus hours a week every week for the overtime to have the "nicer" houses and vehicles. I have seen people that stretch to get the house of their dreams than lose it because they could not make the payments. I have seen people driving expensive cars, wearing expensive clothes buying ramen noodles and other low cost food items because they could not afford any thing else.
2006-09-21 22:15:00 · answer #3 · answered by andy 7 · 1⤊ 0⤋
...because you can outspend any income; and many people tend to...
imagine you are a succesful stock trader pulling in $1million a year.... you enjoy a 'work hard play hard' attitude to life and have your fast cars and big houses... the wife decides she wants a nice mansion in the south of france.... all this costs money; not just to purchase but for the upkeep....
This is an extreme example... the most of us on 'average wage' simply decide that we can afford to do things such as buy new cars and have 2 holidays a year when actually we cant.
I'd delve into areas in economics such as 'expected earnings'... whereby you expect to earn x amount in your lifetime and spend accordingly.
I guess a fair few of us overestimate this and spend accordingly... and end up poorer in the long run.
Also, credit is incredibly easy to get at the moment due to historically low interest rates and historically high consumer spending. The bubble has to burst at some point.... perhaps mention how the internet has affected this (both in ease of applying for cards and ease of using them)
good luck
2006-09-21 21:50:37 · answer #4 · answered by acestony 1 · 0⤊ 0⤋
Take a look at a book called, "Evil Money Evil Credit". Is has additional information which should be able to help ya out. There is a blog called, "How To Get Good Credit Gab" at
www. HowToGetGoodCredit.blogspot. com
Some of it is greed...
Some of it is depression...
I'll be more than willing to talk to ya about credit.
I just spoke with The National Enquirer Magazine last week on the topic of credit.
After u have looked at the blog, call me some time at 623.205.2415 and leave ur name and number. I'll call u back and discuss the topic.
Best wishes.
2006-09-21 22:30:47 · answer #5 · answered by paeradio 2 · 0⤊ 0⤋
'I think your means' is a limitation. I just create more money every year as I know I need more things and I like living a good life. Keep in mind we're all blessed to be living in the internet age and for anybody, especially one who has a computer to be poor is mind boggling. You can create all kinds of income if you're just creative legally. I'm living the internet lifestyle. I like this article on how much money anyone can make online.
2006-09-21 22:06:06 · answer #6 · answered by Man Rae 1 · 0⤊ 1⤋
Simply people are like cattle as a group they can be tricked into debt slavery and say 'it's smart'.
The individual who decides to have a no credit usage and go with cash only is nearly castrated and branded a heratic.
Advertisement are powerful brain washing.
2006-09-21 23:10:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I keep asking my friends the same thing. I don't have any problem living within my means, but my friends all seem to overstep their spending limits and then spend countless hours complaining.
The media and the world makes us all think that we need material things to be happy and be accepted by others. Credit cards make it easy.
2006-09-21 21:49:26 · answer #8 · answered by Joel D 2 · 1⤊ 0⤋
Visa Vacation
2006-09-21 21:46:37 · answer #9 · answered by likeitis 3 · 0⤊ 0⤋
Most people live above their means because they want every thing they see the other person has.
2006-09-21 22:28:38 · answer #10 · answered by Irie 3 · 0⤊ 0⤋