I just don't understand why people are so materialistic, they put them selves into such hardships. What ever happened to good old cash, and I can't afford that?
2007-02-01 05:03:04 · 5 answers · asked by Cheryl 6 in Business & Finance ➔ Credit
Unfortunately people equate self worth through materilistic items. The idea of doing with out is a foreign idea in our society. I will agree that some debt is created out of survival, but most is on having the lastest and greatest new gadget. The behavior is learned and we are teaching the next generation poor spending habits.
2007-02-01 05:08:36 · answer #1 · answered by plum_oasis 1 · 1⤊ 0⤋
Attitudes about credit and deficit spending change with the generations. The WWII & depression era children generally don't abuse credit, the "I want it now" generation is the children of the 60s and up. Bankruptcy used to be a statement about a person's complete lack of character, now it's common and until last October, it was easy to get. Creditors used to lend to those who were credit worthy, now they seek out the weakest, our elders and our children. People who pay in full every month are the "dead beats" according the the card companies. They pay our colleges to get on campus and get our children into debt. You have to use credit to have good credit. That is our system. Things are also no longer built to last, this is a disposable society. What do you think about the federal government's deficit?
2007-02-05 01:38:23 · answer #2 · answered by CJ 2 · 1⤊ 0⤋
Part of the problem is that credit cards are too accessible. Lenders are much too generous with credit especially when it comes to granting credit lines to people who don't know how to handle money or control their urge to spend. Our culture has conditioned us to spend and gratify ourselves with money we don't even have. They do provide a valuable service and when used sensibly they are good thing to have. But they are also a nasty temptation luring us to accumulate more and more debt. People who spend what they don't have using credit cards are deluding themselves into a "tomorrow will take care of itself" attitude. If you're not disciplined enough to watch what you spend and budget yourself then you should not be carrying plastic.
2007-02-01 13:13:34 · answer #3 · answered by douglas l 5 · 2⤊ 0⤋
That's how i live..I know the difference between What I want and What I need and I live on what I need.
2007-02-01 13:12:02 · answer #4 · answered by Anonymous · 3⤊ 0⤋
They have no financial discipline and poor money management skills.
2007-02-01 13:07:03 · answer #5 · answered by negoshable 1 · 6⤊ 0⤋