There’s a sad, sad truth about this. We don’t teach well enough about personal finance. Our society lives on credit and debt. Very little desire to save up the cash to buy something so we put it on a credit card, take out a lease on a car, or a loan for this and for that.
So we can’t afford to buy the item outright, but we can afford to buy the item and put it on a credit card or a loan, and then pay interest on it so that it actually costs more…….sound logic.
Even worse, is that the financial business call those that pay off their credit card every month and don’t pay a penny in interest “deadbeats.”
It isn’t all that simple to survive in our modern day consumer society without a credit card! All one needs is to have common sense about it (something that unfortunately is lacking in too many). Try reserving a hotel room or rental car, or any simple travel without one… it’s a necessary part of our modern consumer society. Plus one does have certain protections against loss that one would not get using a debit card or cash. I suppose that not having a credit card is fine for those who just sit at home all the time.
Stocky One almost 5 years ago
“A loan again?” “No, my buddy Frank is with me!”
Subguy322 almost 5 years ago
a bank will NEVER gives you too much credit.
InTraining almost 5 years ago
and the court gave him his walking papers…!
russef almost 5 years ago
Nice going Thaves. Now Trump will start tweeting this logic.
"It's the End of the World!!!" Premium Member almost 5 years ago
There’s a sad, sad truth about this. We don’t teach well enough about personal finance. Our society lives on credit and debt. Very little desire to save up the cash to buy something so we put it on a credit card, take out a lease on a car, or a loan for this and for that.
So we can’t afford to buy the item outright, but we can afford to buy the item and put it on a credit card or a loan, and then pay interest on it so that it actually costs more…….sound logic.
Even worse, is that the financial business call those that pay off their credit card every month and don’t pay a penny in interest “deadbeats.”
WF11 almost 5 years ago
It isn’t all that simple to survive in our modern day consumer society without a credit card! All one needs is to have common sense about it (something that unfortunately is lacking in too many). Try reserving a hotel room or rental car, or any simple travel without one… it’s a necessary part of our modern consumer society. Plus one does have certain protections against loss that one would not get using a debit card or cash. I suppose that not having a credit card is fine for those who just sit at home all the time.
kaycstamper almost 5 years ago
I pay mine off every month and my credit rating is 846. Not a deadbeat. Deadbeats are those that don’t pay their bills.