Originally Posted by AR
Originally Posted by venice
AR is right on target on this one...it should be very very hard to get a credit card and our country should pay down the national debt
My father was an accountant. When I was a kid in the 50's I remember him saying, "Getting a loan is easy. All you have to do is prove that you don't need one." Nice gag, but the fact is that credit cards, payday loans, tax-refund loans. . .none of that stuff was seriously on the radar screen yet. And getting a loan was serious business.
Lately all you've had to do to get one is fog a mirror.
The Captain's note should be an inspiration to all: pay yourself first, stay out of debt, don't expect the government to help you or bail your ass out of your self-created problems, and stay humble. Laugh a lot, retire early, don't look back. There is true nobililty in that perspective.
All good points. I think part of the problem is that kids are just learning by their parents examples of the "got to have it now" mentality. There seems to be an idea out there that debt is just the American way and people go out, overextend themselves over items that years ago people wouldn't have dreamed of buying until probably retirement age...They justify it with the old "you can't take money with you when you die" mentality. While I think the responsiblity is the parent's to teach kids to be smart about money, it would be good if the schools started teaching some of the financial health basics and pointing out the serious disadvantages to going in to debt....People today think it's a good idea to go out and buy a new car to "rebuild" their credit...Oh my God! Let's face it, most of our parents would have considered cruising some kind of super luxury vacation that could only possibly be taken after retirement, if even then...Today, people in their early 20s are taking them twice a year or more...And I would bet that most of them are paying for them on high interest credit cards...Dont get me wrong, I know not ALL of them are doing this.
As far as this possibly upcoming rebate from the goverment, I don't see how it could hurt. I think what people fail to remember about these rebates is that it IS OUR MONEY and it is their DUTY to return it back to us whenever they can...It shouldn't be considered some kind of gift because, again, IT'S OURS!!!