Credit-Card-Debt

Credit card debt is not any thing easy to get out of. It sure is easy to get in to debt but you have to scrape and crawl your way out of bottomless black hole.


Americans are saving less and charging more. We live in a world of, I want it and I want it right now. What ever happened to waiting or putting off pleasure? Credit card companies have made it too easy for us to live beyond our means. We cannot blame the credit card companies for all of our debt. We need to learn to tell ourselves "NO". We also need to learn to tell our children "NO" also. We need to learn self control and think about tomorrow and not what is going to make us happy today.


I recently saw a commercial that Gary Coleman was in. It was for one of those "payday loan" places. I am not certain on the company so I do not want to bash the wrong one. Although, I would not promote any of them. I was watching the commercial and then I saw the small print come up on the screen and I have Tivo, so I hit the pause button. I nearly fell off of my sofa when I read that you can borrow $2500.00 at 99.25% interest. After making payments back to the company you will repay over $9000.00.


What part of this sounds like a good idea? I guess desperate people call for desperate measures. Even if a family members’ life depended on me giving them $2500.00, I would sell my car before I would borrow money at nearly 100% interest. That is "highway robbery" at its’ best.