Comments on: Credit Card Debt Obsession: Americans Unwilling to Give up Plastic. Bankruptcies and the Credit Card Addiction. http://www.mybudget360.com/credit-card-debt-obsession-americans-unwilling-to-give-up-plastic-bankruptcies-and-the-credit-card-addiction/ Investing ideas for preserving wealth in a fluctuating market. Thu, 29 Jul 2010 14:34:27 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David http://www.mybudget360.com/credit-card-debt-obsession-americans-unwilling-to-give-up-plastic-bankruptcies-and-the-credit-card-addiction/comment-page-1/#comment-8907 David Fri, 05 Jun 2009 18:59:54 +0000 http://www.mybudget360.com/?p=827#comment-8907 For too many families now a credit card is the only way that financially they can meet basic needs. They have lost their house, lost their job (both husband and wife) and cannot qualify for government assistance because they have made too much in wages the past year. So they use what is left and that is their credit limit to buy food and gas to search for another job which will not pay as much as the one they lost. What are they to do? All that said we as Americans need to quit the credit card addiction and do what we expect our local governments to do. Operate on a budget! It means giving up alot of things a relearning fiscal responsibility. It has been a hard lesson for me but I am learning. One last item, without good paying jobs for our citizens getting off the credit card merry-go-round will be impossible because income won't rise sufficiently to allow paying off balances and meeting monthly needs. For too many families now a credit card is the only way that financially they can meet basic needs. They have lost their house, lost their job (both husband and wife) and cannot qualify for government assistance because they have made too much in wages the past year. So they use what is left and that is their credit limit to buy food and gas to search for another job which will not pay as much as the one they lost. What are they to do? All that said we as Americans need to quit the credit card addiction and do what we expect our local governments to do. Operate on a budget! It means giving up alot of things a relearning fiscal responsibility. It has been a hard lesson for me but I am learning. One last item, without good paying jobs for our citizens getting off the credit card merry-go-round will be impossible because income won’t rise sufficiently to allow paying off balances and meeting monthly needs.

]]> By: TheCynicalEconomist http://www.mybudget360.com/credit-card-debt-obsession-americans-unwilling-to-give-up-plastic-bankruptcies-and-the-credit-card-addiction/comment-page-1/#comment-8888 TheCynicalEconomist Thu, 04 Jun 2009 23:52:13 +0000 http://www.mybudget360.com/?p=827#comment-8888 "Mortgage debt, auto debt, and consumer debt through credit cards. With $962 ****trillion*** in revolving debt, Americans are anything but shy to use the credit card" Change trillion to billion I know just stupid typo... I do those on my site too “Mortgage debt, auto debt, and consumer debt through credit cards. With $962 ****trillion*** in revolving debt, Americans are anything but shy to use the credit card”

Change trillion to billion
I know just stupid typo…
I do those on my site too

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