Comments on: America and the Culture of Debt http://www.straightnorth.com/blog/america-culture-of-debt/ Internet Marketing, Branding and Web Development for B2B Mon, 06 Feb 2012 20:45:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Brad Shorr http://www.straightnorth.com/blog/america-culture-of-debt/comment-page-1/#comment-1249 Brad Shorr Thu, 03 Apr 2008 13:49:19 +0000 http://www.wordsellinc.com/blog/marketing/america-culture-of-debt/#comment-1249 Deb, that's a good point about impulse shopping on the internet. Maybe we should all put little warning signs on our computer monitors. You mention the banks encouraging debt - do you notice even now, credit card junk mail from banks is alive and well. Deb, that’s a good point about impulse shopping on the internet. Maybe we should all put little warning signs on our computer monitors. You mention the banks encouraging debt – do you notice even now, credit card junk mail from banks is alive and well.

]]> By: --Deb http://www.straightnorth.com/blog/america-culture-of-debt/comment-page-1/#comment-1248 --Deb Thu, 03 Apr 2008 13:45:35 +0000 http://www.wordsellinc.com/blog/marketing/america-culture-of-debt/#comment-1248 I think this consumption obsession is an off-shoot of the "I deserve it" mentality that so many of us grew up with. Why SHOULDN'T the bank give you credit when you're so very deserving of having anything you like? Why SHOULDN'T you buy that third flatscreen if you want it? I think that's part of what makes it so hard to reign in--we're so much in the habit of wanting to get ourselves and our kids whatever our hearts desire and the banks make it so easy. Oh, and about the internet? It makes comparison shopping effortless, but it also makes impulse-shopping sooooo much easier. It's like playing with fire--a great tool to use, but easy to get burned! That said, I do use my credit card because I do most of my shopping online these days and I haven't figured out how to insert a dollar bill into my computer, but my card is paid off in full every month. I even paid cash for my car when I bought it six years ago. I think this consumption obsession is an off-shoot of the “I deserve it” mentality that so many of us grew up with. Why SHOULDN’T the bank give you credit when you’re so very deserving of having anything you like? Why SHOULDN’T you buy that third flatscreen if you want it? I think that’s part of what makes it so hard to reign in–we’re so much in the habit of wanting to get ourselves and our kids whatever our hearts desire and the banks make it so easy.

Oh, and about the internet? It makes comparison shopping effortless, but it also makes impulse-shopping sooooo much easier. It’s like playing with fire–a great tool to use, but easy to get burned!

That said, I do use my credit card because I do most of my shopping online these days and I haven’t figured out how to insert a dollar bill into my computer, but my card is paid off in full every month. I even paid cash for my car when I bought it six years ago.

]]> By: Credit Card Debt On Credit Speak » America and the Culture of Debt http://www.straightnorth.com/blog/america-culture-of-debt/comment-page-1/#comment-1247 Credit Card Debt On Credit Speak » America and the Culture of Debt Thu, 03 Apr 2008 13:29:07 +0000 http://www.wordsellinc.com/blog/marketing/america-culture-of-debt/#comment-1247 [...] America and the Culture of Debt People snap up automobiles and furniture on credit, usually at low or no interest. In the case of furniture, buyers have as much as a year before the first payment is due. Young people rack up thousands of dollars of credit card debt, … [...] [...] America and the Culture of Debt People snap up automobiles and furniture on credit, usually at low or no interest. In the case of furniture, buyers have as much as a year before the first payment is due. Young people rack up thousands of dollars of credit card debt, … [...]

]]> By: Brad Shorr http://www.straightnorth.com/blog/america-culture-of-debt/comment-page-1/#comment-1246 Brad Shorr Thu, 03 Apr 2008 13:27:32 +0000 http://www.wordsellinc.com/blog/marketing/america-culture-of-debt/#comment-1246 You've been way ahead of the curve on this topic, Bob. I hope people read your comment here and follow your lead. You’ve been way ahead of the curve on this topic, Bob. I hope people read your comment here and follow your lead.

]]> By: Robert Hruzek http://www.straightnorth.com/blog/america-culture-of-debt/comment-page-1/#comment-1245 Robert Hruzek Thu, 03 Apr 2008 12:53:24 +0000 http://www.wordsellinc.com/blog/marketing/america-culture-of-debt/#comment-1245 Amen and amen, Brad! Mrs. MZM and I made the decision just prior to marriage (26 years ago this May - hoo-ah!) to live completely debt free. And by that I mean we never owed more than we could pay back at that moment (with one significant exception). There's been only two things we've ever borrowed money on, cars or houses. In the case of a car, we always paid at least half or more down, and always had more in the bank than was owed at any given time. In the case of the house, well, not too many people can pay cash for a house unless they've built up one heckuvan equity over time. So we make sure we owe less than it's worth. That's the key. If a fast sale were ever needed, we wouldn't be out of the house while still owing money on it! We've always used one credit card for most purchases, simply because of the buyer's protection it provides, and (this is vital!) we pay it off <i>every single month</i>, no exceptions. These techniques helped us weather a <i>four-year</i> period of unemployment (yep; you read it right!), because our debts we so low we had enough to survive (and prosper). Amen and amen, Brad!

Mrs. MZM and I made the decision just prior to marriage (26 years ago this May – hoo-ah!) to live completely debt free. And by that I mean we never owed more than we could pay back at that moment (with one significant exception).

There’s been only two things we’ve ever borrowed money on, cars or houses. In the case of a car, we always paid at least half or more down, and always had more in the bank than was owed at any given time.

In the case of the house, well, not too many people can pay cash for a house unless they’ve built up one heckuvan equity over time. So we make sure we owe less than it’s worth. That’s the key. If a fast sale were ever needed, we wouldn’t be out of the house while still owing money on it!

We’ve always used one credit card for most purchases, simply because of the buyer’s protection it provides, and (this is vital!) we pay it off every single month, no exceptions.

These techniques helped us weather a four-year period of unemployment (yep; you read it right!), because our debts we so low we had enough to survive (and prosper).

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