The Secret to Why Credit Cards Have Us by the Short Hairs

Have you have read The Laws of Money: The Lessons of Life by Suzie Orman. If you haven’t, I would suggest that you do.

I remember when I was growing up and the only loans that my parents had were for cars and their house. They had a credit card but it was only used for emergencies.Credit Card Debt

Everything else was paid out of my dad’s paycheck or my mom and dad would put money away and save the money and only then would purchase new furniture or even go on vacation.

We have gotten used to credit card debt. Why? I suspect, as does Ms. Orman, that it has everything to do with our need for instant gratification. We want it now and we don’t want to wait. Even though we don’t have the money, we rationalize our purchases.

Perhaps the lessons of our parents were right. We may be old fashioned, but it’s hard to get yourself into financial difficulty if you live within your means.

 

Leave a Reply