Dear writer of the article: how old are you? I have worked for 28 years in
part time work on and off depending on what the duration of the job was.
Acquiring credit card debt is not limited to just one month - if is cumlative.
Each time a person tries to fix the problem, along comes another problem
(life's little problems - rent, utilities, food, etc) If a person works a
40 hour week at 8.00 = 320 x 4.5 = 1440, half of that is 720. Try living on
that. Then there is the problem of the job being only for a short time = equals
no income. It is not a matter of planning for retirement, it is a matter of a
steady income. Are you aware that the Federal Govt passed a law stating that if
a person works 1/2 of the full time, that no benefits need be paid.So,
what happens, employers, including all govts, employ 6 month employers. Viola -
no benefits need be paid.
We limit ourselves to one credit card and pay it off in full every month.
Prescriptions charges are our greatest expense outside mortgage/utilities. Do
everything you can to get out of debt. Listen to Dave Ramsey in the evening on
the radio to get inspired. Even though the feds and the president/his
family/vacations, etc. are not cutting back, we must. Any extra money should go
into savings, food storage, and emergency preparedness items. We don't take
expensive vacations any more. We get gift cards to our favorite restaurant in
lieu of gifts we don't necessarily need at Christmas and birthday times.
"Make it do, use it up, and wear it out" as my mother used
Jay is wrong again. The savings rate is climbing far faster than debt. The
savings/debt ratio is righting itself as it naturally does, particularly among
young people who now have the lowest credit-card debt load in 30 years.
Take a step out of line. Don't take another step toward that cash register.
I thought people were saving more.Are both happening, Jay.
People who rack up personal debt by choice are one thing. Irresponsible
"representatives" who waste our money on a spending spree of record
proportion (today's understatement) are quite another. If a person is fool
enough to get into more debt than they can handle, they should suffer the
consequences. If politicians spend more than they (we) can ever conceivably
repay, THEY should suffer. But in this case, it's WE who suffer, and they
just go on spending. It might be unbelievably painful when the piper does come
calling, however. But will there be anything left of the country by then?
This is impossible. /sarcasmDemocrats passed financial reform and
we were promised these predatory lenders were going to be held to account and
people were going to be able to get ahead/out of debt.What a
shocker. The next question is why do they have all the debt?
Because the economy stinks despite hope and change for 4 years and six speeches
saying "jobs is my #1 priority".The reality is that this is
the new reality and that is everyones standard of living is going to decline.
My healthcare costs nearly doubled this year and I work for a
Fortune 500 company. Gone is the 80-20 plan and in with basically a
catastrophic plan where I pay $4800 in premiums and I get to pay the first $5000
out of pocket before I get any coverage. Sweet.We have so much to
look forward to with all the great legislation that has been passed.I'm sure it will be even better next year./sarcasm
Young or old the only way to beat the credit card industry is to pay off the
full balance every month. And then they have a label for you. They call you a