It starts with college. I can't help but wonder though, how many of those
that claim they struggle have cable TV, the newest IPhone, etc...
I see the debt issue with college loans. Many times the employment does not
cover all the basics plus pay the loans. Not everyone starts out with the
$60,000 plus pay that was advertized in the brochure. Married students attend
college on government help, become accustomed to food stamps, WIC, housing
subsidies, Pell grants, loans, etc. Then, they may purchase a home after
college, only to find out they don't have any more usable money than they
had while in college. Lifestyle really has not improved. The trouble starts
when they think with a degree all will be rosy, then when it isn't, the
bills come due for the furniture, schools loans, house repairs, medical, credit
cards for the entertainment such as Disneyland. Making up for all those days
living in poverty in college. We have watched this cycle with our own children.
They beg us for the necessities such as shoes for their children. Do they go
without Disneyland? No. They spend all the money they receive off their tax
return for entertainment, rather than pay off debt. We hope they learn soon to
prioritize debt payment.
The consequence of debt is you don't have enough to meet regular expenses
with the additional burden of interest. The reason for acquiring debt in the
first place, you don't have enough to meet expenses. Can't
squeeze blood from a turnip. If they don't make the car payment they will
repossess the car and then they can't get to work and then they will be
hungry. I am sure these parents shuffle the bills and get creative. Still would
mark time it's tough provide for basic needs. Still may have to frequent
the local food bank.
Feed your children before paying the debt then start little by little to pay
things off. Don't be bullied by collectors. Cut up all credit cards and
don't walk into the payday loan vampires as said by Mark B. Also, just a
side bar. I'm not sure most American's really know what poverty can
be. Try living in South America where there is no such thing as welfare or any
sort of soup kitchen. You work or you don't eat.
Somewhere along the line Ted became a bitter, bitter person, and he wants
everyone else to be bitter, too. It could be worse, my friend. At least we
didn't get lied into a new war/occupation. And the article, BTW, is meant
to simply tell people to stay out of debt. Let's start by closing down the
"payday loan" vampires.
But our president keeps telling us things could be worse without him. Thank
goodness for his leadership! Remember how much worse the economy would have
been, if he didn't give away $3 Trillion to other nations? Remember how
much worse we would be if he didn't allow more illegals to come here.
Remember how much worse off we would be without michelles organic garden at the
white house. Remember how much worse off we would be without 3 new buses for the
president (made in canada). Remember how much worse off we would be if he
didn't take over banks, auto industry, stopped drilling, apologize for
America's greatness and exceptionalism. Remember how much worse off we
would be if he showed his birth certificate or college transcripts or stopped
dividing the nation. Remember we would be worse off if he didn't slander
successful people and give the go ahead to the doj to prosecute anyone that
didn't look like him.