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Old 10-07-2007, 02:52 PM
 
5,090 posts, read 9,634,400 times
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Quote:
Originally Posted by 8 SNAKE View Post
I am sure that there are people who are living on credit just to get by, but I don't think it's the majority of people in credit card debt. We'll never see the breakdown of credit card statements, but I'd bet my paycheck that groceries, fuel and utilities make up a small portion of the items that people are charging.
That is a very interesting concept that I would think we can be fairly certain is being tracked in extensive detail -- ie, who buys what, when and where and pays how much.

All that data is right there for the tracking on every CC statement of millions and millions of US'ns.

But I think you are correct that general information is not going to be easily shared.

Might seem strange but those items -- food, fuel, utilities, (and materials and insurance on my business lines) are the ONLY things my statements.
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Old 10-07-2007, 03:10 PM
 
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Quote:
Originally Posted by Hawkeye48 View Post
I realize many people are using credit to purchase big ticket items like plasma screen TVs, but what's really sad it that many people are now using credit cards to pay for basic items like food and utilities. For many people like these, they are way past living paycheck to paycheck, and are so overloaded with debt they're close to foreclosure and bankruptcy.

Sometimes I wonder if our whole economy is built on a house of cards.
Me and my fiance argue constantly over credit crds. I've lived for years without them, and simply got rid of them to get out of debt, (amazing how little debt you can carry without chargecards, and how much you actually save by not paying interest). Just recently started to get a few cards for the sole purpose of building credit. I've put everything from gas to food on them, but ONLY for thesold purpose of tracking expenses, and rarely do we every carry a balance. If its not credit cards I'm using, its debit cards, usually with a cash back offer at that..

She on the otherhand, does not mind carrying debt, and she tries to carry a lot of it.. Live for today, because you know our dollar is good today, never know about tomorrow.

Only time will tell who's correct but I'm betting all my debt (i.e. none) against hers..
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Old 10-07-2007, 03:41 PM
 
Location: Northern California
3,661 posts, read 12,879,651 times
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Quote:
Originally Posted by oktaren View Post
The entire credit industry, along with insurance, is the root of all that is wrong!
Don't blame the credit industry for people going into debt. They're not holding a gun to the heads of people making them go out and spend on stuff they probably don't need. People have to reign in their spending for themselves.
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Old 10-07-2007, 03:45 PM
 
Location: southern california
55,237 posts, read 72,673,829 times
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Quote:
Originally Posted by baystater View Post
Consumer borrowing up sharply in August - Yahoo! News (broken link)

Is anyone as concerned that people are increasing relying on credit cards to buy more items. I just don't get the mentality of "So I pulled all my equity out of my home that I can, but I still want to buy stuff." "So I'll put on my credit card and worry about it later."

Maybe I'm missing something. But is this just me or are we really just digging our own graves with this mentality?
you are so right. i love dave ramsey new radio talk host for auterity in american.
look him up on the internet. he talks and thinks like you.
stephen s
san diego ca
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Old 10-07-2007, 04:33 PM
 
87 posts, read 338,953 times
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Default I believe you're right!

Quote:
Originally Posted by goodbyehollywood View Post
The journalist askme was referring to sounds like MP Dunleavey. She writes a regular column for MSN and recently gave up the expensive Manhattan lifestyle to move her family to a small town in rural NY. She writes about budgeting, getting out of debt and making drastic moves to live within your means. You can find her columns at msn.com. Hope this helps!
Yeah, I do remember it was this chick at MSN. Thanks so much!
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Old 10-08-2007, 09:40 AM
 
Location: Southwest Missouri
1,921 posts, read 5,566,512 times
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Quote:
Originally Posted by pghquest View Post
Me and my fiance argue constantly over credit crds.
Not to drag this off topic, but I would highly recommend the two of you come up with a financial plan before you get married and stick to it. The last thing you want to bring into a new marriage is a financial strain.
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Old 10-08-2007, 09:44 AM
 
Location: Southwest Missouri
1,921 posts, read 5,566,512 times
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Quote:
Originally Posted by GreenMachine View Post
Everyone,

Where do you think this "culture" of consumerism derives from? Large corporations do an outstanding job of making us think we need these things. Just turn on your television and what do you see? We need to be beautiful. We need to drive expensive cars. We need this. We need that... We are being brainwashed by corporate america...

Greenie
When did people stop becoming accountable for their own actions?

It's very easy to point fingers and pretend that "Corporate America" is brainwashing the masses. It's much harder to ask people to stand up and take responsibility for the choices that they've made.
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Old 10-08-2007, 11:12 AM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,089,163 times
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Quote:
Originally Posted by 8 SNAKE View Post
When did people stop becoming accountable for their own actions?

It's very easy to point fingers and pretend that "Corporate America" is brainwashing the masses. It's much harder to ask people to stand up and take responsibility for the choices that they've made.
8 Snake,

It's a little of both, really. But it is difficult not to be influenced by one's culture. If you think you're immune, try moving to another country and see how different you really are!!

I know that Bloomingdales is a weakness for me. That company has done an amazing job planning these "sales" to incent people to spend more money. For example, the last sale was 25% off shoes if you buy two pairs and an additional $25 off if the total amount is over $100. Plus, you get $15 certificates to come back and spend on more shoes once the sales is over. Next thing I know, I'm buying four pairs of shoes !!!! I returned them all later of course, but I was really under the spell...

Greenie
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Old 10-08-2007, 11:16 AM
 
Location: Southwest Missouri
1,921 posts, read 5,566,512 times
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Quote:
Originally Posted by GreenMachine View Post
8 Snake,

It's a little of both, really. But it is difficult not to be influenced by one's culture. If you think you're immune, try moving to another country and see how different you really are!!
I don't dispute the notion that people are influenced by their culture. It just seems to be a growing trend for people to place blame rather than accept responsibility for their situations.
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Old 10-08-2007, 11:37 AM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,089,163 times
Reputation: 692
Quote:
Originally Posted by 8 SNAKE View Post
I don't dispute the notion that people are influenced by their culture. It just seems to be a growing trend for people to place blame rather than accept responsibility for their situations.
Which is why I returned those shoes I bought at Bloomingdales. I can't blame Bloomingdales for my budget problems. I had to take some responsibility.

Greenie
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