O.K this is it!!! … how can people hope to get ahead when this is happening.
Two months ago the level broke 27 billion dollars now it is 28.2 billion and xmas hasn’t hit full on yet.
I predict the head lines in Jan/05 to say 30 billion. The solution is easy, cut them up!!!!
This is a major problem with our education in this country regarding the wisdom of money. I guess there will be more renters in the future which is good for us, however there are many negative flow ons from this GREDIT lending.
What do you think??? …. confused Phil [tired]
Phil,
If everyone was a prudent investor that didn’t overstretch their finances, then where would we find the bargains when times are tough?
Don’t be so hard on the conspicuous consumption types. Its their naivity that funds my retirement. [biggrin]
Cheers,
Michael.Phil, I think the problem is how easy it is to get these cards. On my new mortgage being set up, we are going to be given a $5000 limit credit card. Our current card has only a $2000 limit, so we are going to cut one up of the 5k and freeze the other 5k card in a block of ice. For emergencies… I doubt we will use it though coz we have been there and had a CC maxed out at $5000 and it wasn’t a nice feeling. We swore we would never do it again.
If credit companies stop thowing them at people, or make them a fair bit harder to get hold of. I also think a little bit more education on budgeting in the high school years wouldn’t be so bad either.
Final day today at school!!! WOohoo! Teachers only. No kiddies… Thank god!!!
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
Steph, i’ll send you my twin (9yrs) girls over, do you teach any of these challenging types???
My kids are great but my wifes a mess ha ha
Phil
Is’nt it funny that the people in debt are the biggest wingers[confused2]and the ones trying to get out of the rat race are helping others do the same [rambo2]
Resiwealth
Like your last comment. It so often seems to be so, so true.Steph,
Woohoo indeed! Today’s my last day at work too so I probably won’t be posting for a while. I’m off to the Whitsunday’s and my yacht doesn’t have internet access… [biggrin]
So, everybody have a great XMas and New Year and I’ll catch you all in 2005!
Merry Christmas!!
Signing off,
Michael.[xmas] [xmas] [xmas] [xmas]
PS. Phil, I like your last comment too. I think you’re spot on. I guess financial abundance tends to follow emotional and intellectual abundance…
Yep Phil!
I got one twin in my class, the other in the other year 4 class. I have also taught one of a triplet!Thankfully, haven’t had a set in the one class as they are pretty much always spilt up.
Cool.
Have a great Holiday Michael.
Steph.Success is 1% inspiration and 99% perspiration.
Looking at the figure it wasn’t as bad as I thought. That’s about $1400 per person. I know many people use them to pay things like insurances, phone bills, car rego etc and they pay by due date. I know many don’t but this figures I presume is the total amount used on credit cards in the recent months?? It’s fair to say that big portion are paid by due date. I would think the amount not paid by due date is a lot smaller. The concern is if this figure reflects borrowing pattern for other things like nice cars etc, that will be quite alarming.
As always some people say easy credit is bad and others is good. I can see why the agreements about credit being bad are very valid, but had not easy credit been avalible well then I couldn’t of done all I have…. In the end it comes down to the user and their level of finacial education (and never in the history of mankind has their been so much finacial knowledge and information at peoples fingertips).
Rgds.
Lucifer_au
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