Just Say No to Credit Cards
Welcome back!
According to a recent story in US News, Americans are starting to turn their back on credit cards. Many are forsaking the plastic god that has been sustaining them and are beginning to draw down the rampant consumerism that has created the situation we’re in now.
It’s a shame that the credit crunch was needed at all to teach us that our habits were going to destroy us. Millions have had to suffer unnecessarily.
We’re pretty much against credit cards here at Austerity blog. Though, we aren’t opposed to all forms of debt. We have long believed, and have experienced for ourselves, that the credit card companies are not your friend.
They want you to spend as much money as possible and the minute you slip up, they have your balls in a vice. They laugh all the way to bank as you write that check that seems to get bigger and bigger every month.
While this contraction in spending and reduction in credit usage will, and is, harming the economy, I think that in the long run, the economy will be stronger. This entire society is based on debt and that is unsustainable as an economic system. The recent problems are proving that.
So, what’s the hapless consumer to do? Be responsible and always be prepared for an economic downturn. If you apply the principles of austerity during times of plenty, you’ll be prepared for the downtimes and the downtimes won’t seem so bad, because you are already used to living austerely.
Just Say No to Credit Cards.
That’s our official advice to everyone. I don’t care if you are one of those people that think they are using them responsibly and taking advantage of the credit card companies by their rewards systems. They are taking advantage of you. And when you slip up, they won’t hesitate to punish you.
Like most vices in life, credit cards should generally be avoided.
Austere Back to School Tips
This can be a very expensive time for families as kids go back to school and they need all the accoutrements that go with that.
A major problem that parents face is that often kids don’t know the difference between needs and wants. They don’t think anything of thinking they need the newest clothes and most expensive school supplies.
It’s the job of the parent to reign them in and teach them the values of austerity and to clarify needs and wants. This can be extraordinarily difficult with children, whom generally don’t respond well to reason. This is why one must be the parent in the relationship.
I won’t pretend to be an expert in parenting. My wife and I are waiting to have kids until we can afford it. Which is what many people in this country don’t do. They have kids left and right and don’t think it through. We have decided to buck the trend and put money away first, before they come along.
One of the main philosophical tenants of this blog is to deny yourself until you’ve earned it. And we have not earned children yet. To save and plan for something you really want makes it all the more rewarding when you stop denying yourself.
I bring this subject up because there have been many articles in various news outlets about parents becoming more frugal this fall because of the tough economy. Essentially, hand-me-downs are back in as is shopping at thrift stores. Parents are also seeking ways to get their school supplies cheaper.
Keep in mind, if you’re shopping for your kids, that there is always somewhere where you can buy something cheaper. Walmart generally has the cheapest of everything but they’re not the only place for a deal. While some people hate Walmart, it’s not a bad place for a deal and in the future we’ll be talking about the virtues of Walmart.
Times are tough and the retailers know this. They are tripping over themselves to provide you the best back to school deals. It’s your job as an austere consumer and responsible parent to take them up on it.
