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.
