Have you heard the latest news that credit card debt has doubled from the past couple of years in looking at the latest economic numbers? Could it be that most people feel comfortable in spending mpw? Many are becoming comfortable with spending after coming through the toughest financial setback in the United States history. This is good and bad. The good news – there is no longer fear in spending.
Spending helps the economy to move foward. Spending spurs jobs. Spending helps products move off the shelf and as a result lower prices at the registers and pumps. You can’t deny spending is good. It is taking longer than expected to move out of this financial stranglehold looking at the latest unemployment numbers. Unemployment decreased .4%. for the second month in a row. This tells me that the economic recovery has not taken effect in every household. But those who can spend will spend.
Let’s look at the downside of doubling credit card debt. Many people are still out of work. The economic recovery has not been restored in every major U.S. cities.The prices on the shelf have not come down. So we are in a dilemma. The dilemma is that we may not have fully learned our lessons from the past couple of years. I am not saying it is ok to spend but to double credit card debt tells me we don’t have the money to buy. Are we are going back to the days where we used the plastic to pay for stuff? The plastic became our best friend and it became hard to part with it. We cannot let the plastic led us into debt again. The plastic revealed our financial inadequacies during the collapse. In some cases it truly revealed our net worth. Whatever ways that you use to limit the use of plastic during the financial collapse, continue to use it. The plastic does not care about your disposable income. It wants you to have it all for yourself. Decide today to limit your plastic use. Believe me your disposable income will thank you.