It is another Friday evening and as always I had my candle light ritual. Many thoughts came to my mind, but then one thought was more important than others. Basically there are many people who pay some of their daily expenses with new debt (often credit cards). We have discussed high food prices, credit cards and many other matters in the past two months here on the forum. I found one good YouTube video addressing this particular issue in quite detail and so I stop writing and I just post this video. You may have some thoughts you may want to share.
I slept a few hours but then I woke up. Thoughts came to my mind. Basically many people currently may have the cashflow problem. Their incoming cash is not enough to cover all expenses and so they need to use savings or take new debt. Credit cards are the easy way to cover any extra-expenses caused by inflation or other reasons. I made some coffee and it is already 3:50 am and so I am not going to sleep any longer. I like to think when it is dark and so quiet.
I have been using afterpay as I don’t have credit cards or a line of credit. It just helps me so I don’t have to save up the whole amount…you pay basically 1/4 up front then pay off the rest in two week periods. I am always ahead of the payments but it’s so handy to get things like my weights quicker rather than saving up the whole amount.
I only use my credit cards for emergencies…if I can’t buy something with cash or my debit card, it doesn’t get bought. And when I do use a credit card I try to pay it off the same month…but it’s been getting harder with the current inflation that’s making EVERYTHING more expensive. I’m just thankful I have a roof over my head and a vehicle to use, I don’t have a lot of other expenses except for food.
Not too long ago a guy came charging out of the bank a Walmart and asked me, of all people, if I wanted a thousand dollar line of credit. The consumer debt scares me more than the government debt. I think they ought to hold the banks accountable for predatory lending.
