A Culture of Debt

I have always been very careful about money because my parents got into all sorts of terrible debt in the past. They felt compelled to show everybody how well they were doing but really they were living off their credit cards. I don't know why they were like that but I know that they aren't alone in their plight.

I think it all began when my dad started to do well in his job. He kept getting promoted and as he would get higher up the ladder he would be surrounded by people who had fancy cars and seemed to "have it all." My dad didn't want to get left out which is why he started taking out loans for just about everything you can imagine.

There has been a culture of thinking that debt is OK. Oh, so you need a break and want to stay at a fancy hotel? No problem, just take out a loan. It's as easy as pie. It's only a small amount every month in repayments. But then what you don't realize is that all these small payments add up and before you know it you're paying out more than you earn.

At least this has taught me a lesson. It's very scary to be getting demands of repayment via the post and also by phone. We've even had people turn up at the door! I don't really care about fancy things now-a-days. I simply just want a stress-free life. Even if that means my clothes get a bit old and tired or my car isn't as stylish as it once was.