Quote:
Originally Posted by pctec
...If the greedy banks want to lend money to people who have no means to pay it back then there is going to a problem sooner than later...
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That's my point.
If kids were taught to not live beyond their means then they wouldn't get hooked on living on credit.
The lending companies don't care:
-they are in the business of lending to make money
-they will just take that car/home/boat/whatever back, leaving you with nothing.
-If it's an overextended credit card, they will ruin your credit rating and it will take you a long time to straighten out/fix.
What ever happened to saving up for what you want? If you are willing to do without to get something then it has more value to you personally. It won't be an impulse/whim purchase. You will have actually had to work at it to get it.