Bad Credit Crisis
With all of the hype out there in this world today, there is a lot of pressure to have the biggest and the best. You know the old saying, “Keeping up with the Joneses”. When you see television commercials that have, “ACT NOW!”, 0% FINANCING!”, you say to yourself, “Wow, I think that I can have that.” or “I think that is do-able.”
Well, In most cases, the answer to that question is going to be a no, you cannot afford it. I think that the American people are just as at fault for the catastrophic mess that the country is enveloped in as the lending companies that are always blamed. i grew up in a family that always bought quality merchandise. My parents philosophy was that you always get what you pay for. Meaning, if you buy something on the cheap, then it is obviously not going to last long. I think that most people have that same ideology, but the reasons are a bit skewed. Its more used for showing off to the neighborhood of what you have, then actually doing it for economic reasons. My mother always had a good formula to combat impulse purchasing. Give your self twenty four hours, and if you still want/need it , go and get it.
Most of the time, people would like to say woe is me, and it’ s not my fault for the situation I’m in. People are always trying to make excuses on why it was out of their control. In some instances, people have there identity stolen. In this case, it would be very unfortunate for the individual. In most cases, companies will advise you that your identity has been compromised, and they will offer free credit monitoring for you on your behalf.
All in all, your credit is all up to you. It is your responsibility to be mature and pay your bills on time and come up with a budget with all of your expenses in mind. It is easy to get caught up in the “hype” of the glitz and glamor of the world we live in. Peel back that very thin silver lining, and all you get is empty promises.