Since my backgound is in financial services, I will be speaking from a financial perspective. I am very concerned as are most people are, about the state of the economy. As a nation we are suffering from the consquences of having too much debt. Did anyone ever think that this attitude would catch up to us at some point in time?
I am hoping that someone has the answer to this problem. We have to manage the debt that we have in this country. Not only has it affected this country, but it has affected other countries as well. Debt has become a way of life for us. The only way to reduce or eliminate it is to stop desiring the things that would lead to living a lavish lifestyle. This is going to take some discipline. We’ll be suffering from withdrawal symptoms, but the longer we subject ourselves to this process, the easier it will be to say “no” to more spending.
Children should be educated on handling debt and using credit cards responsibly. Ideally, they should not be approached by the banks unless they understand the responsibilities that go along with using them. However, there are reports that the banks are targeting teens as well as college students about their services.
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