OK... I"m about to get all passionate and perhaps even overbearing... so please bear with me! :) This is purely my opinion from my own experiences and lessons through my life this far. I'm no financial expert... this is all based purely on my own thoughts and opinion.
Now I'm one that is usually pretty easy going.. not much phases me... but when things do phase me... well they usually phase me in a HUGE, passionate, overwhelming way!!
Credit and Banks are such things that REALLY affect me!!
And the latest world financial crisis has just affected me even more to the point where I've just recently decided it's time I spoke my mind on this blog platform of mine!
First...
please, please, please... take the time to watch this fantastic video that manages to explain the latest US financial mortgage crisis in such a clear, easy to understand way for everybody to easily & clearly understand it!!
Moral of this brilliant video - Do Not buy a house OR get any Credit/Loans.... when we KNOW we cannot afford it.
Moral to Big businesses/banks/organisations...... don't sell houses or Credit to those you KNOW cannot afford it!!! (and we all know you're doing it... not sure how you live with yourselves... oh that's right... you just spend the money you earned from it to buy something to take your mind of it!!)
I've decided to send a plea out to the universe via this blog right here and now.....
Please... it's time for everyone to realise that credit doesn't only affect yourself and your family directly.. it affects our whole community and economy!
I saw it happen to an old neighbour of ours... in a block of flats Luke and I lived in years back.... they were easily conned into getting a home in a 'so called' suburbia dreamscape, a new residential estate (you know the one's where the houses all look the same, where happy people on bikes ride around man made lakes) with one of those 'too good to be true' house deals... no deposit... no re-payments for a year... all that garbage!!
They lost EVERYTHING including their marriage! Came out backwards with far less than they went in with! Just devastating!!
I'll admit... I've had many a day since having my son and starting my business where I've thought that a credit card would be fantastic... I've even come close to filling out an application... because it would just make things so much easier then and there... take a bit of the stress or pressure off... let me buy that big ticket item for my business that I can't pay for at that moment.
But then I realise... in the long run it will only double/triple/quadruple the stress and pressure when I can't pay it back and when the interest just keeps getting heaped on!
I'm so very very thankful for learning my lesson early in life when I was a teenager (by making the stupid mistake of maxing out my credit card when only 19 years old and having to pay it back for years afterward).
You see money burns a whole in my pocket... If I've got it... I pretty much always spend it on things I'm sure we/I need (when in reality we could make do without). I enjoy shopping many a time (not clothes shopping though... more like craft, stationery & art shopping) .. and I come away from buying for others always feeling fabulous. So I know that I should not have a credit card cause I'd get us into all sorts of financial debt no doubt!
I've heard other people kid themselves by saying having a credit card is for security... for when the water heater breaks or the car breaks down... they say having it there is a lifesaver? Well that's all well and good for the credit card Superheroes who never use it unless it's an emergency or are somehow able to pay back their credit superfast, while paying hardly any interest, if any at all...
But we know ourselves ... don't we? :) If you're like me (which I'm pretty sure so many of your are) ... then you'll find a way to make it ok in your head ... usually spending some of the cash burning a hole in your pocket before handing it over as a credit card payment... or by telling yourself it's ok to buy that gorgeous shiny thing on said credit card that you hadn't budgeted for... just because you can! And let's not even talk about having to go shopping to buy something shiny and new because it makes us feel good inside and let's us get through the day not thinking about the darkness in this world of ours... no.... we won't go there... will we??!! ;)
So of course.... payments to the credit company become less than expected/budgeted... therefore the interest increases.... And the cycle begins!!
Then not only will we heap on the debt.. but then there's the guilt and shame of having that debt that we have to then carry on our shoulders!
Credit is NOT and will NOT ever be the answer!! It's the answer for all the really rich people and banks... not because they have credit but cause they're making a fortune from us by selling it to us and making us the believe that credit is the way to go for everyone!!
Lets think about the future of ourselves... our children... our country and then think about cutting up those cards and getting used to not buying things whenever we like. Get used to knowing that if we run out of money for the week/month then we've run out of money and then we have to make do...which will most likely stop ourselves from running out of money next time!
The banks aren't going to do it for us... if we think they're not going to give us a loan or card if we couldn't possibly afford it... think again!!
To those that are already money and credit sensible... I say ... give yourselves a huge pat on the back... cause there aint many of you.
Thanks for letting me have a vent!...
I feel so much better now :)