Simple Minded Society II

A New Need for Responsibility

My good friend Brad commented on a previous post of mine about that for some people spending for a short-term gratification (his example electronics equipment) is a more admirable attribute than saving for a longer-term goal (starting a family business). This is what our society has become. I therefore am a mutant.

When asked what I want for a present I will say “cash”, because I will save it. Or if I find some money that I did not know I had, maybe in my winter coat, I will put that money toward the home mortgage. And because of this I have been accused of “not being very fun”.

I have taught several classes on personal finance in Churches that I have previously attended. I have also been a lending officer at a bank for several years. It no longer amazes me to see people with $40,000 or $50,000 in credit card debt. May of these people make good incomes, yet have nothing to show for it.

I also remember a few months ago when the bankruptcy laws was changed (thus making it harder to declare bankruptcy) and listening to people complain. Complain about what? That they would be held accountable for their spending. Imagine that.

Yes, I realize that credit card companies charge fee and interest rates. But that is how those companies make money. Don't you charge a fee in exchange for your time you spend working a job?

There is no requirement that you have to use credit cards. The human race existed before the invention of credit cards. You can survive without them.

The problem is that we are not taught how to use money. My degree is in accounting. I was taught how to "do the books" for a Fortune 500 company but I was never taught how to balance my check book. In high school, my useless counsler kept telling me that I could make a "lot of money" at this job or doing that job. But I was never asked "what job would you be happy doing". Instead we are taught that we should practice impulse buying, live for today with do concern for tomorrow.

Comments

[Brad Spangler]

Just to clarify, the long term goal would be the more admirable goal in my own personal opinion.

[Joe]

For the record, there are no fees if a person pays off their credit card account in full every month, obeys the card agreement and does not make purchases over seas.

Lastly we make most of our money off the transactions that are made at stores. We charge the merchant bank x amount of percent to for the transaction.

[mycbrad]

You might enjoy the discussion I opened on my Xanga. Very apologetics WITHIN the church.