It happens. You are walking down the street and you look up and there it is, the holy grail of all electronics and you…have… to have it. What? No money. No problem. They will sign you up for an in-store credit card. Payments will be low, interest will be high. And yes, they can deliver it today.
That’s the tried and true story of life in pursuit of the “American Way.” Lots of purchases on credit, lots of stuff crowding our homes, lots of debt we can’t ever pay in our entire lifetimes. But isn’t that the way things are meant to be? For some crazy reason Americans love to buy on credit. We continue to make purchase after purchase we can’t afford and then it happens, and one day we wake up in a complete financial crisis, paralyzed by debt and fear and unsure of what we can do to remedy the situation. (more…)