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Man, I am an '82er and I def don't fit into the '85 or before crowd then. I do own a house, very cheap starter house. I do own two cars, both mpayed for with cash.
I feel the "get out the credit cards" mentality is stupid, IMO. That is what is causing the slump we are in now. In the 90's and early 00's everyone got out the credit card to buy all that "crap." Well, now they find out they can't afford that crap and no one is buying anything.
I am a PROUD coupon clipping, debt paying, living on what I can pay cash for and I see that as a strength for our economy in the years to come. Money coming in is going to be spent, all these "youngins" aren't saving up the money they make to live in a crappy place with 2 other guys, they are putting it somewhere. Either they aree paying off debt from school, BEST thing you can do with you money is pay of debt. People don't get rich and stay rich running up credit cards.
Best guy to listen to is Dave Ramsey. America is getting into trouble because it is buy now pay later, why can't you buy later and make sure you are set financially to afford it. If you have to buy a TV and get charged an extra 50-100 bucks in interest and not use it to buy moore stuff instead of wasting it on nothing. If people could spend 100% of their money on products instead of throwing it into the air then we wouldn't be having the morgage crisis we have now.
We are living on an imaginary bubble of an economy because we buy crap we cannot afford. Just wait for the bubble to burst even worse than it had in the past.
ACT YOUR WAGE!!!
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