Shiny Red Pickup Syndrome

[Walt34]

Quote:

Originally Posted by rayinpenn You right I am. apologies ... I work in the CC industry and see overspending everyday and it still shocks and saddens me.

I saw it mostly with people I worked with at the last job. A couple were multi-millionaires (why they were working I have no clue) but there was only one other who like me had zero debt. Most had at least some cc debt and at least a few were up to their eyeballs in it.

One was a sad story. His wife, a hairdresser, had run up $40k in cc debt. To get out from under the interest rates they refinanced the house and paid it off. Then she did it again!

Another guy had six checking accounts. The best explanation we could come up with for that was that he was kiting checks to himself. He was always carrying the pack of checkbooks and bills and would work on that stuff when he was relieving someone for meal breaks. But he had the shiny new pickup truck.

[athena53]

Quote:

Originally Posted by Walt34 Another guy had six checking accounts. The best explanation we could come up with for that was that he was kiting checks to himself. He was always carrying the pack of checkbooks and bills and would work on that stuff when he was relieving someone for meal breaks. But he had the shiny new pickup truck.

And just wait till the price of gas goes up again- and it will. The newspapers and Web sites will be full of sad stories of people struggling to pay the steeper costs of commuting in their gas-guzzling truck/SUV. Why, how could you expect them to know that the price of gas would go up after they bought their vehicle?