This is a "conservative spender"?

[ziggy29]

Changing credit card terms squeeze consumers - USATODAY.com

From the article:

Spaulding, 40, says he's a conservative spender who got trapped under $70,000 of credit card debt and high finance charges after 15 years of relying on his credit card for emergencies, such as car repairs. In a letter to the Federal Reserve, a bank regulator, Spaulding complained that "credit card companies are the reason why hardworking Americans like myself struggle for years."

Yeah, most "conservative spenders" I know rack up $70,000 in credit card debt. And, of course, the big bad credit card companies held a gun to Spaulding's head and forced him to use the plastic.

 

[haha]

Changing credit card terms squeeze consumers - USATODAY.com

From the article:



Yeah, most "conservative spenders" I know rack up $70,000 in credit card debt. And, of course, the big bad credit card companies held a gun to Spaulding's head and forced him to use the plastic.

Spaulding is an idiot no doubt. But it is also true that credit card companies are an unattractive aspect of our consumer capitalism.

Possibly many of us are just not equipped by evolution to be lied to all day, shown pretty things and sexy situations, then go home and eat our $100 a month food allowance in our frayed jeans and watch our old 19" TVs with rabbit ears.

Ha

 

[W2R]

Yeah, most "conservative spenders" I know rack up $70,000 in credit card debt. And, of course, the big bad credit card companies held a gun to Spaulding's head and forced him to use the plastic.

Well, you know how people are...

 

[lazygood4nothinbum]

just received notice yesterday from my wachovia card on new changes.

"balance transfer fee maximum will increase to $99"

probably not a problem as i don't even know what a balance transfer is.

"the prime rate used for calculating the standard apr for purchases will be no less than 6%, regardless of charges to the prime rate."

as i've always maintained a zero balance, i don't see this as a problem. still, it reverberates a note of panic in banking.

"the standard apr for cash advances...will be no less than 21.15%...regardless of changes to the prime rate."

i've never taken a cash advance on a credit card but i suppose i might one day if i ever for some reason lost my debit atm card. um, 21.15%? isn't that loan sharking? (on my last trip north i did accidentally leave my debit card in an atm machine though fortuately retrieved it when the bank opened the next day.)

"the default apr (including the daily finance charge rates) will not decrease below 29.99% (the minimum default apr), regardless of changes to the prime rate."

i'm pretty sure i'll never be paying 29.99% but still, holy crap. hadn't i read this notice, i'd have lost a bet by a mile if someone asked me what the minimum default rate might be.

"the cash/quasi cash advance fee will be a finance charge of 4% of the cash advanced, but not less than $5"

so if some poor schmo needs $10 to get through the week, he's gonna be charged $5? that my bank would treat anyone like that makes me want to tear up my own card.

anyway, the nonsense goes on. i lost a friendship because i couldn't stand to watch that credit card trainwreck any longer and nothing i said or did seemed to stop it. i take the point on conservative spending. but also i can see someone pretty easily getting sucked into this spiral of a little debt here, more fees there, more charges here, more interest there, more debt here. not good.

 

[Bikerdude]

Spaulding is an idiot no doubt. But it is also true that credit card companies are an unattractive aspect of our consumer capitalism.

Possibly many of us are just not equipped by evolution to be lied to all day, shown pretty things and sexy situations, then go home and eat our $100 a month food allowance in our frayed jeans and watch our old 19" TVs with rabbit ears.

Ha

And when they watch their 19 in TV they see the average sit-com family living a lifestyle that would require a $250,000 income they say, "hey, where's mine".

 

[ziggy29]

And when they watch their 19 in TV they see the average sit-com family living a lifestyle that would require a $250,000 income they say, "hey, where's mine".

Sort of like what we ask when we see just about everyone else getting bailed out...

 

[Bestwifeever]

Bring back the Honeymooners, I say.

I'd hate to see the credit card balances a non-conservative spender runs up.

 

[2soon2tell]

I don't believe in kicking people when they are down but this guy needs to look in the mirror. By refusing to live within his means he faces bankruptcy.

To blame the credit card companies for his misfortune is crazy. Just say no.

 

[Bikerdude]

Bring back the Honeymooners, I say.

Ralph, I think we need a new kitchen set. Why, what's wrong with the one we have Alice?

 

[shoe]

Hey wasn't Spaulding the name of the grandson in Caddyshack? Great movie!

 

[CCdaCE]

Spaulding is an idiot no doubt. But it is also true that credit card companies are an unattractive aspect of our consumer capitalism.

Possibly many of us are just not equipped by evolution to be lied to all day, shown pretty things and sexy situations, then go home and eat our $100 a month food allowance in our frayed jeans and watch our old 19" TVs with rabbit ears.

Ha

And they have to keep watching that ad that says that TV stations are switching to digital so, get yer rabbit ears to digital converter box. 'cause the gummit knows what Americans need... it's digital garbage programming, not analog garbage programming.


-CC

 

[kyounge1956]

And they have to keep watching that ad that says that TV stations are switching to digital so, get yer rabbit ears to digital converter box. 'cause the gummit knows what Americans need... it's digital garbage programming, not analog garbage programming.


-CC

I have a 19" TV but I haven't knuckled under and bought the box yet. I'm going to wait and see if I get the shakes from going without TV (or find that I spend a lot more evenings at my parents' house, they've got a bigger screen and cable). I've been tapering off for years...maybe it's finally time to kick the habit.

 

[Notmuchlonger]

"Spaulding complained that "credit card companies are the reason why hardworking Americans like myself struggle for years.""


Shot tea out my nose. Im getting tired of hearing how its always someone else fault. Ill pile on. This guy is an idiot.

 

[Lusitan]

Possibly many of us are just not equipped by evolution to be lied to all day, shown pretty things and sexy situations, then go home and eat our $100 a month food allowance in our frayed jeans and watch our old 19" TVs with rabbit ears.

Ha

What would evolution say about that?

 

[samclem]

I have a 19" TV but I haven't knuckled under and bought the box yet. I'm going to wait and see if I get the shakes from going without TV (or find that I spend a lot more evenings at my parents' house, they've got a bigger screen and cable). I've been tapering off for years...maybe it's finally time to kick the habit.

Well, you might want to get the gummint coupon and use it to get the (nearly) free converter box just in case you can't stand it. The coupons are available through March 31 2009 or "while supplies last", and I have a feeling they'll go fast once the analog TV screens go blank on 17 Feb.

 

[laurence]

Ditto - idiot.

Have you noticed how T.V. sitcom has changed with regard to lifestyle? Forget honeymooners, Archie Bunker lived a simple life, Alice, Good Times, etc. Then all of a sudden Magnum P.I., Cosby Show, Family Ties, man, everyone was living in mansions and living the high life! Now it's just silly, with the cast of "Friends" living in primo Manhattan apartments even though they are only occasionally employed.

 

[Gumby]

Yet another reason I don't watch TV.

 

[freebird5825]

Equipment: 1 brain, 1 pair scissors, 1 collection of credit cards, 1 mailbox, 1 shredder.
Directions -
1. engage brain.
2. pick up 1 credit card in one hand, scissors in other hand.
3. cut up credit card into tiny little plastic smithereens
4. go to 2 until all cards are destroyed.
5. re-engage brain
6. go to mailbox and retrieve new card offers
7. shred all new credit card offers
8. go to 5

Any questions, Mr. Spaulding?

 

[crazy connie]

DAMN 70K worth of car repairs and emergencies? He could have bought a new car a year for what he pays in interest. It would be an eye popper to see the last couple of years statements on the CC's for all the "poor abused CC [-]users[/-] losers". I would bet there were a lot of toys, dining and fun stuff in addition to the mundane tires and water pumps for an older car. Oh, that's right the average car is 2 years old and costs 24K (that is just my guess!).

 

[lazygood4nothinbum]

Hey wasn't Spaulding the name of the grandson in Caddyshack? Great movie!

funniest line in that was "you scratched my anchor."

YouTube - Funny Ship Accident

found it

 

[Frugality_of_Apathy]

Ditto - idiot.

Have you noticed how T.V. sitcom has changed with regard to lifestyle? Forget honeymooners, Archie Bunker lived a simple life, Alice, Good Times, etc. Then all of a sudden Magnum P.I., Cosby Show, Family Ties, man, everyone was living in mansions and living the high life! Now it's just silly, with the cast of "Friends" living in primo Manhattan apartments even though they are only occasionally employed.

Cosby was supposed to be a doctor married to a lawyer. If you can't afford a decent house on a $300,000+ annual income you're doing something wrong.

Family ties, the mother was an architect and the father managed a television station.

In Friends, the apartment is one of the persons grandmothers rent controlled apartment they are illegally subletting, the other apartment is rented out by a computer analyst during the 90's tech boom.

There were lots of other shows though that had ridiculous housing and lifestyles that didn't fit their jobs, those shows were just bad examples to pick.

 

[kyounge1956]

Well, you might want to get the gummint coupon and use it to get the (nearly) free converter box just in case you can't stand it. The coupons are available through March 31 2009 or "while supplies last", and I have a feeling they'll go fast once the analog TV screens go blank on 17 Feb.

Nah, I think I'll bite the bullet. About the only thing I ever watch any more is "Nature" on PBS and I don't even watch that every week. I get lousy reception and as far as I'm concerned that's a good thing. IMO TV is mostly a waste of time and I refuse to pay for cable so I can waste time with less static. I'd only end up wasting even more time than I already do, and alas I am not one of these people with a bigtime work ethic (I mean when I'm off the clock, not that I'm a slacker at my j*b). If I procrastinate for another two months until the coupons and (nearly) free converters are gone, that means I'd have to shell out some ready cash to make the boob-tube work again, which will be another incentive for me to stay "on the wagon" (TV-free).

Actually, I watch more movies on it than anything else, but now that my VCR is getting cranky and I have a computer with a DVD drive in it and a nice big flat-screen monitor, I don't even use it much for that. It's nearly time for my annual New Year's Eve cinema orgy, but last year when I went to rent my movies, there were hardly any videocassettes left. I guess they are just keeping the older ones until they either wear out or people don't rent them often enough to justify letting them take up shelf space. All the more recent movies were on DVD.

 

[Sarah in SC]

Frugality...I don't know that much information about real people's lives, to say nothing of TV characters. Whoa! The things people know about tv. Got no cable box, so I guess the tv won't work next year. Yep, gotta get back to the library and check out some more books.

I don't think most of the gen public has any idea how much of an effect advertising has on their outlook/consumerism/general happiness with what they have. By not having a radio or a tv in my daily life, I am only minimally exposed to advertising and I am still amazed at where it sneaks in (like the bathroom at the gym!).

Of course, Mr. Conservative spender only got those things he needed, not merely wanted, right?

 

[CuppaJoe]

Well, you might want to get the gummint coupon and use it to get the (nearly) free converter box just in case you can't stand it. The coupons are available through March 31 2009 or "while supplies last", and I have a feeling they'll go fast once the analog TV screens go blank on 17 Feb.

I think the coupons and offers will be there. TV networks are terrified that the low-income people with rabbit ears will be unable to see the commercials. After all, they are the captive audience who also don't have the nice remotes with mute buttons. Imagine if billions of people get a taste of the joys of not watching TV.

 

[Frugality_of_Apathy]

Frugality...I don't know that much information about real people's lives, to say nothing of TV characters. Whoa! The things people know about tv. Got no cable box, so I guess the tv won't work next year. Yep, gotta get back to the library and check out some more books.

Good on ya, I haven't used the tv for more than the nightly business report on OPB for a few years now. Lots of time for reading.