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Consumers face challenges in handling debt
07-04-2006, 09:32 AM
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#1
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Give me a museum and I'll fill it. (Picasso)
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Consumers face challenges in handling debt
http://news.yahoo.com/s/ap/20060704/..._delinquencies
Higher interest rates, gas prices and other soaring costs are pinching high debt/low savings people.
The canary in the coal mine is starting to look peaked...
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Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: Consumers face challenges in handling debt
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07-04-2006, 09:52 AM
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#2
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
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Re: Consumers face challenges in handling debt
 Quote:
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Originally Posted by Cute Fuzzy Bunny
The canary in the coal mine is starting to look peaked...
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Re: Consumers face challenges in handling debt
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07-04-2006, 10:22 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
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Re: Consumers face challenges in handling debt
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: Consumers face challenges in handling debt
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07-04-2006, 10:47 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
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Re: Consumers face challenges in handling debt
Interesting piece CFB.
Quote:
With help from a credit counselor, Marshall is working out a budget and whittling down her $13,000 in card debt, which she figures could take 3 1/2 years.
"I have to think about everything I spend," she said. "Sometimes in the grocery, I have to say to myself, 'Do you really need to buy this?' And I'm looking at things like, how can I not spend $80 on dry-cleaning."
Marshall said that instead of feeling deprived, she's feeling good about it.
"I'm proud about what I'm doing," Marshall said. "I'm paying that debt and getting educated, and I know I won't make the same mistake again.'"'
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Wanna bet that as soon as she gets another opportunity to run up her CC that she will go on a shopping spree?
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Re: Consumers face challenges in handling debt
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07-04-2006, 01:32 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
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Re: Consumers face challenges in handling debt
Absolutely. Probably about halfway through the payoff scheme the buying famine will eat away at the self restraint and CHOMP!
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: Consumers face challenges in handling debt
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07-04-2006, 05:21 PM
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#6
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Recycles dryer sheets
Join Date: Jun 2006
Posts: 322
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Re: Consumers face challenges in handling debt
Lets see eat or do 80$ worth of drycleaning ?
Tough choice.
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Re: Consumers face challenges in handling debt
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07-04-2006, 05:24 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Dec 2003
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Re: Consumers face challenges in handling debt
Man, I saw that too and said "WOW! Eighty bucks just to clean your clothes!". Then I remembered that i used to spend over a hundred a month on mine when I was working :P
Shoot, I spent about $25 a month just to have my shirts laundered and pressed.
Now I spend about $25 a year buying shirts, if that, and it takes me a couple of years to spend a hundred bucks on clothes.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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