Dodge the Debt Debauchery

Americans and many other people across the world have made building up debt an art form. In little debaucheric episodes we fly out to our favorite stores or click the online shopping cart checkout thinking, “Not to worry, I’ll pay for that one day.” Our spending grows and grows until we find ourselves slammed with 22 percent interest rates and a debt collector – who’s not interested in hearing why we needed those new pair of Jimmy Choo’s, our fancy new John Deere ride-on lawnmower or that wall-sized HDTV – is knocking down our door.rnrnWhile that may be an extreme example for most debt builders, it isn’t too far off the mark. We are constantly mired in the world of instant gratification, thinking we can have anything we want now and working for it later… instead of working for it now and getting it later! What a complete backwards way of thinking.rnrnTeens are especially susceptible to the debt dilemma; because for many of them it’s the only perspective society has given them about money. Sign up for a credit card and get a free pizza. Buy $2,000 worth of goods now and get a free plane trip. Buy all those things you want now – worry about them later.rnrnParents you can help your kids dodge the debt debauchery with a little education. Help them see how credit cards and other bills get paid, instead of just having them around watching when you charge things. If you can save your kids from the debt epidemic, you’ll be preparing them for a better chance at success.