This photo was not taken in the dirty thirties, it only looks like it. It was in 2001 and we were wandering the back roads of Saskatchewan, in search of just this thing. With today's economic woes, one wonders if we are not in for something like this again. I got my monthly credit card statement a few days ago. I always pay the monthly balance in full and thus have never paid one penny of the exorbitant interest that they charge. They probably do not like me much. I noticed that my 'minimum monthly payment' was zero. I read further and discovered that the bank is offering to waive my payment this month so I can "treat myself and my friends". Then in small print, it says that normal daily interest will still accrue. Whoa! Isn't this how the world got itself into this mess in the first place? This is very irresponsible of the banks because there will be many people who will do exactly what is being suggested to them, delay paying down debt, and add some more. I guess some people just never learn.
2 comments:
I agree that credit card debt can be a huge burden. I don't have any right now, nor do I want any. I suppose it wouldn't hurt to have a credit card for "emergencies", but I'm afraid I may be too tempted to use it for more.
They are a great convenience if used responsibly.
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