Credit Is Way Too Easy For Todays Generation

It seems way too easy for today's children to apply for and get credit. This "buy before saving" attitude is dangerous for a generation that grew up getting everything handed to them whenever they asked for it. It seems to have created a selfish generation that believes the world owes them everything, before they have discovered what it is like to actually earn things. Parents are left having to constantly help this generation, at the detriment of their own hard earned comforts. When I left home, other than for asking family to help with the occassional babysitting or donation of some of their time, I never had my hand out like todays younger generation seem to always do. The reason for this primarily seems to be the debt load they are carrying with loans and charge cards that are hanging over their heads because they didn't think through how long it would take to pay these off if they just keep paying the minimum. We had loans in our days, but we always tried to pay them off with more than just minimum, and we saved before we bought luxuries. My neighbour once told me "it all started with instant coffee", and I think that statement says it all.
KSpirit KSpirit
2 Responses Nov 30, 2011

And we bought "used" cars, and cheap 3 room grouping furniture, and Biway/Zellars clothing, and beginner sized homes, until we got better established and could afford to "move up". And if we didn't have the money in the bank, we didn't buy.

we worked hard as kids tobe able to buy what we wanted with cash as kids we saved most of the moeny we made to by what we wanted as a young married couple