You realize that not paying your credit card bills eventually will cost all of us a lot more down the road? Companies aren’t just going to absorb the unpaid debt Eventually, that debt gets passed on to others, including those of us who pay our bills when they’re due. Is it fair to make the rest of us in effect pay your debt?
I’ve never made any purchase on credit that I didn’t have the money already budgeted. When I became disabled and could no longer work, one of the first things I did was be sure all of my credit cards were paid in full. Then I discontinued all but one of the cards. I keep the one card only for situations where paying by check is a hassle and it’s not feasible to carry around wads of cash.
Yes unforeseen events such as job loss or catastrophic illness do occur, but you can avoid or at least minimize the effects by not living beyond your means and having some money set aside for such contingencies. Before you make a major purchase, ask yourself, do I really need this big screen TV or whatever and if so, do I have the money to pay for it?
Good Question.
Know that every day the FED prints money and then through a shady system of bond purchasing loans the money to banks at 0% interest.
To pay that debt incurred the interest on those bonds are paid by taxpayers.
So is that fair to make the rest of us pay that debt so banks can rake in the big bucks?