Debt is a Product in America
The #1 sickness in America concerning finances right now is debt. Debt is a product in our culture and it is vigorously aimed at you and me everyday, everywhere. As a society, we borrow more money than the last two generations times two and your online credit report reflects these habits! Some companies like Sears make more profit from their credit department than from all the physical products they sell.
But It’s the Norm Isn’t It?
We are programmed from childhood to make automatic decisions regarding our personal spending habits thus negatively affecting our online credit report. A few ‘real world’ examples are listed below:
∙ leasing a car instead of paying for it in cash (unheard of right?)
∙ 90 days same as cash (NOT… really the same in more than 75% of the cases)
∙ rent-to-own (translation = paying 2, 3, 4 times the actual value of the product)
∙ 30 year vs. 15 year mortgages (an accepted lengthy and very costly way of purchasing a house)
What to do? Well, I hate to give the obvious answer here but how...