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Consumer Credit / Credit Cards
Interesting View of Debt

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By 4inthefamily
August 12, 2004

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I have a close friend that I have been helping as she tries to figure out how to budget and pay off a pretty heavy debt load. We haven't met the last couple of weeks since I have been out of town and she has had her family in visiting.

While her family was in, she talked to her dad about her family's debt problem and asked for his advice. He said, "Now, you guys are just out of school and it probably seems like you have a lot of debt. You just bought a house and a car and you have student loans and credit card debt looming over you, but...."

At this point, she expected her dad to say "it gets better after a few years" or "your salary will increase and it won't seem so bad" or even "it takes time to learn how to manage your money"

But...

What he really said was "...after a few years you will realize that you will just always be in debt. That is just the way it is. You will become more comfortable with this idea and it really won't bother you too badly. Most of the nation is carrying a credit card balance. We all finance our cars. Even some of us in our fifties are still paying for our education. Debt is just a part of life."

Her father is a college professor.

Pretty Sad.

-4


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