Generation Debt, and other writing by Anya Kamenetz
Pop quiz: What exactly is the problem with credit cards?
I am absolutely floored by the angry comments, on Yahoo, about this article. I can understand if maybe the article doesn't speak to everyone, after all, not every article can. But the responses from people just defy logic.Which means, an article like this is exactly what people need!Keep up the good work!
I don't understand why this is a problem. "You mean I have to pay for what I buy?". I was in college not that long ago and I chose to work my way through school without a credit card. I ate a lot of Ramen and drove a crappy car (which I still drive). Those that are suffering now deserve their fate. Period.
I noted the student who got stuck with the minimum payment problem. Today, most credit cards offer web site with notification services of pending payments, pending payment amounts and most notably autopay. If the student had set this up, they would have known the payment was changed and made sure there was enough in the checking account to make the new payment.
Do the math. Most people don't even do this.Don't buy what you can't afford.I went through college living frugally. The people who have debts didn't.I don't feel sorry these people. It's not anyone else's fault but their own.
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