Tuesday, January 8, 2019

The Problem With Debt

When I read discussions online related to pregnancy and child-rearing, I notice one thing: many working mothers aren't some career-obsessed feminists who want to prove a point and they often complain about how hard it is to combine working with taking care of a family. Some have husbands/partners who are permanently underemployed, while others are stuck up with debt.

Sometimes it's student loans, sometimes it's  credit card debts, or a combination of the two. Imo, there is something very wrong with a society which encourages very young people to start their adult life by taking on huge amounts of debt. Just recently I posted a link to an article talking about advantages vs disadvantages of going to college which mentioned this problem. Today, I'd like to talk about consumer debt.

Believe it or not, but there are few people among our acquaintances who even own a credit card. My husband had to take one when he traveled to America as he was told that in the USA, one needs it. We seldom use it and the bill is always payed next month. There are many people over here who take irresponsible loans and later come into trouble, but apparently the problem is much worse overseas.

Neoliberalism pretends to care about human rights but at the heart of it is soulless consumerism and predatory money-lending practices which turn people into serfs, and now it appears that big credit card companies are behind the attacks on the free speech, too. (Are we really surprised?).

I found an article which explains the whole credit card debt issue in more detail:

The Truth About Credit Card Debt

I hope it contains some helpful information and certainly a warning for all of us. And ladies, you still can be a housewife, as long as you take care to marry a husband capable of holding down a job and avoid debt. 

P.S. OFFTOPIC. Our cat is still missing, please pray that we find him!


  1. I a sorry to hear about your cat. But maybe he will come back home; one of my friends had a cat who was missing for two years and suddenly came back. Assumably he was living with some other people, because he was fit and well.

    Me and my husband both have credit cards. They are handy when you travel. Otherwise we never use the credit, only debit. I have always thought that people who feel they need credit cards to balance their personal economy, are the last people who should be given one. Same goes with any other consumer debt.

    And buying stuff with installment (is that a correct word, meaning you buy a phone and pay it in small parts, like 10 euros per month for 24 months, ending up paying more?). If one has not been able to SAVE money for that purchase, how they imagine they cold pay the installments? Usually people claim that "but my washing mashine broke, I HAD TO get a new one". Newsflash: You cannot use money you do not have. Sometimes one just must do without something, until you have saved the money. I assume doing laundry manually is a great motivator.

  2. Yes, that's what we think, that someone else stole him. The whole neighbourhood here knows the cat and that he belonged to us. Some lady saw him going into a back alley and after that...he vanished, just like this.

    Well, mobiles nowadays can cost up to 1000euro, and everybody thinks they are entitled to the latest model:)
    As for the washing machine, does anyone even know how to wash by hand anymore? People don't even know how to wash the dishes by hand nowadays.

  3. I heartily agree! Taking on debt is like financial plague, it leads to financial death. I love the washing machine example. I haven't have a brand new machine in almost thirty years. When it breaks down and my husband can't fix it, we buy another used one and go along for another five or so years. The used market is huge in the USA. There's always someone upgrading, or moving, or getting rid of things so it's possible to buy used for a fraction of the price of new. It's better to be humble and have money in the bank, than be proud and owe money to the bank!

  4. Believe it or not, our city council used to give a subsidy for "poor people" to buy a new washing machine once a year. Not sure if they are still doing it. You can buy a new one for less than 300 euro.

    I think another way people come into debt is medical problems. Luckily, here we have somewhat better coverage than in the States, that's why I think that affordable medical care is a right case, or should be.