Comments on: The Ways We Get Into Debt http://debtfreeplaybook.com/blog/news/ways-we-get-into-debt.html As You Grow, Your Debt Shrinks Fri, 11 Sep 2009 07:46:29 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Links and Carnivals http://debtfreeplaybook.com/blog/news/ways-we-get-into-debt.html/comment-page-1#comment-4393 Links and Carnivals Wed, 09 Apr 2008 20:38:24 +0000 http://debtfreeplaybook.com/blog/ways-we-get-into-debt.html#comment-4393 [...] Debt Free Playbook (great blog name!) posted a great essay on the ways we get into debt [...] [...] Debt Free Playbook (great blog name!) posted a great essay on the ways we get into debt [...]

]]> By: Ben http://debtfreeplaybook.com/blog/news/ways-we-get-into-debt.html/comment-page-1#comment-4352 Ben Tue, 01 Apr 2008 00:41:34 +0000 http://debtfreeplaybook.com/blog/ways-we-get-into-debt.html#comment-4352 Hey Rick - appreciate your comments and your sentiments. I agree that we've been seduced by the media and lure of 'having-it-now' into a credit mentality. And I agree that we need more education - real and valuable education - on the traps and pitfalls of credit. And I may be missing the irony in your comment, but I want to emphasise that the best way to 'hurt' the credit card companies is to pay off your debt to them as fast as possible. Paying "as little of the outstanding balance as possible" isn't giving them their own medicine - it's playing into their hands by paying them more interest over a longer period... Hey Rick – appreciate your comments and your sentiments. I agree that we’ve been seduced by the media and lure of ‘having-it-now’ into a credit mentality. And I agree that we need more education – real and valuable education – on the traps and pitfalls of credit.

And I may be missing the irony in your comment, but I want to emphasise that the best way to ‘hurt’ the credit card companies is to pay off your debt to them as fast as possible. Paying “as little of the outstanding balance as possible” isn’t giving them their own medicine – it’s playing into their hands by paying them more interest over a longer period…

]]> By: Hanks Weekly Hangouts #23 (March 29, 2008) | My Investing Blog http://debtfreeplaybook.com/blog/news/ways-we-get-into-debt.html/comment-page-1#comment-4335 Hanks Weekly Hangouts #23 (March 29, 2008) | My Investing Blog Sat, 29 Mar 2008 08:02:53 +0000 http://debtfreeplaybook.com/blog/ways-we-get-into-debt.html#comment-4335 [...] DebtFreePlaybook crafts up a bit about how we get into debt. How DON’T we get into debt? Everyone has it, managing it is [...] [...] DebtFreePlaybook crafts up a bit about how we get into debt. How DON’T we get into debt? Everyone has it, managing it is [...]

]]> By: RickH http://debtfreeplaybook.com/blog/news/ways-we-get-into-debt.html/comment-page-1#comment-4258 RickH Mon, 24 Mar 2008 01:31:38 +0000 http://debtfreeplaybook.com/blog/ways-we-get-into-debt.html#comment-4258 Personally I think we should adopt a much more "militant" attitude towards the use of consumer credit and credit cards. The shift that has taken place over the last generation has been a very obvious "conspiracy" on the part of the large financial institutions to create dependency amongst as many consumers as possible and to push interest levels up to levels that were considered immoral just a few decades ago. Banks and bankers who do this are not respectable members of society. They are thieves and bloodsuckers. There are two ways to deal with this. First, and most obvious is to not use credit cards. Second, if you have become enmeshed in the credit card trap, do everything you can to give them as much of their own medicine as possible. Look for every way possible to pay as little of the outstanding balances as possible. Personally I think we should adopt a much more “militant” attitude towards the use of consumer credit and credit cards. The shift that has taken place over the last generation has been a very obvious “conspiracy” on the part of the large financial institutions to create dependency amongst as many consumers as possible and to push interest levels up to levels that were considered immoral just a few decades ago. Banks and bankers who do this are not respectable members of society. They are thieves and bloodsuckers.

There are two ways to deal with this. First, and most obvious is to not use credit cards. Second, if you have become enmeshed in the credit card trap, do everything you can to give them as much of their own medicine as possible. Look for every way possible to pay as little of the outstanding balances as possible.

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