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August 27th, 2004

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05:43 pm - $9000 credit card bills???
I was listening to NPR on the way home from work, and they were covering one of Kerry's stump speeches, and the topic was some kind of financial reform, and one of the points mentioned was that the average american has a credit card debt of $9,000.00.

This kind of blew my mind. I don't know anybody with a CC bill that high, so the idea that 9k was the average was pretty stunning to me.

I don't really use my credit cards much, I pretty much pay off anything that I do purchase every month though.

I know most of the people who read my journal are fairly sane, but do you guys know anybody who actually has ever had that kind of debt on a credit card? And why? Emergencies?

This only reinforces my belief that most people are insane.

(5 comments | Speak your mind)


Date:August 27th, 2004 03:56 pm (UTC)
i personally don't like for my CC balance to ever go over $500 because it stresses me out...and i have a platinum mastercard, so my max is much higher than that.

however, i know several people with CC as high as $9,000...probably even higher. and for most of them, it's just because they've tried to live above their means. charging rent here, buying a new TV there, the occasional car payment. why? they have to live in the nicest part of twon, a 13" TV apparently isn't good enough, and their pretty new car came with $450/month payments [oh, but no money down!]. and don't forget going out for drinks on the weekends! i don't know that they're insane...just not very smart about living reasonably. and most of them didn't have very responsible financial role models to look up to when they were learning to manage money...thankfully, my parents were complete tightwads, so i learned how to pinch a penny or two. :)

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