Financial Maturity Blog
I wanted to tell people about my financial maturity blog. It deals with how people can develop financial maturity in these days of easy to get credit, rigid creditors and credit bureaus, and just basically how to keep out of trouble with spending.
The problem in Canada is that easily gotten credit is a relatively new thing. It's only a generation or so old. People haven't developed 3 or 4 generations of wisdom of what can happen when you use and abuse credit cards, lines of credit, payday loans, mortgages etc. Currently it seems that people are loading up on credit, purchasing all sorts of consumer items. This amount of debt and purchasing is unprecedented in our Canadian history.
I reviewed some of the reasons that people are spending so much, for example:
? Never before in the history of Canada, or anywhere else for that matter, is inventory of consumer items so readily available. The big box companies are a statement of this.
? Never before have Canadian creditors had such sophisticated systems that they are able to issue credit, administer credit, and collect their debts. It's a highly automated system.
Consumers are getting sucked into as much of the borrowing and purchasing excitement as they possibly can. I cringe to think what would happen to the person with a huge amount of debt if the interest rates went up to 19% as they did in the early 80's, or if there was a large economic depression.
That's the idea of what the Financial Maturity Blog is about. Please drop by to see what we're saying.
I wanted to tell people about my financial maturity blog. It deals with how people can develop financial maturity in these days of easy to get credit, rigid creditors and credit bureaus, and just basically how to keep out of trouble with spending.
The problem in Canada is that easily gotten credit is a relatively new thing. It's only a generation or so old. People haven't developed 3 or 4 generations of wisdom of what can happen when you use and abuse credit cards, lines of credit, payday loans, mortgages etc. Currently it seems that people are loading up on credit, purchasing all sorts of consumer items. This amount of debt and purchasing is unprecedented in our Canadian history.
I reviewed some of the reasons that people are spending so much, for example:
? Never before in the history of Canada, or anywhere else for that matter, is inventory of consumer items so readily available. The big box companies are a statement of this.
? Never before have Canadian creditors had such sophisticated systems that they are able to issue credit, administer credit, and collect their debts. It's a highly automated system.
Consumers are getting sucked into as much of the borrowing and purchasing excitement as they possibly can. I cringe to think what would happen to the person with a huge amount of debt if the interest rates went up to 19% as they did in the early 80's, or if there was a large economic depression.
That's the idea of what the Financial Maturity Blog is about. Please drop by to see what we're saying.
