Ever heard the term, “you gotta spend money to make money”? Or how about those who say, “debt is a tool to prosperity”? It’s myths like these have caused people to rely on their credit cards with out giving safer options like prepaid debit cards a second thought. Why use a prepaid debit card when you can get way more with a credit card? Let’s take a look back on how our dependence on credit cards resulted in a nationwide recession.
It begins with the strategic marketing plans of businesses who made people believe that if they purchased more things then they would find happiness. This developed into convincing people that they would be happier if they had more status, and the only way to get to a higher status was to have more things. Other marketing plots were constructed to make people believe a certain product would bring so much pleasure and enjoyment to one’s life that they should do anything they could to pay for it, no matter how big the price tag was.
We can also glance at how big banks spent billions of dollars annually trying to make us think that we all needed to borrow more money. The marketing tactics from big banks convinced us we could have whatever we wanted right away, and we would just pay for it “later”. This resulted in consumers spending money they didn’t have on things they didn’t need and everything would be just fine. We just pushed the idea of paying for it “later” to the back of our minds.
Being in a constant state of debt meant people never understood the distinction between wants and needs. When “later” finally came it was time to pay up and our debt became a reality, but where was the money? It wasn’t there because we never had it in the first place! So what was the solution? For many, it was to spend our way out of debt. Unfortunately, lenders were willing to let their customers continue to fall deeply into debt. But where were the banks getting all this money from? When banks ran out of money, and everything came to a screeching halt. That’s when the country felt the crushing impact of government bailout. This sent our country into a tailspin of recession that the government is still trying to spend its way out of.
Victims of these strategic marketing plans lost their homes, cars, credit, jobs, and their faith in the system. There was a better solution all along. It’s simple, do not spend money you don’t have. a Ready debit, prepaid debit card is the perfect way for consumer to stay in control of what they are spending.
The truth is debt brings on enough risk to offset any advantage that could be gained. With all the companies trying to convince us to spend more money in order to be happy, we have forgotten that being debt free will actually bring incredible peace and tranquility in life. Getting accustomed using prepaid cards, and not spending money you don’t have is a much safer way to develop spending habits. In the end you can’t put a price on the peace of mind it will bring you to be debt free!
Learn more about a safer way to spend by using a prepaid credit card. Go to www.readydebit.com and let Ready Debit put you on the path to financial stability.
categories: debt,finance,money,wealth,credit,economy,economics,budget,credit cards,spending,shopping,government,self help,self improvement
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Tags: budget, credit, Credit Cards, Debt, economics, economy, finance, government, money, self help, Self Improvement, shopping, spending, wealth