Have you heard the latest news that credit card debt has doubled from the past couple of years? Could it be that most people feel more comfortable in spending? Many people are becoming comfortable with spending after coming through the toughest financial setback in the United States history. This is good and bad. The good news – there is no longer fear in spending. Spending helps the economy to move toward. Spending spurs job. Spending helps products move off the shelf and as a result lower prices at the registers and pumps. You can’t deny spending is good. Looking at the latest unemployment numbers, it is taking longer to move out of this financial strangle hold. Unemployment moved down .4%. The economic recovery has not taken effect in every household. But those who can spend will spend.
On the other side it is bad that credit card debt has doubled. Surely, the economy has not fully recovered. Many people are still out of work. Credit card debt is bad because the prices on the shelf have not come down. So we are in a dilemma. The dilemma is that we may not have fully learned our lessons from the past couple of years. I am not saying it is ok to spend but to double credit card debt tells me we don’t have the money to buy. Are we are going back to the days where we used the plastic to pay for stuff? The plastic became our best friend and it became hard to part with it. It is ok to have plastic but don’t let the plastic become your friend again. We cannot let the plastic to talk us into debt again. The plastic revealed our financial inadequacies during the collapse. In some cases it truly revealed our net worth. Whatever ways that you use during the financial collapses for your plastic, continue to use it. The plastic does not care about your disposable income. It wants you to have it all for yourself. Keep an open mind when you go into the stores. Decide today to limit your plastic use. Believe me your disposable income will thank you.