And here I am worried about CITI and Discover... :)
If you would like a recap of the episode please visit the Oprah Winfrey Show - The Mom Who Shopped Her Family Broke.
HS
Keeping Up with the Joneses
Our female Golden Retriever gets to stay home in our bedroom with the TV on every day. I got home early today and the Oprah Winfrey show was on. Suze Orman was lecturing some couple about debt and I could not believe what I saw, they have 135,000 dollars in credit card debt! Is that even possible? Her husband works and makes 100,000 a year, so he probably brings home 75-80. Their car payments alone are more than our mortgage and we probably make about the same.
And here I am worried about CITI and Discover... :)
If you would like a recap of the episode please visit the Oprah Winfrey Show - The Mom Who Shopped Her Family Broke.
HS
And here I am worried about CITI and Discover... :)
If you would like a recap of the episode please visit the Oprah Winfrey Show - The Mom Who Shopped Her Family Broke.
HS
5 comments:
We have near that amount in student loans to deal with. Unlike credit cards the student loans cannot go away and must be paid because they're backed by the government. When we eventually find a way to pay her student loans, all of the payments will be beyond our mortgage. Right now I feel that dragging credit card balances is what is slowing us down from attacking those student loans. If/when we get into a cycle of attacking the crap out of them and getting rid of them, we can move on to the student loans.
Suze Orman is okay for a financial person, I just don't agree with her principles. She also advocates people use credit to their advantage, whereas I find debt the problem, not a solution. It takes money to get rid of debt, and problems that come up have to be handled before debt. Lately we have had more problems and getting rid of debt has been sidelined.
I watched the show yesterday as well. It truly was shocking to see how their world seems like a 'dream world' yet inside there is so many things wrong.
I liked the follow up. It's always interesting to see where people are now and if they've made permanent positive changes in their world.
Credit card debt is a problem for many people and is a major contributor to personal debt. Funding your lifestyle with a credit card is easy but the hard part is paying it off and clearing the debt.
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