Posted: Tue Nov 08, 2005 4:57 am Post subject: Do many Americans misunderstand their finance?
A lot of corporations have substantial amount of debt strategically. Do many Americans see this, misunderstand their finance and end up having huge (personal) debt thinking that it's a good personal finance strategy? Is this one of reasons?
Npe the reason is that people like having stuff, and CC companies say hey buy this for only $20 per month and then the computer store does the same thing and then the car company and then everyone else. And then more people come along and say that they will consolidate everything for one smaller bill and then the people just go and fill up the CCs again.
The USA and more and more Canada are materialistic countries, and the more people see the more that they want. Why else do you think that NA uses soooo much energy and needs so much oil?
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