Quote:
Originally Posted by xo_kathy
Mismanagement isn't always about spending your cash on booze, cars, and crap you don't really need.
My mother did exactly that when she was first divorced from my father and trying to raise two young kids while working full time. She racked up a credit card debt she couldn't afford so we could have clothes and food - silly her.  ( Disclaimer for my poor dad - he gave us child support. Mom was a little too proud perhaps and had him give less than required b/c she wanted to make it on her own).
So, because she couldn't (and shouldn't) get any more credit cards, she often used layaway at Kmart to get Christmas presents, school clothes, new towels and/or sheets we'd eventually need, etc.
There ARE people who use it for things they know they will need in the future - not just frivolous things. And as someone pointed out, my mom's situation is probably really similar to a lot of people in rural Arkansas who got Wal-Mart off the gorund in the first place. |
But, aren't these people in the minority? Most of the people I know who are in debt, spent money and charged their credit cards on things they knew damn well they couldn't afford. These things were like expensive clothes, eating out everyday, and flatscreens. Also, some of them just HAD to live alone. It wasn't acceptable for them to live with roommates, the 'rents, or in the dorms. I knew a few people who had scholarships that paid for their room and board, and only lived there for like a semester or two.
