Cash Money in Your Pocket
Fatten Your Own Pocket
A Call To Change Our Money System
We can change the shaky foundation our economy is built on which has fatten the pockets of corporate American with our hard earned dollars. This is a free enterprise country where we have been taught to "do whatever it takes" and "anything goes" to increase earnings or profits. This is a call to change our money system. One way is to decrease your credit card usage.
Hordes of credit card applications were mailed on a daily basis to homes announcing low finance rates offered with the completion of an application which requested information on husband and wife incomes. Credit card America was given the liberty to assess their gains based on the double income reported for each household. Annual percentage rates, credit limits, membership fees, over limit fees, and late fees were all based on the average family household having two incomes. This simple information: household income range, number of working members, and number of cards requested gave credit card companies financial background from "you and me" to project and establish higher levels of APR's, limits, and fees to increase their profits. The financial information per double income household was inflated in the past 10 years as total household incomes decreased. This shift led to greed and recession.
Victims of Materialism
We led our lives based on the same principles and desired the latest technological gadgets, biggest home, most expensive foreign car, etc. We became a materialistic society regarding success based on what we acquired rather than how we acquired it. Becoming victims of the "do whatever it takes" and "get rich quick" schemes led us all to greed at any cost.
We inflated our worth by applying for credit cards and extending our credit limits to the tens of thousands as an establishment of worth.
For example, I would apply for a credit card with a $1,000 limit and with on-time payments, a $3,000 credit limit would be offered. Then, more purchases would be made to a limit high enough to purchase a car. The purchase was made and with a minimum payment each month before the deadline, credit limits would increase. I went from standard plastic card to a prestigious status of gold or platinum card. "The color of the card" became a status symbol.
Fatten Your Pocket
Fatten your pocket with your own hard earned money. Let's get creative in how we can increase our personal finance. In additional to savings, investments and money hidden in your home, review all monthly statements (paper or online) carefully for computer errors. Computer mistakes cost us hundreds of dollars each month and thousands each year. Step-by-step we can make economic changes.
Your comments below are welcomed in an effort to turn this economy around. Like this? Go to my website, moneycoaching101.websiteworks.com for more.