I was troubled to learn recently that even with the recent trouble in the news about people having Debt Consolidation Management problems, credit card debt has gone up by 7.1% in April in comparison to the same month last year.

It’s thought that consumers who haven’t had their credit rating battered by entering a Scottish Trust Deed or an IVA, are taking advantage of carrying out some much needed Debt Consolidation by transferring card balances.

The rest are just not listening to the news and are forgetting that we’re still feeling the affects of the deepest recession for decades. Some may not appreciate that just paying the minimal amount each month might mean a repayment term of at least 30 years before the balance has been paid off.

Speaking to a money expert it was explained to me that some consumers don’t appreciate what it will mean to wait for things. Using the credit card almost feels like magic money that brings instantaneous benefits. He added a little more by explaining that before the recession started it wasn’t unusual for people who had just been discharged from a Debt Consolidation Management plan such as an IVA or a Scottish Trust Deed to be given a credit card almost as a reward for surviving financial boot camp.

It’s all hardly surprising when we are surrounded by reports in the press telling us about the country having massive amounts of debt or that members of the public believe that it is okay to accumulate twenty to thirty thousand pounds of debt.

In the face of these recent statistics it would seem at least the sellers are likely to profit from this increase in spending. The economy does need people to return to the high streets with their hard earned cash. This is a sad reality though that the public have to drag out us out of recession when the government can’t. The worrying concern is how the spending is being carried out. If its through credit and not disposable income, then we might be heading for more trouble.

The older generation might remember the times when we had to wait for that new automobile or fashion item. It’s a period of time this generation doesn’t appear to appreciate. Waiting appears to be an unknown word. Every time a person purchases any goods from a popular chain of stores; they are asked if they wish to go immediately into debt by taking out a credit card. Despite declining we’re then told we could save money on our purchases if we accept their offer?

I firmly think that this is part of the reason we have now found ourselves in this predicament. Could the expression Debt Consolidation or credit card debt be a thing of the past? What do we have to do to push the clear message home that using credit cards is not always the best way to manage our finances?

It’s alleged that a great deal of people is using credit cards to pay bills on-line and maybe buy food. The tax man apparently will allow a person to even pay their existing tax bill should they feel the need to do so.

Let us keep the spending up but do so with cash or money that we’ve saved up. Maybe we will need to learn a little more?

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