Debt that the British had incurred for the last decade has been astonishing $2.8 trillion or 1.4 trillion pounds, according to that New York Times article.
Spending more than one can earn is dangerous. Being in debt is not a good thing. So how would one pay for those debts? With used designer shoes? With foreign holidays already consumed? With used designer clothes? I don’t think so. As if there is still value with these goods that were purchased through credit.
People have things so easily these days, it seems. Children having their own cellphones or laptops. People getting trendy cars and designer clothes and tech gadget that get out of style after a few months. Whatever happened to delayed gratification? Whatever happened to working to earn to be able to buy what one needs or wants?
However and whatever people spend their money on, I think, in my humble opinion, it is better to pay in cash than pay with a plastic card where you end up paying more. Or swimming in debt.
