Credit doesn't buy happiness
It'll be that time of the year again soon, you know, the festive season; That time of the year when families get together with love and warmth in their hearts, where people are happier and joyful and...
...Well, maybe it's not quite all jingley bells and reindeers. Not for everyone anyway.
For a lot of people this time of year represents an unmissable opportunity to create more credit debt for themselves. As if there's not enough credit debt in their lives already. Consumers are bombarded with advertisements for Christmas specials on everything from pools, cars, power tools, toys, electronics...Just about everything you could think of. People are urged to get their credit cards out and spend spend spend, and don't worry, you can always swap your credit card over to a 0% interest card when you transfer your credit card debt to a new bank. That's zero percent people! Free money! That's right, it's totally free. (Hmm...)
Advertisers feed consumers images of happy families opening gifts to enjoy and which will make them a better people: More desirable, more powerful, more accepted, more normal, more more more more more... Of course we all know that a person giving gifts they can't afford, and will be paying for over years of credit card payments, is just a lovely and festive gesture right? And here's the bonus feature, the more expensive the gift the better it will be received; The better you will be perceived. BOOM! It just makes sense to buy more jewelry or a new handbag or lawn mower. I mean who would want to have an old lawnmower bought two years ago. It's so yesterday...
Of course, other than the credit-bought gift giving, there is Christmas day! Yes, that day when people and their families are guilted into spending more than they can afford on one day of the year for food they won't finish and decorations that have contributed to global warming, the dump sites of the world and to killing our marine life. It's just so festive! The multi-national supermarket chains plaster images of the typical Aussie's Christmas day in the media to ensure that people feel guilted into attempting to make their Christmas day just the same. It's easy, just put it on your credit card consumers. Free money remember?
It all sounds pretty grim I think. I mean I am sure there are people out there who love this time of year and all that it entails. However I heard somewhere recently that right now some 85% of Australians are carrying 110% of their net worth in credit debt. Just to put that into perspective, that means 85% of Aussie's owe 10% more than the total of everything they have in credit debt. A vast majority of it to foreign creditors. That's frightening. If something goes wrong...Well. Big trouble. But what could go wrong? Things are great. There's free money from the plastic card in people's wallets and interest free payments and...Hmm, remember 2009? That little thing called the GFC? The Global Financial Crisis I mean. Yep, crept up on millions and millions of people. Billions in fact. There are some who feel we are on the brink of another financial breakdown. Take a look at the Australian Debt Clock below. Oh, and just in case you're not sure; Money isn't Christmas is what the image on the left means.
It's an interesting time these days in multicultural Australia. Many of our, mainly, christian population celebrate Christmas and many do not however it seems that no matter a person's creed, culture, race or religion credit spending is universally embraced. It seems to go hand in hand with those ridiculous New Years Resolutions people make and break.
This year I urge you to find your own truth. Research your future and what it holds for you. Go and see your financial advisor or simply stop credit spending. The more you do it the further you will lag. And as for the festive season? Try getting back to basics. Find pleasure in being with your family and friends, not in buying things. give of yourself; Your time, generosity, compliments and gratitude. It will be more rewarding than you think and it truly is free.
Disclaimer: There is no free money when it comes to credit cards and credit in general. The banks can pitch it any way they like but it will always cost you. Just saying.
Design and create your ideal life, don't live it by default.
@galenkp
Images: wallpaperswide.com/
All the credit craziness is why Bitcoin was invented, and that has spawned every other crypto alive today, what they almost all have in common is that you cant just magic money out of thin air like fiat lenders do. A Crypto Christmas would be limited to your spending to what is in your actual crypto wallets. OK you could borrow some crypto form someone else, but they could only loan you what they actually have, and they arent going to do that because then they cant buy their own Lambo for Xmas.
I cant wait for the first Crypto Christmas!
Buy practical gifts or go on a holiday I'd say! We're so induced in the material world and 'exclusive' brands. They only come served with more issues and costlier repair fees... you just end up wishing you got the cheap one anyway. That's not really the 'experience' you want to feel through Christmas. Live for the moment, not to feel other people's realities.