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Sad Credit Card Story

June 18th, 2008 at 05:30 am

Today I was at a workshop for teachers. Although I'm a soon-to-be-retired administrator, I will continue to work a few days in the fall as a consultant, focusing on supporting new teachers.

At lunch I sat with a group of first year teachers and the conversation turned to vacation plans. One young teacher, XX, shared that she and her husband were taking their three-year-old son to Disneyland… a very nice plan, I thought, until XX shared that they were charging the whole trip because they had no savings AT ALL. However, she said they “deserved a great vacation” because they had worked hard all year.

A few minutes later, XX confided to me that she was concerned about how much they owed on their credit cards (“four figures and growing daily”). She didn’t know where it would stop but she knows it has to since they want to buy their first house. XX was proud that each month they paid a “far more than the minimum payment but the balance never seems to go down.”

I told XX to consider connecting to SA as there are many people in her situation who have succeeded in doing exactly what she wants… getting out of debt and taking control of their finances. Sometimes, what we need is moral support to get out of the cycle of digging deeper into debt. She seemed interested and said she would “check it out.”

Coincidentally, I just saw a piece on CNNMoney.com about ten success stories of families who “cut bad plastic habits.” Here’s the link:

Text is http://money.cnn.com/galleries/2008/pf/0806/gallery.sans_plastic.moneymag/index.html and Link is
http://money.cnn.com/galleries/2008/pf/0806/gallery.sans_pla...

5 Responses to “Sad Credit Card Story”

  1. baselle Says:
    1213763918

    #3 has a blog right here. Big Grin

  2. Analise Says:
    1213764197

    You're right...I hadn't made the connection (no pun intended) ;-)

  3. greengirl Says:
    1213764580

    yes that is sad. some people just can't make the right choices unless you give them a big kick in their backsides. example being my parents! lol.
    oh well, i guess i turned out alright though!

  4. cindyg86 Says:
    1213796041

    Thanks for the link to the article. Very empowering for those of us climbing out of debt!

    It is unfortunate about that teacher. I feel as though there are too many people in this world who do things because they think they deserve them. While they might deserve them, I think they would appreciate the trip more if they were able to save for it. Vacations are more enjoyable when they don't throw you into (more) debt!

  5. CRA Says:
    1395773076

    This is a sad story, but one that we hear too often. People living above their means and not saving enough money. Credit spending is a sure fire way to end up going bankrupt and then having to spend years trying to repair credit issues.

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