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Chapter 5 - FINANCIAL SLAVERY       IN THE 21ST CENTURY

Credit card addicts

 

Consumers become addicted to credit cards as addicts do to drugs. This they do with a small income.

It is wishful thinking.

 

They are then buried in a debt that is much larger, disproportionate to their income. They invited frustration into their life.

 

The stress becomes gigantic.

 

They are in a horrible financial trap, and obviously, a debt almost impossible to resolve. 

"Charge it!" "Float it over the years" is an expensive game. That's the mentality. Play now, pay later.

PLEASURE NOW, FLOAT, FOR NOW, SMALL PAIN NOW, BIGGER PAIN LATER!

Where is the scam of the credit card?

It is a psychological scam. It is a tricking of the mind.

Sad on Couch

7 EXCUSES CONSUMERS GIVE AS TO WHY THEY USE CREDIT CARDS

Excuse #1:  Unexpected financial hardship. Unpleasant surprises appear from time to time in our lives.

Excuse #2:  Compulsive emotional buying. At the cashier register, "Would you like to apply for a credit card today? It doesn't hurt, plus you get a 10% off from today's purchase." Many do admit with shame, "I am a compulsive buyer." I have also heard, "I know I need to stop but can't," or even a more fabulous excuse,

"I charge the cards, and my boyfriend, my husband, pay for it." 

Excuse #3:  Helping a relative or a friend. "Let's just put it on my card." 

Excuse #4:  Many options, many cards. The one with the biggest available credit, we can use that one. "Heck, I have many cards. We can use this one." ("Did it go through?" ̶ All worried and anxious) 

Excuse #5:  I am broke and cannot pay with cash. I need to keep my money, so, I need to put my purchase on credit and pay later. Really? And how are you going to pay your credit card bill later? Just the monthly minimum payments? Good luck then paying for the next 18 to 20 years. Good luck being taken advantage of by paying double, triple or more, than what you initially charged. 

Excuse #6:  The offer came in the mail. This one is the mass media advertising excuse. Direct marketing mailers are sent to households in the bulk of millions of mailers delivered by the U.S. postal service. The mailman brings the plastic instruments of the scam to the residence. Consumers are also enticed through multiple channels: online banners, TV commercials, radio spots, magazine advertisements, billboards, grocery shopping advertisement spaces, bus bench, the bus itself above the seats, taxi advertisements, and even advertisements in the bathrooms right where you urinate, in the pee stool!

Can you imagine an idiot getting a credit card that he saw advertised when peeing?   It happens!

Excuse #7:  I have had my credit cards for years. My credit card is tied to my bank account, where I get my check directly deposited from work. 

"Nothing in all the world is more dangerous than sincere ignorance and

                                                                            conscientious stupidity."   (Martin Luther King Jr.)

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