Credit cards are only about 50 years old. in that short time, they have changed the landscape of personal finance to the degree that they are seen as a “way of life.”
The number of credit card users has increased dramatically from the 1970s to the point today where they are seen as a necessary crutch to maintaining a lifestyle. Credit card companies have discovered a gold mine where they can charge 20% interest. and they have marketed this concept so well that debt is the most aggressively marketed product in the history of the world.
Just think about that. Before the 1950s, credit cards didn’t exist. Now, they are perceived as a “way of life,” “normal,” and just part of the process of becoming “successful.”
But if you do normal stuff, you will get normal results.
Normal is that foreclosures are at an all-time high in the US.
Normal is that there were more than 1.5 million bankruptcies in 2010.
Normal is that the number-one cause of divorce is money fights and money problems.
Normal is that people are stressed out, freaked out and underproductive at work because all they can think about is
Visa and Mastercard, who calls them 20 times a day.
Normal is mediocre, average, bland. You don’t want to be normal, do you?
Find out what normal is, and run the other way as fast as you can.
Do things like build an emergency fund, invest in your kids’ education, save for retirement or pay off your house. Everyone says those are great ideas, but few people actually put those ideas into practice.
Get crazy. If you’re in a bunch of debt, get angry about it. Stop telling your kids that debt is a tool. Instead, get a hammer and beat the crap out of your credit cards. Stick them in a shredder. Introduce them to your power drill. Do whatever it takes to stop being normal when it comes to your money.
Definition of Insanity: Doing the same thing over and over again and expecting a different result. Stop the insanity and stop believing the myth that debt is a way of life.