RE: 20 Minute Blog a day - do some people just deserve to be homeless
The biggest scam is that one is taught from a young age that they need to be able to get debt. Debt and money fights are the biggest destructive force in families and marriages.
Example the typical "credit" card has a 23% interest rate and the typical card holder has $10,000 in credit card debt. That person is paying 23% more for every good and service then someone that does not carry a credit card. If you hold a balance and you charge $10 in gasoline you in effect spend $12.30.
I don't have a credit score and I only pay cash for things. If I dont have cash specifically for what I want to buy say $100 for food and the till comes to 105 I put something back for the $5 as it was not budgeted. Strict budgeting and living below ones means is the key.
No one deserves to be homeless, and the poor are the ones hurt by predatory lending, credit cards, & pay day loans. At least a pawn shop is less dishonest in that if you don't repay the loan, you only loose the stuff you put up as collateral.
@motinkergnome I do the same thing budget-wise. I learned my lesson with credit cards a few years back and just gave up on them. If I can't pay for it with cash - I don't get it period. I've got so used to living this way that I would never go back to that trap.. I feel awful for those who are still stuck inside that revolving door system.
What is scaring me is the lack of support those without credit in good standing really have. It is getting harder and harder to do anything without a credit card.. and obviously like this article is all about where do you live when every landlord requires a 600 credit score? Finding a rental becomes like finding a needle in a haystack :-[
thank you for reading and commenting!