I agree with Maggie completely. It astounds me how many people are irresponsible when it comes to personal finance. Maybe they are taking lessons from the goverment (but thats anothery story)
According to a BusinessWeek report, total household debt -- including credit cards, car loans, mortgage, student loans, etc. -- topped 100% of disposable annual income last year for the first time ever.
On average, we carry eight cards per person and have a balance of $8,400 in credit card debt. Twenty percent of our cards are maxed out, according to CardWeb.com.
Quote:
"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
-- from David Copperfield, Charles Dickens
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A simple lesson for personal responsiblity. Misery, in this case, is self-inflicted.