For those of you who can’t manage your finances and have accumulated loads of guff in the process.
I have no sympathy for people who whinge about how much debt they’re in and then boast about how much “cool” stuff they’ve just bought.
There’s one example of a guy I work with (you know who you are) who regularly gets himself in to huge amounts of credit card debt and then mummy and daddy pay it off. There’s usually a period when his pay goes to them and him getting some pocket money but this is pretty pointless when he asks for something and just gets it.
Makes me sick.
What makes it worse, he doesn’t learn anything from this experience. He just goes out and runs up more debt.
More and more often you see people just like him who have no concept of money and what it’s actually worth.
So in an effort to teach people not to do it again we should set up Debt Camps where the guilty party is marched off and worked until they repay their debt. No pocket money, no spending money, just a generic set of clothes and basic meals eaten in a small barely furnished room.
I think with a bit of work I’d be a good idea.
BigAl
We already tried those debt camps. They were called “debtors prisons” – http://www.myvesta.org/history/history_debtorprison.htm. Didn’t work out so hot.
You should join the Great Credit Card debate at CreditBloggers.com – http://www.creditbloggers.com/2006/06/the_great_credi.html
What an excellent idea! I can’t stand it when people go on about what they’ve “flashed their cash” on, but then complain they have none left – and especially students who use their interest-free overdraft for it. That’s not what it’s for! Students should be forced to have an interview when they want to use their overdrafts if you ask me…