Social Pressure: A Cause Of Credit Card Debt
Author: L. Sampson

There are many reasons why people go into debt. Some say it is
because of unexpected expenses, others say it is just simply
too expensive to live these days. However, one of the most
common reasons people sight for getting into debt, is the need
to feel like they are keeping up with everyone else. Social
pressure in other words, leads many people to unnecessarily
spend money on things that they don't really need so they can
feel like they fit in. It is an age old cycle with devastating
consequences.

Socializing your money

All around us, people are spending money. Everyone has that
friend who always wants to pick up the tab for dinner or after
work drinks. Some feel that people do this just to be nice,
others feel that people do this to show off money. Ultimately
it causes others to feel that they need to do the same. It is
the same thing with vacations, cars, clothing, and pretty much
every other material thing in life; every time you think you
have what you want, someone upstages you. "Keeping up with the
Jones's," is in fact a very real problem. However, people don't
often stop and think how the Jones's are actually affording all
that they have. Do they have a lot of money? Or do they just
put in on credit cards like many of us do? If that is the case,
all we are doing is trying to keep up with the Jones's debt, a
game which should be left alone.

Shift your thinking

Instead of getting jealous every time your neighbor gets a new
set of golf clubs, think about how much you would pay in
interest for those clubs. In fact, maybe he is doing the same
thing. New stuff doesn't sound nearly as good, when you
consider how much you are actually paying for it when you
charge it to a credit card. Instead, save up for big purchases,
they will be much more rewarding in the long run. While you are
retired, living a life of leisure, your neighbor is probably
still working to pay off all of those toys he put on credit
cards.


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