Everywhere we turn, the word credit can be seen,
flashing huge dollar signs right before our very eyes.
Living in a materialistic world it is hard to keep up with
the Jones and so we revert to credit. Credit makes the
world go round at the moment, where personal debt far
outweighs personal wealth.

We jump on the credit bandwagon by applying for
credit cards, for personal loans, for interest free terms,
for mortgages, for an I.O.U. at the corner store we
even ask for credit on a couple of cigarettes from
friends just to get us by until next pay.

But ask yourself this; where does it all end? Suicide
rates are on the increase, families are breaking down
from financial stress, and people are living below the
poverty line yet we still choose to live on credit. It is
quite ironic to note that the definition of credit mentions
the word “defer”. Yes, we are deferring our payments
whilst we enjoy the benefits of such credit, but arent
we also deferring our lives as the bills pile high and our
disposable income is reduced to nil. Arent we deferring
our opportunity to really live life to the fullest by having
to work to pay this credit off?

Meanwhile credit agencies place the debts in the
hands of collectors who hound you for payment, who
promise that you will never be granted credit again,
who make your life a living hell and encourage thoughts
of running for the hills. Most dont run but they probably
resort to never answering the phone again either. Is
that living? No, probably not but it is all done in the
name of credit.

Surely, credit agencies should have societal
responsibilities to ensure that those that apply for credit
actually do have the means to support the credit. An
application for credit could be full of bogus information
and would still get approved. How many times do we
have to write down a reference for our employer but
later find that our employer has never been contacted?
Society really has a lot to answer for! Why was it ok to
live within our means and to do without luxuries in
years gone by, but now in the 21st century it appears
to be totally unacceptable to live without having some
form of luxury item on credit? What ever happened to
budgeting and saving? Ultimately it really is up to the
individual concerned to make up their own mind about
what they will spend and what they will save, however
peer groups, the media and family pressure can often
be very influential.

About the author:
parone tamont is the owner of
Credit Rak
which is a premier resource for credit information.
for more information, go to http://www.creditrak.com