Are you in a lot of debt?

@SW-User Australians have $45 Billion in Credit Card debts. Living above our means. Buy now, pay later.

@Gusman Let's do the math for Canada. This must only include adults obviously, and I don't know the actual numbers of adults in Canada but if our population is at about 32million, of those 21 million are likely adults... so 21,000,000 x 34,000 = approx $714 billion. Now this includes car loans, credit cards, lines of credit and more (not mortgages though)

Isn't that culture now? Buy now, hopefully pay later?

This as companies no longer offer as much matching for retirement benefits. Scary future.

@Gusman People have lost the art of working hard and waiting patiently to collect money to get a thing they desire. A true feeling of accomplishment even after years of wait in my opinion. Guess it’s opposite now

@SW-User Sure, That's why so many people end up poor. Greed. I want it now. They lose their house, car and sundries. Only themselves to blame in many circumstances.

@Gusman Often, but I'm not sure the financial systems like banks and governments hold no responsibility (on a societal level)

@SW-User So true, while I was growing up I saved until I could afford stuff. Have never had a credit card. Paid cash for my last car.

@SW-User Yes, the banks have made it too easy to borrow money. Suckered people in, then repossessed their homes when they defaulted.

@Gusman Well they profit from doing so and it's rare they lose. That's why I brought up government and banks as they could manage this better which is not to say the consumer has no blame.

I see people who make $14/hr with a new phone every year that costs $1000. Umm?

@Gusman same here. There was time when I hit the rock bottom while studying but never own a penny to any one. I didn’t even bought a shirt for two and half years, no cell phone either. Just basic. Time has change and I still keep it basic and deals in cash. I love this journey of life. The only thing which actually keeps me going- being self sufficient. Glad to hear your thoughts 🙂

@SW-User Yes, many people cry poor while they have every accoutrement in life.
Gimme, Gimme, Gimme, I want, I want, I want........to keep up with the Jones.

@SW-User My mantra is, if you can not afford it, get the cheaper version, save or go without. Simply economics.

@Gusman Which to me only speaks something is lacking right now in what people are looking for.

@SW-User I believe people do not know what they are looking for. But they do not want to look like a "Loser" with nothing lest they be left without any "fake friends". Peer pressure destroys many people.

@Gusman Maybe. I don't ask for much, honestly yet I have debt. (bad decision making) I do know though when I'm unhappy I'm more inclined to make an impulse purchase which might speak volumes.