The Misuse of Credit is what?

I just read an article in the Harvard Business Review on Debt that was very concise and well-written. (http://hbr.harvardbusiness.org/2009/07/selling-to-the-debt-averse-consumer/ar/1) It talked about the "monthly payer" - the person who doesn't care how much something costs, they just care what the monthly payments are going to be. This monthly payer is a big part of why the world is in such financial trouble (but don't think for a second that it's the only problem). Just when I thought the article was spot-on, I read the last sentance: "Misuse of consumer credit is gone for good."

Are you on crack?!

Ya, right. Do these people think before they write? Nothing is EVER gone for good. I don't care if it's finance, food, or romantic smoochie stuff - very few people learn from the past, and societies as a whole rarely if ever learn from the past. It's a group-think kind of thing.

The question is not IF we'll get into another financial meltdown - but WHEN, and whether or not you'll be prepared.

Don't be a Monthly Payer. Be a cash payer. Now THAT'S sound advice. http://providentliving.org/content/display/0,11666,7417-1-4006-1,00.html