Are most Americans living beyond their means? Is there, too much personal debt?

In the past 20 years, I have seen a dramatic increase in the amount of credit that is offered. I get at least 2 or 3 credit card applicantions in the mail a week and receive regular phone calls about home equitiy loans and debt consolidation. Back in 1983, I had to establish credit by getting a department store card, before Visa or Mastercard would offer me one. I had a full time job at the time and wasn%26#039;t carrying any debt, either! Now, college kids, who work part time can get major credit cards!

I live within my means and do not carry more debit then I can handle if I lost my job tomorrow. We paid our home off in less than 15 years, we had a 20 year loan and made extra payments. I don%26#039;t have the numbers in front of me, but we saved a lot of money by doing that! Anyway, my advice to all Americans is to limit your debit and live within your means.

sanrun

Are most Americans living beyond their means? Is there, too much personal debt?child tax credit

Way too much debt.

http://blog.360.yahoo.com/blog-pOypG0szd...

Are most Americans living beyond their means? Is there, too much personal debt?

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You can visit http://www.cashguru.info and find very useful tips and several articles on debt consolidation. Report It

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Yes.|||I totally agree. People abuse credit and that is why most people have stuff they could really live without. The only credit card I have is a JC Penney card and that is as far as I will go.|||Actually,Honey,to get ahead in this world,you must not live %26#039;above your means%26#039; or even, %26#039;within your means%26#039;,you must live %26#039;below your means%26#039;! It has worked for me %26amp; now,at age 66, I%26#039;ve got more money than I know what to do with! Do you know a nice Democrat lady I could spend some of it on?|||yes|||Yes, there is too much personal debt %26amp; so the next generation

has already been named - generation debt.|||I think there is too much debt because people think they need to have it all and just dont know where to and when to stop. And also cost of living and just cost of things is more...but if you save and plan and dont buy those things that are unneccesary but people dont think like that. they figure that if they have that limit on that credit card they can just spend it some just dont think and realize that it needs to be paid back and now with the option of bankruptcy they think thats the answer and they dont realize that it ruins your credit just as much! My fiance and i live on one income well until tomorrow we have been for over a year we have a 6 mth old and still find ways to pay all our bills on time pay for my college and provide for our son with no credit cards loans etc..... so to answer your questions yes to both people jsut dont think about the later only the now.