The media is rubbish.
I read MSNBC and this headline/byline stood out to me: “$60,000 in debt, and nothing to show for it: Mary Uhazi is drowning in a sea of debt that she built up slowly over more than two decades of easy credit. But now she’s worried she won’t be able to pay it all off.”
Does anyone read that and boggle a bit? First of all, I have to laugh. This woman used credit for 20 years and accumulated $60,000. Okay, that is mind boggling but part of me accepts that this, while an extreme case, does happen and many people do find themselves swimming in credit card debt. The part that made me laugh was this: But now she’s worried she won’t be able to pay it all off.
Is it just me or does anyone else think she should have hit that point a long, long time ago? The article goes on to say: “Now she worries she won’t be able to pay it off because of the recession, which has led to a reduction in her salary and an increase in her credit card bills.”
Seriously? The recession has caused her to question if she’ll be able to pay of $60,000 in credit card debt?! I just have to laugh. People, the recession is not a catch-all excuse for the failures (human though they may be) of personal responsibility in spending. Even if her credit cards completely eliminated her interest rate and even if her state job’s income was not decreased due to furloughs…I’m thinking that Mary should have had some doubts long ago about her ability to pay off this mountain of debt. In fact, it would have been helpful if she’d had those reasonable thoughts before she incurred the debt.
This also caught my eye: “She’s thought about trying to get a second job in the evenings, but such jobs are hard to get these days, and she worries about taking a position away from someone else who has no other means of income.”
Am I reading this correctly? She just said: “I thought about trying …but it sounds hard. And, from the goodness of my heart, I don’t want to take the job away from someone else.”
And this: “Financial goals she once dreamed of, like buying her own home, have been put off indefinitely.”
Owning a home isn’t some *impossible* dream. You have to take steps to do it – and I suspect she never seriously looked into those steps because, at some point, she would have learned that having that much credit card debt was going to make her home owning dream that much more of a fantasy. I think her home buying dreams were probably put off $40,000 ago.
This reminds me of my first entry on the media – where some spammer sent pictures of women having sex with animals and the news group spent all this time and money tracking down the spammer. No, media, NO. You go find the woman having sex with these animals because 1) you have her picture and 2) people have more serious questions about her than some dude hitting the send button.
BAH.