Seth Godin observes there are more than 3 million millionaires in the U.S. (8 million if you count real estate). In the same post, he says the average household has $8,000 in credit card debt.
I clearly remember when there was no such thing as a consumer credit card. You paid for the things you purchased with cash or a personal check. Perhaps that’s why I have never failed to pay my credit card bill. As soon as the bill came in, I paid it off. Period. And that was true when I was living on small town DJ money back in the early 70’s.
I consider myself fortunate that I come from a time and place where you paid your bills and you paid them promptly. (And if you feel the need to email to tell me I’m an insensitive prick, please attach a scan of our credit card bill. We’ll go over it together.)
I’m just saying… the way we view debt has changed. For good reasons or bad.