Ian Royle

Currently, saving is unpopular.  Credit is the rage.  There isn’t anything wrong with credit as long as those being given credit are reliable.  It used to be credit was given to those who could be expected to return the borrowed funds with interest.  For the most part credit was available to those who had means.  Now though credit is available most often to those least in a position to accept it.  The point for the companies offering doesn’t seem to be a return of borrowed funds with interest, it seems to be interest into perpetuity.  In the instant generation we live in now you don’t have to wait very long for anything.  If you can’t afford it now simply fill out the credit application and wait for the plastic to arrive in the mail.  Eventually, following this pattern though entire incomes go to make payments for money borrowed for devices no longer used and events now forgotten.  It would be a good time to return to the previous reason for credit: the purchase only of necessities that are very expensive such as shelter, or assets, both durable and perishable necessary to earn a living, such as investments and in some cases vehicles.  Our current practice (which isn’t so current especially if you have ever read Charles Dickens) must cease if we are to establish a firm future for ourselves.  Save when others are not so that comfort can be had when you need it.