Comments on: Too Much Credit: A Stunning Graphic on Personal Loans & Credit Cards

By: Why Student Loans Suck… [Infographic]

Why Student Loans Suck… [Infographic] — Mon, 11 Apr 2011 21:26:55 +0000

[...] the past you’ve enjoyed ones on health care reform and the “too much credit” trend – today I hope you’ll take the time to dig into this beauty by College [...]

By: Terry

Terry — Thu, 19 Aug 2010 16:08:31 +0000

By: MoneySolve

MoneySolve — Mon, 10 May 2010 13:11:31 +0000

Wow, the US really accounts for 40% of the world credit? Terrifying stuff!

Here in the UK there are now more credit cards than there are people so it doesn’t seem that we are too find behind the States!

I still maintain that so much of this could be stopped by making credit and money management classes compulsory in schools! Children leave school without ever having been taught about finances and they walk out into a world where it’s all too easy to get a credit card! Why should we be surprised that the result of that is worryingly high credit card debt?

By: Amanda

Amanda — Mon, 26 Apr 2010 18:53:48 +0000

I didn’t reaf every single comment but I wondered if anyone brought up this idea about debt in the US. I live in Austin, TX. When you pay with cash in the US, it has a very negative connotation. People see you as “poor.” The insane consumer culture that focuses on spend, spend, spend and tells you that plastic is your best friend is labeling the smartest consumers (those that pay in cash) as “poor” and to be looked down upon. It’s strange to think that I pay for groceries in cash and my best friend sells a house every 3-5 years so she can pay off $10-20 THOUSAND in credit card debt and add that debt to a new mortgage. According to US culture, she’s “well-off” and I’m “poor” even though my net worth is triple hers. So backwards.

By: Fair Trade

Fair Trade — Sun, 28 Feb 2010 10:57:59 +0000

Sometimes a picture is worth a thousand words… if we assume food spending is a good indication (as I’m sure was intended as such) then we see just how little of our spending in the US and UK is absolutely necessary.
It would be interesting to see the credit card debt factored in as well as spend.

By: vince

vince — Sat, 27 Feb 2010 12:35:34 +0000

whoah! Thats really an eye openner.
But I wonder if that also took into consideration that Americans are also the largest consumers of global production.

By: JN Urbanski

JN Urbanski — Mon, 08 Feb 2010 14:14:50 +0000

I’m surprised that people are surprised to be honest! In the last thirty years, maybe more, the entire spending ethos of the West has evolved into a debt-based one. It has ruined the economy. This recession has been a blessing in disguise, if it overturns the “buy now, pay later” idea.

By: Sunday Link Love- Snowboarding Edition | Ultimate Money Blog- Save Green and Live Green!

Sun, 07 Feb 2010 23:02:04 +0000

[...] are some links to posts I really enjoyed this week: -Too Much Credit @ Man vs [...]

By: Jamel Finsurance

Jamel Finsurance — Sat, 06 Feb 2010 12:19:17 +0000

Americans use their credit cards to buy everything everywhere, If you use your credit card for all transactions it gives you the ability to spend money you don’t really have. If Americans have the ability to spend more than you really should that had lead to allot of American’s to much consumer debt.

By: Adrienne

Adrienne — Thu, 04 Feb 2010 21:02:40 +0000

I spend between 2-3k a month on my credit card, but pay off the balance every month. I agree with Don@MoneyReasons. I use the card to get discounts as well as protect me when I make purchases. And if my purse is stolen – a card can be canceled…cash cannot.

I can see that a lot of people are angry with the credit card companies for making it so easy to get into debt – but ultimately it is not the fault of the credit card company. You made the choice to get the card and take advantage of it. The credit card company is providing a service. You can take it or leave it. It comes down to you making the right choice with your finances. Teach your kids about money/saving/etc early on!!