I think we are a bit. given the topic is our appetite for debt....I would overall agree we are way too much in debt. Both personal and our government!

Yes, but it all depends on how seriously you take the importance of work. Online or off, you need a work ethic to make your work successful for you. And you mentioned freelancing. That is harder than it sounds on the surface. You need more self discipline than if you worked a 9 to 5 B and M job, and most people don't realize that until they jump into those waters.

So I don't think it's a matter of more opportunities or less, but rather a matter of different types of opportunities and can you make up your mind as to which type you should choose for yourself.

(Are we getting off topic ???)

It's all relative though. Many people argue the young generation has more opportunities to make money much more than the older generations had. Think about all of the positives with internet and how that can improve your income. Freelancing opportunities, etc.

Isn't half the problem the number of things people expect you to have nowadays, and all the attendant bills? My parents never had to pay for internet because it didn't exist, but if I want to job hunt I have to, along with the monthly bill. Same with cellphones. There are so many extra things that its just assumed you have, and they all cost money. Combined with rises in the price of basic goods, there are people relying on credit just to keep a roof over their heads, which never used to be necessary.

Definitely hard to generalize in this case. Many people do not handle their finances well at all. Sometimes they just don't know and get themselves in a hurt of trouble, even when their good hardworking people trying to provide for their families. There are also many many cases of entitled people who just spend their money and try to take advantage as much as possible. There is a broad spectrum of these people and it has caused a serious debt problem in this country.

"I think it's more like Americans' sense of entitlement did them in. When they get their paycheck, they feel they deserve to "spoil themselves" or to "let themselves go" a little bit. No, you deserve a roof over your head and food to eat."

While many Americans do indeed have this sense entitlement, I wouldn't go as far as to imply that Americans in general, have this sense of entitlement. Many Americans are good at living frugally and not spending beyond their means. Also, IMHO, nobody really "deserves" a roof over their head or food to eat unless they work for it.

I think it's more like Americans' sense of entitlement did them in. When they get their paycheck, they feel they deserve to "spoil themselves" or to "let themselves go" a little bit. No, you deserve a roof over your head and food to eat.

Good point about the spending and three versus four days. The sales can happen and the money will be spent, so why does it have to take place on a major holiday? I don't understand what was so wrong with Black Friday actually taking place on Friday. And I wish these stores with their ads saying we should all come out and shop their Black Friday sales on Thursday would realize how ridiculous it sounds. Then again, maybe it's not so ridiculous since people do leave their dinner tables to go participate in the madness.

FRUGALFRAN you make and interesting observation about stopping the celebration of Thanksgiving and spending the time shopping. If I was King all stores would be closed from midnight to midnight so everyone chills and employees can be with their families. In my state they would call it a Blue Law. We would all live without the extended shopping. In fact I read where several small proprietors said they are open but it really amounts to taking three days and spreading the same spending over four days with the extra cost of being open one extra day. Very interesting. Then with the pending Bankruptcy of Sears/KMart (Fitch Reporting is forecasting 2017) and who knows with Macy's (they are hurting) where is it going to end? As a kid the stores were closed about six major Holidays a year and some how we made it work. Ooops ... a rant ... sorry!

Wanderer, I could easily join you in an extensive rant about the commercialism of Christmas. I know I drive my husband crazy as we approach Thanksgiving every year and the Black Friday commercials start. I'm wondering at what point we're just going to stop celebrating Thanksgiving in favor of shopping all day long.

Short of a "rant" Christmas is not all about who can give gifts ... it is about people and thanks to marketing that is ever lost. I will stop as I feel a rant coming on.

It's beginning to be a Christmas tradition of sorts isn't it?

People tend to think that if they can afford the card payments, then they can afford the gifts.

Breakinger wrote:

FrankN wrote: I agree, but credit card debt is a very very slippery slope. You really have to be careful and diligence in your charges and payments. Credit Card interest is so high, you can easily get carried away without even knowing it.

I completely agree with you FrankN. It is very easy to get carried away with credit cards especially around this time of the year. I think this is where most people get into trouble. It's simple to just charge whatever it is you are buying and then worry about it later.

I saw a statistic the other day that said 30% of Americans exclusively use credit cards for Christmas shopping. I can understand charging one big thing or charging to get the benefits of a rewards card (as long as you can pay it off in January), but the implication of the statistic was that 30% of Americans can't afford what they're shopping for. That's just crazy.

FrankN wrote: I agree, but credit card debt is a very very slippery slope. You really have to be careful and diligence in your charges and payments. Credit Card interest is so high, you can easily get carried away without even knowing it.

I completely agree with you FrankN. It is very easy to get carried away with credit cards especially around this time of the year. I think this is where most people get into trouble. It's simple to just charge whatever it is you are buying and then worry about it later.

I could not have said it better!