British in Debt
Mar 28th 2008greenbucksBusiness & Current Events & Money Watch & World Watch
Debt that the British had incurred for the last decade has been astonishing $2.8 trillion or 1.4 trillion pounds, according to that New York Times article.
Spending more than one can earn is not just dangerous, its very dangerous. Being in debt is not a good. How would one pay for those debts? With used designer shoes? With foreign holidays already consumed? With used designer clothes? I don’t think so. Such is not the case.
Children have their own cellphones. People can get the latest models in tech gadget, clothes, cars and every thingamajig that comes out in the market. These things are outdated every few weeks, months. For tech gadgets, these are outdated by the time they come out of the market.
So what? So what if people get these things for themselves? If these were purchased using the plastic, then I personally don’t think its a good investment, judging by the way things change so fast. Better purchase these things in cash to avoid being indebted to these big companies where in the long run, it is not just the purchased thing is being paid for but even one’s dignity.
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