You suppose people are getting the idea?

[rforsythe]

http://www.9news.com/money/article.aspx?storyid=115266&catid=344

Savings are up, credit card usage is down. You think people are finally getting the idea that plastic is not free money, or will society be back to its old tricks in no time?

[milehicitygirl]

I think people will go back to their credit card abuse once things start to "appear normal" again. . . .creatures of habit.

[leadbedr]

If you know how to use a credit card, they are great.
I have one that I carry a very low balance on, but use it for big purchases then pay it off that month.
Its great to get cash back or free miles.

[dm_gsxr]

Nah. Just like buying motorcycles and Prius', as soon as things balance out again, they'll be back to credit cards and NINJA home loans.

Carl

[Nick_Ninja]

Nah. Just like buying motorcycles and Prius', as soon as things balance out again, they'll be back to credit cards and NINJA home loans.

Carl

I'm applying for a NINJA home loan ---- soon ----- very soon :scramble:

[McVaaahhh]

As soon as people start to think that their homes can be used as ATM's they'll go back to maxing out the credit cards and then using home equity loans to pay off the cards.

With that said, things may be different. The housing market is not likely to grow the way that it did the ten years prior to the downturn. People will still see value increase, just not 20%/year like the last time.

I personally think that overall as a society we will at least have some savings (it was at -1% in 08 ).

I guarantee that half the homes that were foreclosed had 2 cars parked in the driveway that were less than 3 years old. :rolleyes:

[Devaclis]

We don't have 2 cars because we don't need them. I don't have 2 bikes because I don't need 2. I don't have any credit cards because I don't need them


I am still horrible with money. I was brought up that way. What kind of change are ypu expecting from people who live on borrowed money and do not really think they are doing anything wrong?

As long as there are lenders people will use them. Until you have to pay cash for everything credit will continue to be abused.

No I don't think people have gotten a clue. They have blamed bush and wallstreet and now feel that they have been avenged

[milehicitygirl]

Stupid is as stupid does ! :slap:

[asp_125]

Consumers have short memories.

[kawasakirob]

They have blamed bush and wallstreet and now feel that they have been avenged

Yep