Maxed Out

This No-Spend November surprisingly isn’t as hard as I imagined. Maybe next week after I’ll have PB&J and cereal coming out of my ears it’ll be a different story…

Anywho! To find a way to save some money I’ve cancelled my cable, so it’s been out with the Bravo and in with the Netflix. Which lead me to the documentary, Maxed Out.

11.10 maxed_out

I highly suggest watching it! Credit Cards companies are just that–a company. It made me sick to my stomach realizing how much money I am giving them solely in interest rates, and people all across the country are in similar situations. There’s certainly a way to play the credit card game (pay off the entire balance at the end of each statement period to avoid the increasing interest rates…but really, how many people play by the “rules”?).

A frightening statistic they bring up in the doc is there will be more people that claim bankruptcy in a single year than will graduate college, get divorced, or get cancer. It really made me think of how I (personally) have spent so much to ensure that outside looking in I have it all together. And I’m not alone, one quote that stood out to me from the doc was:

“Have you seen the new card that they’re talking about putting out now-where you can get a credit card against your pension account, so that, when you go and charge it, it automatically, if you don’t pay, will be withdrawn from the money you’ve put aside for your retirement? This is one more way that we’re trying to string together with chewing gum and bailing wire to keep the American family looking like it’s afloat long after it is really sunk with debt.”

For so long, I would let a credit limit dictate what I was capable of spending and paying off in a reasonable amount of time. This doc made it very real to me–credit card companies are not financial advisors. We shouldn’t let that credit limit fool us into thinking that’s how much we should be spending.

I. Want. This. Debt. GONE!

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