Wednesday, April 13, 2011

This is America. This is our piggy bank.

Here's a little parable:

We have a family that is spending $38,200 per year. The family’s income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
So, what makes more sense: do you attempt to cut back your costs to offset your ever-increasing debts, or do you get a job that pays you better?

Via BB.

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