Does Bad Credit Affect our Economy?

Save Money - Green ButtonDid you think that your bad credit score might affect our economy or somebody else? If you thought this, your thoughts were correct. Let’s use some logic here. If your credit score is bad, this means you did not pay someone a debt owed which may have caused that company or person not to pay somebody else. I am sure people typically don’t think of this, but your bad credit and bad decision making caused a big part of what is currently going on in our present day economy.

When matters get bad it’s so typical of everyone to blame someone else. The fact of the mater is you are responsible for your own actions. Don’t blame it on the economy, or that you lost your job. Everyone is supposed to have 6 months savings in the bank for job loss or issues resulting in a down economy. Any financial advisor will tell you this. Like I have said in other articles we need better education of financial accountability in our schools and homes.

When people don’t pay there bills it affects everyone. Remember this, and don’t buy stuff you cannot afford or don’t need. I know we live in a materialistic world, but if you think about it, all this stuff really is not ours. We are just stewards of it. The bad decisions you make will ultimately affect other people. Before you embark on bad decision making, think again how that might affect others down the road.

I know the current media is making the banks out to be the bad guy, but ultimately we are responsible for what we do. Remember these companies that lend money are in business to make money, not to give you loans and credit cards for free. If you don’t want to get in debt which ultimately causes credit issues, don’t get stuff you cannot afford to pay back. I would recommend getting with a financial advisor today to get your finances in order before it’s too late.

Author: Mike Clover

Your resource for credit reports, credit cards, loans and ground breaking credit news.


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