Ever heard your parents or grandparents say “When I was your age …..” or “Its not how things used to be….”? We could actually learn a lot from our parents instead of rolling our eyes and making cute comments.
When mum or grandma were younger and they wanted a new car, do you know what they did? They saved up. When they wanted a new winter coat or a holiday? They saved up. Dad didn’t run down to the bank for a loan. Granddad didn’t whip out his Mastercard. They saved up.
The age gap between the generation is more than years… it has become an attitude gap. The newer generations think nothing of putting everything on credit and worrying about it tomorrow. The problem with that philosophy is that tomorrow is here and now we all have to worry.
Credit card debt has spiralled across the nation over the last decade and now with the GFC an unwanted reality, many Australians are finding that they simply cannot meet their credit commitments.
“We have seen a massive increase in the number of enquiries,” says Natalie Levett, Associate Director at lifeafterdebt.com.au. “The overwhelming majority of people are struggling with credit card debt and other unsecured loans”.
With unemployment rising, job security lower and the threat that “things have to get worse before they can get better” from the Government, it looks like this is a dire situation set to continue and those people struggling with their debts need to get help.
“We can assess your situation over the phone and discuss what options may be available to you,” Natalie says, “don’t do another generation trick of ‘sticking your head in the sand’ because these problems won’t go away if you don’t tackle them head on”.