Is debt normal and sexy?

Debt is not sexy

It should be obvious that paying off our credit cards on time and in full is a must, but if we all did that then Gail Vaz-Oxlade and I wouldn’t have needed to do the above video.

It’s simply amazing how much debt is out there.

Seriously, is debt normal?  When did it become sexy to talk about?  Debt seems to be just an accepted thing now and that should be a serious concern for us.  Just take a look at this conversation that occurred after I originally tweeted the video.

I’m not trying to single out Barry here but having the attitude that debt is normal, or everyone has debt so it’s okay is the last thing we should be thinking.

Related: 6 Things we need to know about credit cards

Debt is not something to brag about

Recently I’ve noticed people are happy to talk about their debt as if it’s an achievement, almost like it’s a status symbol.  They are even starting to brag about the big amounts they owe.

Take for example a person I came across who got a new job, within a few weeks of getting this new job he was convinced he needed a new car.  So off to the dealer he went and within an hour he had a brand new car with a purchase price of more than a year of his salary.

Could he afford it?  Of course not, but the car salesman was more than happy to offer him a longer lease period to bring his monthly payments down.  Less than 2 weeks later he was telling all of us how he could barely afford the payments, and how his insurance went up since it was a luxury car. But as far as he was concerned, the car was an investment in his comfort.

Let’s be clear; car+investment do not belong in the same line.  He was literally bragging about the debt he had just taken on.

Is Debt Normal

Having an affair with credit

Another thing I’ve heard a lot of people bragging about these days is the cost of their wedding.  I know weddings get more expensive every year but it seems like couples have just accepted it and no longer care about the costs.  I know of two couples who have decided to put their entire weddings on credit.

Yes you read that right, their entire wedding is being paid by credit.  They have no idea how they’re going to pay it back, but I’ve been assured the night will be an enjoyable adult affair to remember.

I try not to judge people but, ARE YOU INSANE?  Having credit card debt is not normal, or should we be bragging about it.

Now I see why Gail gets so frustrated on her shows.

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