Why Do People Live Way Beyond Their Means?

Question by Im not here: Why do people live way beyond their means?
I understand owing money on a house or even a car, but why are people so in debt? We (our family) only spend money on things we can buy outright, no credit. Sometimes we have to save for several months, even years, to buy an expensive item, even though we could have put it on a credit card. Are we the only ones that do this? Many of my family members have even gone through bankruptcy and now they are back in debt! Why won’t people put stop their compulsive buying and credit addiction?
We own 1 credit card but hardly ever use it. EMERGENCY only like when the car broke and it cost $ 1500 to fix that was put on credit, but paid off as soon as we could switch money from one account to another.
If you make $ 60,000 a year and have a morgt, car payments, numerous credit cards from all the major credit card companies, jewerly stores, discount stores, hardware stores, Conveinent (gas) stores, high-end retail stores, furniture stores and whatever else gives away credit cards, how is it possible to be able to pay these cards off?? How can you have a savings? What about your children college funds? What if you get into some sort of trouble and can’t work to pay these bills? All of the things you bought on so called credit aren’t paid for, so really are they yours?. At what point does one realize, if you can’t afford it to pay for it now OR can’t pay it off within a few months, you shouldn’t buy it! My grandparents lived without credit and I think we all could revise our lives and do it too! Maybe people don’t understand how good it feels to walk away from a store and know you OWN that $ 3,000 living room set. I don’t ever have to worry about paying for it later!

Best answer:

Answer by kittymoon129
greed, thats it pure and simple once we get to a certain level we want more and more x

Give your answer to this question below!