Cash Stops the World

OntarioVanMan · Jan 6, 2007

While watching a TV the other night, this writer was shocked to see a Visa commercial that shows how paying in cash disrupts the flow of life. Though the commercial was fun and humorous to watch, the deeper implications of it are no laughing matter!

Americans are becoming more and more in debt. In fact, a recent report showed that the average American spends $100.60 per every $100.00 made in take home pay. Simply put, Americans have a negative 0.6% savings rate. Critics fear that such spending habits could bring about a recession if this spending habit continues.

It is not just American consumers who seem to have a spending problem. The federal government has managed to rake the national debt up to an astronomical amount of over $8.6 trillion, with no end in sight!

Additionally, a recent newsfeed item highlighted the lack of governmental fiscal responsibility and how it will inevitably lead our country into financial disaster.

With all these things in mind, one would have to see the irony of the Visa commercial that lures potential customers in by displaying, in a humorous way, our addiction to plastic, in an unstainable pattern of spending.

Broompilot · Jan 6, 2007

WOW someone with my own agenda. RIGHT ON.... Here is another twist to the mix, do you think that VISA does not have an agenda try this. They bought into Parker Brothers game board MONOPOLY.

Why, to change the terms of the game to brainwash children into preparing for future life lessons that cash is no longer necessary. You know that colored money. NO MORE its all credit. Curious to see if they rat on themselves by having Go To Jail replaced with Overlimit and we stick it to you for $39.00. Or better yet if they disclaim their small print about changing your intrest rate even if you have stayed below your min, and make your payments on time but carry a balance cause they can. And than raise you from 9% to 29% cause they feel that new car you bought puts you into their calculations as being a higher risk?

Anyway thanks for bringing this up, and its a shame that we as Americans are spending more than we earn. Is it any wonder why an illegal can work here and have a higher net worth and a native citizen in about 5-10 years. I keep advocating but it keeps getting ignored, I just do not understand this. I choose to be different when it comes to finances they are (Visa) a bunch of legal crooks out to take advantage of anyone anytime, VULTURES, SCUM and if you fall to there trap and make excuses as to why than your most likley gona fall into a Life of Slavery, there is a way out pay it off and begin with a committment of paying cash for everything maybee not possible but its one heck of a GOAL and will save you hundreds of thousands over a lifetime. Remember that HUNDREDS OF THOUSANDS, the average car payment in America today is over $370 for 84 months now do that math over age 25 to 65 vs driving a four year old car for 11K and trading out of it every 5 years selling it for 5K and just replacing it keeping up with inflation.

I have not done the math myself but was told over the radio it was around 700K when you got a return on the difference of your savings.

Jayman · Jan 6, 2007

Good thing OVM wants to get his green card. He can then pay taxes.

greg334 · Jan 6, 2007

the 1920's all over again.

I find it funny that our debt spending is spreading to other parts of the world - Japan for example were the top savers in the world but now that has dropped so much that the up and coming adults have 30% of the savings that the generation 10 years ago had. If we keep spreading this attitude, it won't be an american problem but a world problem.

arkjarhead · Jan 6, 2007

my dad taught me growing up that you set money back in savings everytime you get paid until you have enough money to pay your bills for three months. alot of people get credit cards to live off of in case of emergency. i have one card with a small limit on it. just in case i need it on the road. i think i've used it 4 times then pay it off that month. plus i've been told if you save enough money you can get enough money in intrest that you can live off the intrest. i don't know about that, but i guess it's possible.

Tennesseahawk · Jan 6, 2007

I believe the VISA commercial is the VISA checkcard. But I hear what you're saying. Actually, we love our debit card. We used to charge whatever, with the idea that we'd just pay that part off. Of course, it doesn't usually work that way. If you have cash in the bank, it tends not to find its way to the credit cards you've committed to in your mind. With our debit card, it's like carrying the cash, instead of charging it. It doesn't necessarily mean we're more frivilous with the money. We're actually more disciplined than with a credit card.

"If I claim to be a wise man, it surely means that I don't know." - Kansas