The official blog for the Friday Addition Foundations in Personal Finance class
Friday, November 1, 2013
November 1 - Online Discussion Question 2
Based on the brief history lesson of credit we went over, what have you learned from how our grandparents used to view credit to how credit is used and viewed today?
I've learned that credit has not always been accepted as "truth." It used to been seen by the majority for what it is - a road leading toward debt if you don't get off soon. There is a much better way to buy things, and that is to save!
credit used to be despised, rejected and unavailable now we use credit to buy everything because this generation thinks saving up is a joke why wait and save when you can just buy what you want/ need you can just pay it back at the end of the month without any problems
Credit used to be considered a bad thing and was not accepted in any way by the generation our great-grandparents lived in, our grandparents just thought that it was unwise, but through the last 10 or 20 years it's become a common thing that most everyone has and it is viewed as something our society couldn't live without which is so sad.
Credit was treated as if it was a leper back when my grandparents were young, everyone tried to stay away from it. Now our generation is practically begging for it.
I found it interesting that over two generations credit went from not being used to being used everywhere. From being looked down on if you did credit to being looked down on if you don't adam
Grandparents believe credit is a sin, it's not a good thing to have a credit card and use it when it's unnecessary. But credit is a basic need when it comes to today's standards in finance.
My grandparents viewed it as a sin...we view it as something that will help us.
ReplyDeleteI've learned that credit has not always been accepted as "truth." It used to been seen by the majority for what it is - a road leading toward debt if you don't get off soon. There is a much better way to buy things, and that is to save!
ReplyDeletecredit used to be despised, rejected and unavailable
ReplyDeletenow we use credit to buy everything because this generation thinks saving up is a joke why wait and save when you can just buy what you want/ need you can just pay it back at the end of the month without any problems
travis
Credit used to be considered a bad thing and was not accepted in any way by the generation our great-grandparents lived in, our grandparents just thought that it was unwise, but through the last 10 or 20 years it's become a common thing that most everyone has and it is viewed as something our society couldn't live without which is so sad.
ReplyDeleteCredit was despised in our grandparent's day. Now we think it's great to use it and to get into debt.
ReplyDeleteAutumn
Credit was treated as if it was a leper back when my grandparents were young, everyone tried to stay away from it. Now our generation is practically begging for it.
ReplyDeleteI found it interesting that over two generations credit went from not being used to being used everywhere. From being looked down on if you did credit to being looked down on if you don't
ReplyDeleteadam
Our grandparents looked at it as sin, now days if we don't have one we treat it as a sin.
ReplyDeleteOur grandparents viewed it as sin and did not participate in it. We view it as a useful tool and use it often.
ReplyDeletePeople back then thought that credit was evil. Today it's used all the time like it's no big deal.
ReplyDeleteeyezik
Grandparents: A bad sin.
ReplyDeleteUs: A way of life.
our grandparents thought it was a sin but we think of it as something we need and cant live without.
ReplyDeleteGrandparents believe credit is a sin, it's not a good thing to have a credit card and use it when it's unnecessary. But credit is a basic need when it comes to today's standards in finance.
ReplyDelete