13 July, 2006
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Do you own a credit card? Do you wish you didn't, or is it a lifesaver? Credit is becoming more prevalent in UAE society. Is this a good or bad thing? I have my own thoughts on how to play the credit game--something gained from learning lessons and just being more responsible. I do think part of the blame is with modern society where the business of selling is allowed to pervade every aspect of our lives. I think it's something we all need to be cautious about.
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2 comments:
Credit in and of itself is neither good nor bad. It just is. How one reacts to it is what makes the difference. I love my credit cards, but I am well aware that they are real money -- and expensive if I do not pay them back in full before the end of the month. But they are excellent devices for cash flow control.
As far as the business of selling pervading our lives goes, you can always choose to ignore the messages thrown at you. Do you really think that advertising makes us go further into debt?
BTW did you read the bit in today's 7Days (I think) about young women and credit cards. Interesting.
Well, a very rational observation, but how rational are human beings? Sometimes we have to be protected from ourselves. I would never want to go back to a creditless society, but it would be nice if government would gently encourage more responsible behavior on the part of both lenders and borrowers.
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