What’s in Your Wallet? Pay Cash and Leave Credit Cards at Home

Since key members of Congress are working to reach an agreement to bail out Wall Street, it looks like Americans could be headed back to their roots by becoming a cash society.

Many, many years ago, Americans paid cash for their purchases. Has anyone heard of lay-away? Whatever happened to that concept? It must have vanished along with the values and scruples of the American people.

Americans got themselves into trouble by purchasing homes, cars, jewelry, electronics, clothes, and other items they could not afford. Remember when mom used to say “if you cannot afford it, do not buy it!” Apparently, those words of wisdom went into one ear and out the other.

America is known for being a nation of consumers. People are not happy with a car that is 5 to 10 years old. They want a brand new one that is loaded with the latest technologies. That’s great if you can afford to pay cash for it. But, most people take out loans and fall deeper into debt.

The SEC, Wall Street, and the housing industry are not innocent. The people who made loans to home owners knowing that these people would not be able to pay the loans back ought to be held accountable for their actions. Chances are they will receive a “slap on the wrist.” Unfortunately, they will have to deal with “instant karma.” You get back what you give out. Ouch!

Perhaps this bailout is a good thing for the United States of America. It will force people to take a step back and reevaluate their lives. Maybe now people will realize what is really important such as family, friendships, community, and the health of planet Earth. Americans, it’s time to look inside of yourselves and discover why your “outside” is such a mess!