Many of us in this country are deep in debt because we don’t know how to manage money. Managing your cash and credit is something that should be taught in school. I’d say starting in the first grade is appropriate. We need to teach people they can’t spend money they don’t have and expect to pay it all off when their ship comes in. Unfortunately ships sink, get hijacked or breakdown so when you expect the money to pay your debts your ship didn’t come in and now you’re in real money trouble.

Education can stop a lot of the money problems people have. Don’t spend beyond your means and you won’t have to many problems managing your money. Read more money management tips.

Debt consolidators and debt reduction tips weren’t necessary prior to the 70s, when banks started handing out credit cards like candy. The average household had very little debt because they paid cash for most things. Besides a mortgage and a car loan, most families lived within their incomes.

This meant saving up for luxuries. Retail department stores offered what were then called ‘charge cards’ to encourage spending at their stores. Most people looked twice at having this charge card build up to an unmanageable level. They charged a pair of shoes or a coat, then paid it off at the end of the month. Otherwise, interest was incurred, an unpopular concept back then. So you see there was no need for debt consolidators back then.

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