US consumer borrowing rises to record $2.75T

[lunatica]

3. I think of it as being mesmerized

It's so seductive to live in the fantasy that you can have everything you see on TV if you have credit cards. Every once in a while I think about trying to get some credit to have a way to fix something in the car or the refrigerator or getting needed tires, etc., then I remember how easy it was to wrack up the charges and how easy it is to get out of hand, even if I used a credit card sparingly. So I decide not to get credit and feel instantly better.

I not only went through bankruptcy that year. I was laid off too later in the year. But I've landed much better than others. I was rehired by the same department that laid me off and I was able to get a mortgage modification. All that makes for some powerful memories that are very unpleasant so I have a lot of incentive not to repeat the behavior that caused it.

I am better off now.