The Debt Trap - An Interactive Experience.
Thought you guys might want to check this out. Don’t have time to discuss it much (headed to the doctor), but basically the New York Times is taking an in-depth look at debt: what causes it, who is affected the most, why we dig ourselves into debt, and who exactly is to blame. It’s a great interactive experience that tells us a lot about debt and it’s affect on both society and individuals. Good stuff. Gotta run!
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Chris | Jul 25, 2008 | Reply
I am struggling to get out of a debt trap right now. Once you are in debt so far, it is very difficult to climb out of it. I didn’t fully open my eyes to how bad our situation was until we were over $75,000 in debt in credit cards alone. I started a blog for self motivation and to keep track of my progress. I am proud to say that that I have paid down $3000 since April.
As far as who is to blame for our credit card debt, I fully blame myself. I blame it on a lack of budget and living beyond our means. Now I am paying the price for our mistake. If I stay on track, I should be out of CC debt in about 4 years.