LesBaer45, no way it can work for the general population.
We are programmed to consume. BTW, that’s what capitalism and credit are all about — bringing consumption and development forward. Otherwise, we’d just save and wait until we have the money saved up to consume.
Imagine how the car industry would hit depression if consumers actually started saving to pay cash for their cars. It’s doable and recommended for the individual, but it would be a disaster for the economy.
I’ve always paid cash for the cars with two exceptions. Those were half paid for day one, and put on a ridiculous low rate for 18 months. The first one to “build” credit score early in life, the second one is the current ride to “maintain” credit score after paying off house a couple of years ago.
Clearly I am the biggest hater of America here. 🙂
