Welcome to 2019
The Rearview Mirror
Another year has come and gone. Whoever came up with the analogy about life and a roll of toilet paper got it right. Time is like a speeding bullet when we reach a certain age.
January is among the least popular months. The hype of the Christmas season is behind us, the weather is generally blah, the flu season is in full swing, and the mailbox is bombarded with tax forms and for many, heavy credit card bills for overspending the previous month.
Not too many years ago, most banks offered a Christmas club account. You opened it in January, deposited a few dollars each month, even earned a little interest, and in December would receive a check to use for shopping. People made a budget and stuck to it. Then came the credit card. Buy now (and lots of it) and pay later. What a deal! Yes, for the credit card companies! They didn’t offer them to be generous. They charge 18, 20 percent or more interest. For a while, offers were coming to every mailbox, and college students were especially targeted. More than a few kids have racked up thousands in debt, with some unsuspecting parents forced to pay. The government finally put a stop to that practice.
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