Poor credit habits almost always result in the person sliding into the danger zone of bad credit. That's what the statistical picture. Mature people know the dangers of bad credit, and try to avoid poor credit practices, by managing their finances wisely. Well, most of the time...
The reality of consumerism, and everyone trying to trump everyone else, with their outlandish purchases, the temptation is to buy today, and pay tomorrow. This is a sure way to an economic disaster for individuals and families alike. Life experience and maturity keep most of us in a good stead.
But, that's a totally different situation with the younger generation. These 18 and 20-something years old want really to have it all now. Their parents'dvice comes second after the media advertising and clever promotions.
IPod, latest cell phone, vacations in Bermuda, designer clothes, swanky apartments, etc. seem to be just a standard for those youngsters.
Credit issues and money matters come second, after the need to satisfy their "I deserve it now!" mentality. They don't think about poor credit, let alone bad credit dangers. Climbing the ladder of the professional advancement that will one day... see them thrown on the unemployment heap. A bit of foresight would definitely help to stave off the financial disaster that have the potential to ruin their prosperity for long time ahead...
