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Money has always been one of the issues of most concern for the dwellers of our planet. Since the emergence of money people have always been doing their best to earn as much of those, as they could. The thing is that money has always guaranteed the satisfaction of the basic physiological needs, and, moreover, they also promised psychological comfort. Thus when the possibility appeared to get them “for free” and to return some time later, most people took this as an invitation to the action, as the desired banknotes were given immediately on the request, and the reckoning was seen somewhere far away.The appearance of credit cards opened the opportunities for the American citizens to get the desired items at the moment they wanted them with the perspective of returning money sometime later. It became an unbearable temptation for most of them, so that, on a national level, Americans are incurring more debt each day and saving less than ever. Today many of those Americans are young adults who are drowning deeper into debt due to the increased amount of irresponsible money management.From year to year more and more American citizens fall into the abyss of financial debt. What is even worse is that most of them are youngsters, who loose lots of perspectives because of their financial obligations. If we’ll fail to find an appropriate solution to this problem, in some years the majority of American families will be in debt.According to the statistics provided by the New Step Debt Consolidation today, the average American household has 13 payment cards, including credit cards, debt cards and store cards. There are 1.3 billion payment cards in circulation in the United States. The average household had four credit cards with balances around $4,800 in 2001, up from two cards and $2340 in balances in 1996. Over 40% of US families spend more than they earn every month. The result of this increase is many people of all ages are losing their, homes, families and dreams. Why one could ask? A possibility is because of irresponsible decision making with their capitalThe average student debt has also increased dramatically during the two years, as on average they owed $2,748 in 2000, comparing to the $1,879 in 1998, says Christine Dugas, the author of the USA Today article about American youngsters’ debts to the credit cards companies.Therefore, we can draw a conclusion that Americans are a nation who lives in debt!Credit card could’ve become a great way to manage personal finance, but many Americans are finding free rides into quick bankruptcy instead of using this method as a last resort. The thing is that before having to pay for their first credit most part of them doesn’t even think about possible problems and inconveniences that may emerge during this process.  Therefore, educational intervention is a primary solution to our rising dilemma.  The key is to have 3 options we could lean on to raise the awareness of the nation about the credit card debt, this way there will be a solution for all age groups, in case the rest do not apply.  These choices are a High School required course, a Community College required course, and a city gathering workshops for the ones who have already been to high school and college.  These will work as great ideas to implement education concerning the management and care of ones own finances, as well as tips about the ways of living better without having to worry about credit, loans or other interest bills being paid on time.A great start to helping our younger generations into understanding the value of a dollar and being capable enough to spend that dollar in a correct manner is teaching them when they begin to feel the need for more material things.  That is why in High School it is important to educate these young and future credit card bearers into knowing how to administer their commencing wealth.  As a group we propose a required class that will lecture in ways these teenagers can get the most out of their money and invest in things that are worth buying.  As it is known, much of the shoppers you find in malls are students or young adults who wish to be in style and follow the latest trends. This age group is ready to spend money, in the same time not being acquainted with the hardships in earning them, so by the time they can get a hold of a credit card or fast cash, they hardly think twice when spending on something they like or “need.” Consequently, this can not only hurt their future habitual spending habits, but can also bring financial loss to their parents as well, since they are the ones who handing over part of their pay. So it’s vital to teach them rational money management before they’ll get an access to that seemingly inexhaustible source of money on their brand new credit card. This will decrease dramatically the average student debt, and in perspective those youngsters will be using the given knowledge to manage their resources in their adult life, so the average American’s debt will also lessen.That is why a required class can give the student certain feedback on the consequences of over spending and falling into debt, and some useful tips and advice on how it can be prevented.  Even though many of the students who receive the class most likely will not be working a full time job or any job at all for that matter, it is always good to have that education available for them for future use and reference.  And maybe after this, they will think twice before buying those 150 dollar pair of jeans.A different type of educational intervention is in Community College.  At this point most of the students will, most likely, be working, and, of course, will be of age to have a credit card, a bank account, and easy access to cash advances and loans.  For the past year, many educational fees have escalated, and students find themselves in financial breakdown trying to pay for those fees, books, and other materials needed. Yes, they can apply for Financial Aid, but it does depend on how much money you make. And even if you earn quite a decent sum, if you have any dependants, for example still living with your parents, they can lower the money that is given to you dramatically.  Therefore, a fast and easy way to take care of those troubles is by swiping out the good old Master Card or American Express.College course in money managing is in some ways even more important than the school one is, as it’s intended for not to leave the young person who recently got an access to the source of big amounts of cash alone with all the temptations he or she sees.It’s a proven fact that people spend 112% more using credit cards than they would’ve spent if they went to the shop with cash. And this is especially true for the youngsters, as they often try to compensate the lack of love and confidence in their lives by buying themselves the things they want. Added to the tuition fees, money spent for food, living and books this expenditures turn into a debt that grows like a snowball, making the students to get new credit cards to pay for the previous one, and to give away most part of their income from the part time jobs they have. The debt is vividly depicted by Elizabeth Warren, a Harvard Law School professor and author of The Two-Income Trap. She claims that “once you’ve got accumulated debt, the debt takes on a life of its own. It demands to be fed, and it takes that first bite out of the paycheck. And it means the opportunity to accumulate a little, to get a little ahead, to maybe put together a down payment—it’s just never there. It’s just staggering to me that this is not a part of our national debate right now.”Except for the students, who became the victims of credit card debts, the other age groups exist that are also in trouble because of the overdraft. Mary Hunt in her book “Debt-Proof Living” states that the age group who has the greatest amount of debts is those whose age ranges from 18 to 34 years old.It’s obvious that most of the college graduates won’t be able to attend full time courses of Money Management, as most part of their time will be consumed by their job, needed to pay at least the part of the debt. Therefore a workshop should be organized for this category of people to get them acquainted with some of the principles of rational money management.Some social activists propose another  solution form this problem, which’s to restrict the credit cards usage strictly, or even stop giving consumers’ credits. They say this step would’ve not allowed the citizens to take the new credits before they paid everything on their old ones, thus the overall amount of debt for every family will become less. Unfortunately they forget that nowadays over 40% of American households are living in credit, spending more than they earn. They use their credit card for everything, starting from the groceries and ending with the electricity bills. Depriving those people of the right to get one more credit card often means leaving them without any means for living. Thus, the restriction proposed by those people will affect the American social situation very badly, putting the huge amount of Americans on the verge of poverty, and, moreover, causing severe material losses to the credit card companies.Thus you see that educational intervention is the most appropriate way for solving the existing problem. Generally the concept of credit cards hold a good idea in it, and using them still provides lots of benefits. Educating people about the proper ways of using this tool will help people to use credit cards rationally, using all of their benefits in the same time not putting themselves in debt. Moreover, those courses will help their attendants to spend the money rationally, so that it can resist the overall tendency of converting our society into the wholly consumerist one.The debt doesn’t allow most of Americans to get onto the next social level, as it prevent s youngsters from taking prestigious but low-paid on the first stages jobs, preferring them to the occupations that provide decent income, needed to pay the debt from the very beginning, but without any perspectives of further promotion.;

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