budgeting

Why is it that crippling debt has become so common in the United States? Is it because credit cards are so readily available to everyone and anyone with a social security? Is it because they send out credit card offers weekly and offer insane credit limits to people who just can't afford it? Or does it have more to do with the fact that so many people nowadays have no idea how to set up a budget and stick to it?

I've started to believe that credit cards are probably the largest reason for our country's debt. After all, kids get offers in the mail once they've turned eighteen - before they know how to budget and before they truly understand that paying off the minimum balance due is never going to pay off their debt.

In a way, the way that credit card companies "feed" on young adults reminds of the way that scam artists feed on the elderly. Both take advantage of an age group that often has trouble managing their own finances, and both have a tendency to not read the fine print.