Comments on: Who’s to Blame for Your Spending? You or You?

By: Penelope Pince

Penelope Pince — Mon, 16 Mar 2009 00:29:06 +0000

Thanks, everyone, for your great comments.

@ The Happy Rock

I’m sure there are small businesses who enjoy serving their customers. In fact, in the course of my very smalal business, that has often been the case when we’ve developed a rapport with a customer and are truly happy when they tell us how happy we’ve made them.

But while I agree that not all businesses’ goal is to “part you from your money,” every business’s goal is certainly to make money, for that is the very definition of a business.

@ Bill McCollam

Yes, I do use my rewards credit card for every necessary purchase. I’ve been known to use my AMEX Blue Cash to buy a $0.41 stamp because I had to charge $6,500 before getting the higher cash back percentage, so everything I could put on the card, I did.

Though that made me feel a little funny, the postal worker didn’t think it was strange; she sees it all the time and told me a lot of her customers use their credit cards for small purchases as a way to track their spending, which is another reason I like credit cards.

By: Bill McCollam

Bill McCollam — Mon, 16 Mar 2009 00:02:10 +0000

You’re right – it’s all about accountability. You have to control you. In and of themselves credit cards are fine… in fact, I could argue that you’re missing out of you’re not using your credit card for every conceivable expense you have if you have some kind of loyalty program on your card…(and you do – don’t you?)

By: Community In Action - Daylight Savings Edition | The Happy Rock

Community In Action - Daylight Savings Edition | The Happy Rock — Sat, 14 Mar 2009 14:19:15 +0000

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By: The Happy Rock

The Happy Rock — Sat, 14 Mar 2009 14:01:51 +0000

Not sure I agree that all businesses main goal is to part you from your money. I know plenty of people, especially small businesses owners and employees that love how they serve and the money is a way to telling if they are doing a good job. The companies and employees love what they do, love to help people, and the people usually notice. Once a company starts to get to big this type of mentality gets lost.

I do appreciate the sentiment that your are in control for the good and the bad. There just isn’t another way to view things that is anymore helpful.

By: Nick | Mom Most Traveled

Nick | Mom Most Traveled — Wed, 11 Mar 2009 13:29:39 +0000

Great points you have here. Credit cards can be of great use if you restrict yourself and only spend what you need. When we were still in the States I used my card for everything for the same reason you stated above – kept my money in savings longer. I’ve taken it a step further sometimes by calling the credit card company and getting them to give my a great rate of 0% or 1% for an extended period of time when I’m about to make a big purchase ($5,000 or so). I then take the money I was going to use to pay the bill and put it into a CD earning a higher rate than the one I’m paying on the card. Though this was in times past when CDs were paying more than 1%…

By: Squawkfox

Squawkfox — Tue, 10 Mar 2009 15:48:14 +0000

Taking ownership of poor habits, be they financial or otherwise, is the path to growth.

By: J. Money

J. Money — Mon, 09 Mar 2009 21:24:48 +0000

i don’t want to be held accountable for my spending haha…nah, you know i do. it’s just good i learned how to stop spending so much! makes life a lot more simpler.

By: Greener Pastures

Greener Pastures — Sun, 08 Mar 2009 13:00:43 +0000

Buyer Beware is my motto. And if someone trying to sell me something says “trust me” I really beware!

I agree, business is about making money. I feel badly that it gets so sleazy at times. Especially when older people are taken advantage of.

When someone devotes a lot of time,money and energy into taking advantage of people, it can be hard to defend against them. Case in point: Madoff.

By: Jennifer @ Money Saver 101

Jennifer @ Money Saver 101 — Sun, 08 Mar 2009 06:39:27 +0000

I absolutely agree with the idea that we shouldn’t blame salesmen and credit card companies for trying to make money. I don’t like it when they attempt to rip me off, but trying to seal the deal is another thing entirely. They are all out there to make money. That’s how we all survive. It’s our bread and butter.

By: Abigail

Abigail — Fri, 06 Mar 2009 23:53:24 +0000

“A grain of salt and a pinch of brain”… I love it!

I agree that it gets old all these people talking about how companies are “stealing” money or “tricking” you. Yes, some are out and out shady. But most are simply being business-like.

It’s the same reason I was shocked that so many people saw no problem with the “Freecreditreport.com isn’t FREE” article. I thought, Uh yeah, of course not! I thought they had made it pretty clear on the website, in the commercials. But everyone who commented on the post after I did said that if the company were TRULY honest it would have said things before promising something “free.” I guess I was just raised to believe that there’s no such thing as a free lunch. (Unless you have an Entertainment Book coupon.) But one person accused me of being “brainwashed”!

By: Mrs. Micah

Mrs. Micah — Fri, 06 Mar 2009 13:56:51 +0000

Fantastic post. The point of any company is to make money. You should only expect people to look out for your best interests if you’re paying them expressly to look out for your best interests (i.e. paid financial planners). And that’s because you’ve already paid them. I still would take everything with a grain of salt.

By: TGIF Round Up: Visitors Edition | Frugal Living Tips & Money Saving Ideas | Living Well on Less

Fri, 06 Mar 2009 13:09:42 +0000

[...] asks who’s really to blame for your spending. It’s easy to blame mistakes on smooth talking salespeople, but in the end we’re all [...]

By: Cascia @ Healthy Moms

Cascia @ Healthy Moms — Fri, 06 Mar 2009 02:17:58 +0000

I recently found your blog on entrecard and I think it is pretty cool. I really enjoyed reading this post!

By: JT Locke

JT Locke — Thu, 05 Mar 2009 23:50:07 +0000

Great post!!! We have four credit cards — two of them we pay off every month and the other will be done the same way as soon as we get them paid off.

Also, I wanted to let you know that I’ve awarded you The Lemonade Award. Stop by my blog and pick it up!!!

I really enjoy your blog!!!

JT Locke
The Frugal Housewife

By: Matt

Matt — Thu, 05 Mar 2009 16:35:04 +0000

Good points. I think that too often people get caught up demonizing the evil credit card companies that put them in so much debt while forgetting to remember that they swiped the card.
I think it is generally much easier to blame someone else for your problems and not look at your role in it.
Working with a budget usually helps me from falling into this trap and also helps me keep an eye on where and when I swipe a card.

By: FrugalNYC

FrugalNYC — Thu, 05 Mar 2009 15:44:49 +0000

Liked this post and what you say is certainly true. I wrote something similar a little while back at http://frugalnyc.blogspot.com/2008/12/five-awesome-tips-to-putting-your.html

Keep up the great posts