And you should be since the average debt is in the thousands.  CreditCards.com commissioned a study from GfK Custom Research North America to find out what are the safe conversation topics with strangers.  What did they find?  You’d rather talk about your salary, political and religious views, love handles, health problems, and even your sex life than talk about your credit card debt.  I tell everyone I meet that will listen about my credit situation, but I don’t talk salary, health problems, or personal relationships - especially with strangers.  What is wrong with you people?

WalletPop turned me onto these results and I want you to read their post first before going to the Yahoo Finance article.  They make a great point about keeping up with the Joneses.  Its easy to keep up with the Joneses because the Joneses are in as much debt as you are.  The nice car?  Leased.  That bigger house?  Option ARM mortgage.  House at the beach?  Time-share.  60 inch plasma TV?  12 months no interest financing courtesy of Best Buy.  I don’t need to continue.  Most of you don’t have those luxuries, but even buying a piece of furniture on credit or paying your iPhone bill with the credit card because $70 isn’t in the budget is the downward spiral the sets you up for bankruptcy.

WalletPop also makes a great reference to the old LendingTree.com commercials about the guy who is in debt up to his eyeballs but it sure looks like his life is great.  I’ve included a link to that commercial to remind you.

The Yahoo Finance story makes the most important point, if people aren’t talking about their debt, they’re not doing anything about their debt  I think that’s representative of how our culture treats debt and any problems for that matter.  The problems we talk about are the problems we address.  Its important to keep sensitive topics out in the open so you’re forced to deal with it.  We don’t talk about debt because we don’t want to deal with it.  I’ve always found that communication is the most important aspect of any interaction.  If its co-workers, family members, loved ones, or friends the ability to effectively communicate and convey your thoughts is vital to the success of the relationship.

With that said, the point of this study was not effective communication.  They are sending the message that Americans are ashamed to talk about their financial situation.  You wouldn’t talk about your alcoholism either, would you?  Its embarrassing.  Maybe we need an intervention.

Yahoo! Finance via WalletPop

Related posts:

  1. [Revisited] You’re Embarrassed by Your Credit Card Debt
  2. Irony: Credit Card Company Desperate For Credit
  3. Give me some credit, or not
  4. Personal Finances
  5. Credit Crunch and Recessionary Concerns Not Limited to the States

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