Escape the Credit Trap! - Garner Ted Armstrong - January 1977

Garner Ted Armstrong

If it isn't "buy now, pay later," it's "fly now, pay later." Just whip out that piece of plastic with your name embossed on it, let'em crank it through the machine, sign your name, and you're all set to go tripping gaily off into the wild blue yonder, because "tomorrow may be too late." Every time I see one of those commercials depicting a happy, fun-loving couple throwing away all their cares and rushing off to Fiji, the Hawaiian Islands, or the Caribbean - on credit - I wonder what happens when they get home, when the credit card company says, "Okay, buddy, you've had your fun. Now it's time to pay up." According to a recent study made by a large Detroit bank, the typical U.S. wage earner - a 38-year-old father of two - makes $13,847 a year, but he is still about $500 in the hole - by the end of every year. Why? - Information Supplied By: Herbert W Armstrong Library