Firstly I’d like to apologize to all my readers for not being able to write for a long time; it’s been a very hard time for me but I’m back.
I have been attending Marketing as part of my year class at Boston Media House, and I began to learn that we are very much dependent on credit. It is shocking that we are following the footsteps of Greece, as we all know the whole country is in super debt crisis. We also see the United States economy is in threat. This is the world’s central district, which means countries like South Africa and Asian countries will be feeling the heat if the US goes broke.
Perhaps you’re wondering what am I talking about. Well, it’s easy: We are all in huge debt because of the credit cards we have. Statistics show that in South Africa 75% of the population has credit cards and only 50% of those people are working. This is where we all ask, “What about the other 25%?” They say people have already spent next year’s earnings this year and this means they don’t have discretionary income because they have to pay for their credit cards. These are the people who are causing a scare for the country. There are approximately 49 million people in SA and only 15 million are employed.
I was confused. How can this be? But I also got an answer: I’m not working and I have a credit card!
In the middle class in South Africa, each person owns at least three credit cards. It’s not that they don’t know it’s wrong. They just compete in the materialistic world. People don’t know the meaning of the word “master card”. They think it’s them being superior over others. But banks named it for a reason — the card masters you. It tells you how to live your life and what kind of lifestyle to live.
I am closing down my credit card and have started a campaign on my Facebook asking everyone to close their credit cards so that we show our support to live a debt-free life.