There are several reasons we can think of why America is in dept. These are not as profound as the way for us to get out of debt.

The first reason for most of our problems is education. Now, in the case of Americans being in dept we should realize that this is not a matter of poor education. It is a matter of no education. High school curriculum does not include classes on credit scores, budgeting or investing.

Some may say it is a common sense issue of paying your bills or not spending more than you make. However, when someone is offered a card with a large limit and the ability to pay a small monthly payment, it is seldom that they turn it down. Without understanding the ramifications of the credit record, why would they.

We should also consider how our wants as a whole in America, are more often than not, just as much a priority as our needs. Housing is a necessity. A really big house with a large back yard and in the upscale part of town is not. A car is not really a necessity. A really big one that gets bad gas millage certainly is not.

The top three money drains for Americans are coffee, cigarettes and alcohol, two stimulants and a depressant. Again, all three of these are not necessities. Car washes, credit card interest charges and unused member ships are also on that list. There is a tendency to not only be wasteful with our money but to also be oblivious to the fact that we are doing it.

On a government level, a simple plan to start courses in credit scores, budgeting and investing would help in the long term. This actually could be helped by the credit bureaus who could easily see profit in the help of educating students in understanding and being aware of their credit. For the individual, all of us, a closer look at our spending habits and willingness to go without will help us get through the year a little less in the negative.

Learn more about this author, Kenneth Meade.
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