It’s no secret that more and more people — especially seniors on fixed incomes — are sinking deeper into credit card debt. Why is this? I don’t think it’s because we’ve had so many emergencies (the common reason to have credit cards, right?). It’s because we don’t want to feel poor.
At this point, I should define “feeling poor.” It’s not easy, but it’s real. And I’ll bet you’ve felt it from time to time, no matter your season of life.
It’s a sad, sorry feeling of inferiority. It’s that feeling you get when faced with an invitation to join all of your rich friends for a chi-chi lunch and you’ve got $8.43 to your name. It’s that feeling you get when you hear your friends are all taking a Caribbean cruise and you can barely scrape together gas money to visit your grandchildren….