I subscribe, or have subscribed, to several financial magazines. Early on in my life, I thought these periodicals were made for me to better manage my money. Over the past few years, I have learned that these periodicals are, for the most part, marketing and sales documents. I still get them, and the associated emails that come with them, but I just read them with a grain of salt.
This past week, I received and email from one of the magazines I used to subscribe to. The title scared me (just in time for Halloween) and raises my level of concern when we as a nation are trying to get back to sound financial management. The title was this – “The Best Credit Cards for Retirees”. The article pointed out that seniors are swiping cards more often.
The article went on, without really saying it, that you should strongly consider whether you need credit card debt. While they listed those best cards, they also has tidbits of discouraging statements to, hopefully, make seniors reconsider their need.
One thing that was missing is what all of us have missed – using plastic allows us, psychologically, to spend more than we typically would. You know, these are seniors that this article is addressed to, I am sure they already knew that.
Or did they?
