How many are in debt in Hoboken?
It’s a shame that the “concept” of debt vs. wanting (I need!) things is so hard to grasp by individuals, that it has become a mocking parody on shows like Saturday Night Live.
Credit cards, commercials, the “need to fit in,” other “must have” items (clothing, cars, tech gadgets) we could all do without.
About the only thing that used to be purchased on a “loan” was a home. And even back in the day, the cost of a home was just around 1x to 2x what your annual earnings were. People paid their homes off very quickly. Today, homes have become pretty much impossible to own outright.
While this video is funny, I don’t think it would aid in getting many people out of denial.