the wealth hazard

Most people begin their relationship with plastic on terms of convenience. They have enough money in the bank to pay for the groceries or gas, but it is just so much more convenient to swipe a card than to go through the hassle of getting the cash. And the monthly statement offers such a tidy record of transactions. It is so convenient.

Then comes the time when the bank balance is a bit low and the perfect shoes are on sale. Using the credit card becomes not only a convenience, but quite a remarkable instrument of entitlement. Can't pay the entire balance when the statement comes? Not to worry! Thanks to that minimum payment option, you can pay a small amount and buy yourself another 30 days. Such convenience.

Convenience quickly leads to mindless spending. There's no conscious thought of the real cost. The plastic wealth hazards allow one to dismiss a $200 outfit as just a $10-a-month payment starting next month. But right now you can take it home for nothing.

Can you remember the last time you bought gasoline? If you used your ATM or credit card you probably don't have a clue how much you paid per gallon. Was it the best price in town? Do you know which station has the lowest price? Probably not. As long as you have the security of plastic at your disposal, nothing else seems to matter.

Try to recall the last time you actually saved for something instead of buying it first and then making the payments. Americans are not known for their saving prowess -- and no wonder. We're mesmerized by the convenience of conspicuous accumulation.

this tirade brought to you by my first credit card and its very own statement.