>“The collection agencies call at least 20 times a day. For a little quiet, Diane McLeod stashes her phone in the dishwasher”
I first read about this article in the I will teach you to be rich blog via a link I was sent and adapted it here for my audience. It is from the New York Times and is about the American debt problem shown through a woman named Diane McLeod who got into hundreds of thousands of dollars in debt from a seemingly secure position. It’s remarkable series of articles because it includes a rich set of multimedia features that let you understand how many Americans get into so much debt — and also allows you to compare yourself to others. I know it is American focused, but I think it is applicable to any one in the world who got in to debt, is in debt and how to get out. This multimedia article, part of a series, is worth spending the time to read through. It covers:
> An overview article: Given a Shovel, Americans Dig Deeper Into Debt. This is the story of Diane McLeod and how she got into debt.
> A interactive timeline of debt from the 1920s until now. I have shown a screenshot of the 2000’s below. You can look at every decade in the feature.
> A haunting video of Diane McLeod. Just watch her attitude and how her debt affects her.
> 1000+ comments at last count. Clearly a lot of people have something to say.
> A tool that lets you compare how much debt you have with others like you. Just use the exchange rate and see how you compare to most Americans ($1 Australian = $0.97US. So if you are earning $100,000 Aussie dollars, it is equivalent to $97,000 US dollars)
I highly recommend you read and see the entire piece (it should take you about 15 to 30 minutes). Whether you are financially secure or not, you will learn something new. Click here to see the NY times article. Also check out the above blog, which has more comments on this article.
What are your thoughts on it? I thought it hit a number of key points and challenges we or some we know faces. Sometimes without realizing it.
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