Financial Nightmares

    This is a state that most highly educated young couples find them selves in all the time. It starts out with the a young couple that move into an apartment together. They then realize that they are saving money because they are bringing in two incomes and only needing one. So the couple save up money and focus on their careers in order to buy a house. What they do not know is that as their income goes up so does their expenses.

    To show this we have the young people go out and buy their house. With this new house comes new taxes like property tax. But the buying does not end with just the house, no they need to buy a car , new furniture and new appliances to go with the house. This causes them to be flooded by expenses and liabilities from their credit cards and mortgage loans.

    Then things just get worse, a baby comes along and with it more taxes and expenses. Next thing they know a credit card comes in the mail and right away they max it out. When they thought that things could not get any worse the value of their home has appreciated. they are offered a consolidation loan and  decide to take it. This is a good thing because now their consumer debt is combined with their mortgage and is extended over 30 years. But now they are going shopping with some friends. They say that they will not buy anything but they take the clean cards with them just incase they find a deal.