Although bank credit cards are a relatively recent innovation, typically marked by the establishment of the “businessman’s Diner’s Club card” in 1950, U.S. society has historically depended upon the availability of consumer credit. For example, farmers depended on store credit before the harvest of their crops in rural America, whereas industrial workers were issued “script” for purchases in the company store that were later deducted from their wages. Significantly, both forms of consumer credit often produced a form of debt/labor servitude. This common experience was recounted in the famous lyrics of Tennessee Williams, “I owe my soul to the company store.” (more…)

As you enter adulthood, you will experience many changes and are facing with financial responsibility. You may go to college, start a new career, get married, have children, or move to a new city. These new life situations will affect your financial planning. Your personal values also influence your financial decisions. (more…)