Doing without, the answer.
Am I right or am I wrong? In its simplest terms, isn't the Greek crisis the result of the Greeks importing more than they exported?
The same scenario is happening here, with New Zealand 68 million dollars in debt for what? For things that people covet, but don't need, and can easily do without.
In the 1960s, we had import restrictions and couldn't get a new car without personal overseas funds. There was a limited amount allowable for overseas travel, yet my husband and I had a wonderful five months' holiday without backpacking or scrimping. We also built our second home in the 60s although it still meant being willing to compromise in many ways. It is amazing what one can do without, and still have a worthwhile life style without Porsches and Italian kitchens.
Our present culture has become one where people believe they have an entitlement to anything they want whether they can pay for it or not. Borrowing is not the answer.
