According to their accountant, Mr. and Mrs. Asu are in trouble.
Annual income: $25,000 (this has been declining for years)
Annual spending: $36,000 (this has been increasing for years)
Credit card debt: $161,000
Total debt: $700,000 (includes all their obligations)
Mr. and Mrs. Asu aren’t employed. Their income is provided by their children who are old enough to work, but are still living at home. Child 1, with the best job, pays $20,000 per year. Child 2, with the second best job, pays $5,000. The other two work but don’t pay anything. They are the parent’s favorites.
Mr. and Mrs. Asu have max’d out numerous credit cards and all of their income goes to make the minimum payments. But, they continually find ways to obtain new cards and keep spending more. In fact, this is the delight of their lives.
[Read the rest of the article at Truth Observed.]