Climbing Out of Debt
Last time I was here, I wrote about a little slice of my financial life. I discussed how I began a life independent of parents but controlled by debt, and how I struggled to surpass it while living by my own. I then described myself today; finally free of debt, and finally standing up on my own two feet completely. And what do I do next? I thought about getting a housing loan.
This is the unfortunate financial state that many Americans find themselves in today. People in constant debt occupy the land of the free; starting with a student loan, and then graduating to paying mortgages for your family's home. Add in that loan for their automobiles, and the education plan that we have for their offspring, and you'll realize that we are only as free as our debts allow us to be.
This is one of the important things that we must change if we are to surpass the hardships of this recession. Debts on their own are not that harmful to the individual and our great country. But if that same person gets himself or herself in excessive debt, it could all blow up even if he or she could pay them all. All it takes is a little bump on the proverbial financial road.
There are only a few things more difficult than seeing things that you own repossessed; and all of it because you were unable to pay your debt? Avoid this possibility as much as you can! If you really need to get that loan, make sure that you have enough savings and extra income. Do this; and even if you do hit some bumps on the road, you'll have enough extra to offset the loss.
In the end, we must learn to practice frugality. This is not too hard to do, especially if you start learning the balance between frugality and happiness. Don't save up to the point that you end up not buying anything for yourself; reward yourself from time to time for a job well done. - 23210
This is the unfortunate financial state that many Americans find themselves in today. People in constant debt occupy the land of the free; starting with a student loan, and then graduating to paying mortgages for your family's home. Add in that loan for their automobiles, and the education plan that we have for their offspring, and you'll realize that we are only as free as our debts allow us to be.
This is one of the important things that we must change if we are to surpass the hardships of this recession. Debts on their own are not that harmful to the individual and our great country. But if that same person gets himself or herself in excessive debt, it could all blow up even if he or she could pay them all. All it takes is a little bump on the proverbial financial road.
There are only a few things more difficult than seeing things that you own repossessed; and all of it because you were unable to pay your debt? Avoid this possibility as much as you can! If you really need to get that loan, make sure that you have enough savings and extra income. Do this; and even if you do hit some bumps on the road, you'll have enough extra to offset the loss.
In the end, we must learn to practice frugality. This is not too hard to do, especially if you start learning the balance between frugality and happiness. Don't save up to the point that you end up not buying anything for yourself; reward yourself from time to time for a job well done. - 23210
About the Author:
Rick Amorey believes that shortcuts to success are a joke, and instead suggests the comprehensive program of Emini Trading. Build up your portfolio with the help of Emini Trading System, and watch your money grow like a carefully monitored seedling.
posted by X - Men @ 3:29 AM
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