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Dont Let The Good Times Bury You
It is vital to get rid of debt while things aregoing well. Yet the opposite is usually thecase. Human nature is such that when wefind ourselves living in good times, we letdown our defenses. With our lives goinggreat we seem to make the worstdecisions. It's not hard to understand whythis happens. We believe things will alwaysbe better in the future, "When I'm donewith school, When I get a better payingjob, I'm sure I will get that promotion."
With this attitude, that extra lumpsum of money, or the raise at work, isused as a springboard to increase yourpersonal debt. After all you can now affordbetter this, bigger that. You assume inyour linear view of life that tomorrow willtake care of everything. You don't becomeconcerned with your debt load, until youno longer can make the payments.
When you begin to feel the squeeze ofdebt, you want some quick fix to get youout of trouble. Unfortunately there are noquick fixes for debt that will leave you (oryour credit report) unscarred.
But why should it be any different fromother areas of your life? If you know afood will give you heartburn you take apill and, "presto," you may eat any thingyou like. If you can't find time to exercise,just take a pill and watch those poundsmelt away.
The economy is built on the same "I wantit now," principle. If you want an item,you just whip out the plastic. You need itnow. You will figure out later how to payfor it. When your plastic can take no more,you want out of debt in an easy way. Youbegin looking for the magic pill.Unfortunately the drugstore closed a longtime ago.
A woman, who I know casually, had noproblem taking on more debt because shesaw herself able to handle the extrapayments. She reasoned, if everythingremained the same she could handle thedrain on her income. So she bought someexpensive gift items on her cards andbegan making the monthly payments.
She found out rather quickly she could notsee into the future very well. Her car gaveout on her. The repairs exceeded the valueof the car. She needed one for work, soshe bought another.
The new payment wiped out the tinycushion she had each month and also madeit impossible to pay on her credit cards andstore accounts. Today she finds herselfhounded by her creditors and unable topay them anything.
What she should have done, and what youshould do, is pay off your debt while youcan and not take on any more. Whateverextra you have each month should beapplied toward getting out of debt in asystematic way. Until you are debt free,you should order your life to make it a toppriority.
Life's pressures are more easily handledwithout money worries dogging you. Thenwhen those big promotions, with those bigraises come along, you will be trained toput some aside. And without debt to takecare of, you can. The goods times then,truly, will be the good times.
(c)2004 David Wilding
David Wilding has worked with individuals and groups to help them get rid of debt. He has, for the past ten years, attempted to change attitudes toward and the acceptance of personal debt. Visit his website http://www.debtattack.com for more ideas, tools, and strategies to make yourself debt free.
MORE RESOURCES:
 Card Trak | Obama Credit Card Debt Relief Program – New Act to Help Lower Debt Load Subprime Blogger (blog) The Obama credit card debt relief program was designed to help all Americans alleviate their credit card issues. The new Credit CARD Act that was signed ... Credit Card Debt Relief: 3 Simple Steps Credit Card Debt Relief Self-Help Tips Offered by Total Debt Relief ConsumerDebt and New Federal Credit Card Act (CARD) to be Topic of March 9 ... |
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 Reuters | HAITI: US Acts Quickly on Debt Relief Ahead of Preval Visit Inter Press Service "I have long been a proponent of debt relief for low-income countries to enable them to focus on providing health care, education, and other vital services ... Senate supports Haiti debt relief |
 MiamiHerald.com | Highlights of Senate bill extending tax breaks, jobless aid Gaea Times (blog) It meets and exceeds all government regulations on sexiness. amortgagedebt Government Credit Card Debt Relief Program CARD Act Offers New Rules and ... State capitol report: House Dems push on for reform |
Debt Relief (Developing Countries) Bill Committee DeHavilland (press release) (subscription) The Debt Relief (Developing Countries) Bill Committee has met to consider the provision of the legislation. The Chair: Good morning everybody. ... |
 Los Angeles Times | Justices to Hear Funeral Protest, Vaccine Cases Courthouse News Service (CN) - Bankruptcy attorneys must identify themselves as "debt relief agencies" and can't advise consumers to rack up more debt before filing for bankruptcy, ... Supreme Court Rules on Bankruptcy Advice, Takes Funeral Protest Case Legal Briefing: Are Hateful Funeral Protests Protected Speech? |
Gov: Debt relief needs regulation The Detroit News Credit unions, banks and regulated debt management companies can help consumers with debt relief, she said, while unregulated settlement programs can be ... Warning For Debt Relief |
Obama Refinance Plan – Need Mortgage and Home Debt Relief Today? Subprime Blogger (blog) Many American homeowners are in need of mortgage and home debt relief. The Obama refinance plan was created to help all Americans gain access to lower ... |
 CNBC | High Court Finds Lawyers and Their Advice Covered by Bankruptcy Reform Law The American Lawyer Consumer bankruptcy lawyers are "debt relief agencies" under a 2005 federal bankruptcy law and restrictions on the type of advice they can give clients are ... Justices reject First Amendment challenges to bankruptcy law MILAVETZ, GALLOP & MILAVETZ, P. A. v. U.S. Silenced! High Court Upholds Ban on Type of Legal Advice |
Obama Credit Card Debt Relief Plan – Get Out of Debt in March 2010 Subprime Blogger (blog) The Obama credit card debt relief plan was designed to help Americans get out of debt as soon as possible. If you are looking to take the necessary steps to ... Why Debt Relief Can Help You and the Importance of Identifying a Professional ... Best Credit Card Debt Relief Programs: How to Get Started Free Credit Card Debt Consolidation Programs For The Best Credit Card Debt ... |
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