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It feels like everyone I talk to or know of have some level of debt that they are dealing with. It also seems like most of us are living paycheck to paycheck at this point just scraping by just like the rest of the world that’s dealing with the global economic melt down. So what can we all do on a personal level that most of the governments around the world can not seem to do. If you are no dealing with an overwhelming amount of debt and you are on good financial ground right now, congratulations you are in the minority!
The majority of us are dealing with a certain amount of debt and a good portion of the majority are in debt beyond our means. So what do we do? Well the steps to get out of debt are actually quite easy, common sense and can be easily found in books or on the internet. Here are the more obvious steps to take.
First and foremost, stop spending more than you make!!! Duh! If you are willing to spend more than your paycheck is week after week than that would be your first sign that you have a big problem. As for credit cards, these are the work of the devil as far as people who can not control their spending habits is concerned. Just a wicked temptation that if you can not control, need to be put away out of your hands immediately! Some people simply can not have credit available to them. It becomes a habitual habit that just spirals out of control and a lot of people have this problem, heck most governments have this problem!!!
I think there in lies the real root of the debt problem is that in general we spend more than we have and we tend to live in a credit based society. Either through loans, mortgages or credit cards and then when you get to the government level it goes to a whole new level of credit insanity. Spending beyond our means seems to be the down fall of all of us at some point or another. When ever that exact moment in time was when some one thought of the concept of loans and credit that’s the moment in history I think where we made a wrong turn. Agree or disagree?
Share Your Opinions and Thanks for Reading,
Carpe Diem!
2 Comments
Well, aside from credit cards.. banks today are also targeting debit card holders. The amount of overdraft fees they charge is simply incredulous.
Tell me about it I think the bank that goes by the initial BofA
charges a whopping $35 for their overdraft fees…. insane!
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