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

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Debt Relief Information:

Related Articles

Student Loans Can't Be Swept Away Through Bankruptcy
Bankruptcy is in the news these days, as Congress has finally overhauled the Federal bankruptcy law after years of talking about it. The credit card companies, rightly or wrongly, have been pressuring members of Congress to tighten the bankruptcy statutes, saying that too many people were willfully spending money they couldn't repay with the intention of avoiding paying the money back by filing for bankruptcy.
Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors
Do you, like millions of other Americans, feel like you're sinking in an ocean of credit card debt? Well, fear not--there are many options for reducing your debt way before you have to be concerned about receiving notices or daunting telephone calls from debt collectors. The important thing to remember is to be proactive in handling your credit card debt.
Debt Management Systems
What is a debt management system, and when do you need it? Like any kind of management system, debt help systems can be good or bad. We will take a look at what you can do to manage your debt better.
How to Avoid Bankruptcy
Bankruptcy is a legal way to offer folks with high interest debt a fresh financial start in life. In case you are considering personal bankruptcy as an answer to your debt problems, you are not alone.
Bankruptcy, Is It A Way Out
Negotiations with creditors have failed. Repossession is imminent and foreclosure proceedings have begun.
Currency Trading Fee Concept
Troubles with Global Economy; Do you see future problems with our global economic plans to make a one world system, where free trade and prosperity can rein the world over. Many world leaders have agreed a one-world system is best for all.
Debt and Financial Optimism in the UK Continue
With £1.3 trillion pounds worth of debt in the UK, Scotland's Citizens Advice Bureau has welcomed a new Bill to regulate lenders and protect borrowers from creating un-repayable levels of personal debt.
Get Debt Free
If you once have been caught in the debt trap, how do you come out of it and be debt free? We are different and each of us has our own lifestyle and our own financial state, so the way to debt elimination is different from person to person. One plan will be good for some, but not for others.
Debt Collectors; And what you can do to Get Them Out of your Life
FTC opinion letter on validation Section 809(a) of the FDCPA, 15 U.S.
What is Debt Settlement and How Does it Work?
Debt settlement involves negotiating with a creditor or creditors to pay off a percentage of your total debts at an agreed upon settlement amount. Often, people choose to utilize the services of a debt settlement company rather than attempting to do it on their own.
Five Hot Tips To Get Out Of Debt Forever
The financial and psychological burden of being in debt causes us and our families continuous emotional stress. That stress eats away at the quality of our lives and leaves us feeling powerless, angry, depressed and helpless.
Debt Free Living - 5 Tips To Get Out Of Debt
A few times I wonder what sort of credit system moved the global economy 200 years ago. If the intention of getting into a business is meant to 'help' fulfill the needs and wants of someone, I don't see how credit card salesmen can drove more people into debt and backruptcy.
Solutions to Single Mothers in Debt
As a single mother, lets admit it, times get tough. You are fortunate enough to have your children that mean the world to you, but it doesn't come cheap.
Do It Yourself Debt Relief
With mounting bills and unforeseen hardships, you may be considering some form of debt relief. There are many options to help you, but the best may actually be you helping yourself.
Credit Card Debt: How to Get Rid of It
This method is simple, but requires some discipline.First, you have to stop any new spending on your cards.
Credit Card Debt & the Unfairness of the Universal Default Clause
Let's look at a real world example: A woman purchased a new $4,000 large screen TV a few months ago based on the knowledge her monthly payment was going to be $175, and based on the 9% interest rate charged by her credit card company. For five months straight she made all her payments on time, but in the fifth month she was late paying her mortgage bill, for reasons unknown.
How to Negotiate Debt Settlement
People over extend themselves financially as a result of a change in their lifestyle. In today's economy were company mergers, and such; creates a displacement and hardship to the major of the workforce.
Craving For Financial Freedom
Have you ever felt trapped in a Rat Race and wished to retire quickly but rich?Have you ever felt that you are spending way too much time working with your boss at your office instead of with those you love? Your spouse, children, friends?Have you ever felt frustrated because you are so deep in debt that you think you won't be able to retire because as soon as you do, the money will stop coming and thus you won't be able to pay off your mortgages and credit card?Have you ever felt that you have no control over your life anymore in terms of time? Think about it: can you take a vacation just anytime whenever you want/ need it and as long as you want/ need it?Have you ever wished that you can work whenever you want and wherever you want?You are not the only one!Too many people are trapped in a Rat Race because they have to. There are too many bills to pay, and too many dreams to fulfill.
The Credit Card Debt Termination Scam
"Legally terminate credit card debt! You can be debt-free in 4-6 months!" Advertisements like this are for a new type of program that has spread via the Internet over the past few years. It's called "Credit Card Debt Termination," and victims are paying $1,000s for this bogus service.
The New Bankruptcy Law -- How Will It Affect Debt Negotiation?
In April 2005, Congress made sweeping changes in U.S.