Posted on: 20 June, 2004
Author: David Wilding
... is vital to get rid of debt while things are going well. Just the opposite is usually thecase. Human nature is such that when wefind ... living in good times, we letdown our ... It is vital to get rid of debt while things are going well. Just the opposite is usually thecase. Human nature is such that when wefind ourselves living in good times, we letdown our defenses. We make our worstdecisions when our lives seem to be goinggreat.It is not hard to understand why thishappens. We believe things will always bebetter in the future. When Im done withschool. When I get a better paying job. Imsure I will get that promotion.With this type of attitude that extra lumpsum of money that comes your way or theraise at work is used as a springboard toincrease your personal debt. After all youcan now afford bigger this, better that.You assume in your linear view of lifethat tomorrow will take care of everything. You dont become concerned with yourdebt load until you are no longer able tomake 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 thanother areas of your life? If you know afood will give you heartburn you take apill and ,presto you are able to eat anything you like. If you cant find time toexercise, just take a pill and watch thosepounds melt away. The economy is built on the same I wantit now principle. If you want an item youjust whip out the plastic. You just had tohave it now. You will figure out later howto pay for it. When you have used yourplastic too much, you want out of debt inan easy way. You begin looking for themagic pill. Unfortunately this is where itcomes to a screeching halt.A woman, who I know casually, had noproblem with taking on more debt becauseshe saw 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.However things never remain the same andshe 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 one.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 towards getting out of debt in asystematic way. Until you are debt freeyou should order your life to make it a toppriority.Lifes 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.Copyright 2004 www.debtattack.com Source: Free Articles from ArticlesFactory.com