One thing i’ve learned about debt is that its easy to walk into debt but hard to walk out of debt. For example, I recall putting one of my college courses on a credit card because I had to pay up front in order to take the class. Well the class ended up taking me a year to pay it off. I also ended up paying way more than I wanted to pay for one course. I hear countless stories about college debt that people have had for years. Obviously college years are when people are broke and working just to pay the car and rent if you live out on your own but I also think that people are quick to put college and loans in the same sentence. I know i’ve been there and have heard the lingo. In fact, my wife and I just filled out the FAFSA online and one of the options was receiving federal loans. The temptation was to put a checkmark and go to school with somebody elses money. Ha, really somebody elses money.
Debt is your money that you’ve yet to make already spent. -Fabian Ramirez
Sorry I had to go back and bold that statement and give credit where credit is due. <–One of the only time sI use “credit”, lol.
Seriously, debt is the enemy and you should do whatever it takes to stay clear of it. If you bank online and can see your credit card accounts and want to be debt free direct funds to those accounts so you can pay them off slowly but surely.
The truth about debt is that you do not need a plan to get into debt but you must have one to get out. Start tomorrow today by reducing my lifestyle expenses. Sell on Craigslist, bring your lunch everyday to work, only order water when you eat outside the home. Take drastic measures today so you can break free from American bondage, debt. I’m Debt Free Hispanic and I don’t borrow money. I’m 27 years old as of this writing and I will retire rich. Will you?
I agree that it is hard trying to stay out of debt but at the same time its great. A great relief from all the stress however there is still stress when you have unexpected expenses such as medical coming up and you need to cut short your savings for the budget to meet the monthly expense.
However, the use of credit cards will only become more necessary for business purpose and security.