It is vital to get rid of debt while things are

going well. Yet the opposite is usually the

case. Human nature is such that when we

find ourselves living in good times, we let

down our defenses. With our lives going

great we seem to make the worst

decisions. It’s not hard to understand why

this happens. We believe things will always

be better in the future, “When I’m done

with school, When I get a better paying

job, I’m sure I will get that promotion.”

With this attitude, that extra lump

sum of money, or the raise at work, is

used as a springboard to increase your

personal debt. After all you can now afford

better this, bigger that. You assume in

your linear view of life that tomorrow will

take care of everything. You don’t become

concerned with your debt load, until you

no longer can make the payments.

When you begin to feel the squeeze of

debt, you want some quick fix to get you

out of trouble. Unfortunately there are no

quick fixes for debt that will leave you (or

your credit report) unscarred.

But why should it be any different from

other areas of your life? If you know a

food will give you heartburn you take a

pill and, “presto,” you may eat any thing

you like. If you can’t find time to exercise,

just take a pill and watch those pounds

melt away.

The economy is built on the same “I want

it now,” principle. If you want an item,

you just whip out the plastic. You need it

now. You will figure out later how to pay

for it. When your plastic can take no more,

you want out of debt in an easy way. You

begin looking for the magic pill.

Unfortunately the drugstore closed a long

time ago.

A woman, who I know casually, had no

problem taking on more debt because she

saw herself able to handle the extra

payments. She reasoned, if everything

remained the same she could handle the

drain on her income. So she bought some

expensive gift items on her cards and

began making the monthly payments.

She found out rather quickly she could not

see into the future very well. Her car gave

out on her. The repairs exceeded the value

of the car. She needed one for work, so

she bought another.

The new payment wiped out the tiny

cushion she had each month and also made

it impossible to pay on her credit cards and

store accounts. Today she finds herself

hounded by her creditors and unable to

pay them anything.

What she should have done, and what you

should do, is pay off your debt while you

can and not take on any more. Whatever

extra you have each month should be

applied toward getting out of debt in a

systematic way. Until you are debt free,

you should order your life to make it a top


Life’s pressures are more easily handled

without money worries dogging you. Then

when those big promotions, with those big

raises come along, you will be trained to

put some aside. And without debt to take

care of, you can. The goods times then,

truly, will be the good times.

(c)2004 David Wilding

Source by David Wilding

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