Debt is BAD!!!

This may come as a shock to many of you because we live in the land of buy now pay eventually, but now we also live in the land of debt collectors and foreclosure. Some of you don't know about this and some of you know this all too well. I hope that some of you never experience this but living beyond your means and not saving money is VERY BAD and credit cards are also VERY BAD. I may sound like I am talking down to you but I am just keeping it simple because it is very simple. Let's talk about the worst, credit cards.

I remember being told that using a credit card was a good way to establish credit but unfortunately I was not told that it is also a good way to ruin your credit and to get extremely in debt. I know every store throws offers at you where you can save 10 percent on your purchases if you apply for their credit card. It is tempting because we all want to save money but what they don't tell you is that if you are approved, you have to charge your purchase to the account. Sure you can pay it off as soon as you get the bill but now the temptation is there to have more things and not have to pay for them right away. If you don't pay it off right away then you are charged high interest rates. Before you know it, you have 5 cards and are unable to make the minimum payments. This is why so many debt consolidation companies are out there offering a way out. The thrill of getting nice things tempts us and having these cards makes it even more tempting and most of us give in. Unfortunately we spend ourselves into a hole until we can no longer see the light from the top or a way out. And don't think credit card companies care about you because they could care less. They just want you to be in debt to them so much that it would take you forever to pay them back and you will just keep paying and paying and they get more money. They only care about getting their money from you and getting you further in debt. Eventually you will get to a point where you are barely able to pay these bills and have to use the cards because you have no savings and something is wrong with your car or you need groceries, or you children need school clothes. Then you get to a point where you can't pay your credit cards, your credit is shot, and you are being harassed by debt collectors every day asking you for money and you can't buy a house because no one will give you a loan.

Now here is your solution. If you do not have a credit card, don't get one. If you do,stop using them and work towards getting them paid off, even if it means you get a second job so you have more money to do so. Say no to stores who offer you discounts if you apply for a credit card. They only lead to trouble and temptation.

Now some things you need to go into debt for like a house or a car and even school but save money for these things. Build a savings so you go into as little debt as possible and pay it off as soon as you can. Build yourself an emergency fund just in case. Things happen and you should be prepared with cash instead credit. We need to stop the trend of living beyond our means, develop a budget, invest in our future, and prepare for life's little upsets. You would be surprised how you could really improve your quality of life and occasionally get yourself nice things without a credit card and 2 mortgages. If you need help to get to that point, seek it out. There are many people who will help you and will work with you and advise you. The path may not be easy but no one sad it would be.