Staying Out of Debt
Last time I was here, I wrote about a little slice of my financial life. I discussed how I began a life independent of parents but controlled by debt, and how I struggled to surpass it while living by my own. I then described myself today; finally free of debt, and finally standing up on my own two feet completely. And what do I do next? I thought about getting a housing loan.
This is the sad financial situation that many Americans find themselves in these days. The land of the free occupied by people in constant debt; starting from an innocent student loan, and then going on to paying mortgages for your family's home. Factor it that loan for their vehicles, and the education plan that they have in place so that their children will not suffer as much debt. Only by seeing this big picture will you realize the truth; we are only as free as our debts allow us to be.
This is one of the main things that we must change if we are to get out of this recession. Debts, by themselves, are not too harmful to the individual and the nation. But if that same individual gets himself or herself in excessive debt, it could all blow up with a simple drawback such as temporarily losing a job.
Very few things are more difficult than seeing things that you own repossessed because you couldn't pay your debt. Avoid this scenario as much as you can! If you must take that loan, make sure that you have sufficient savings and excess income. This way, even if you do hit some bumps on the road, you'll have enough extra to mitigate the loss.
In the end, we must learn to practice frugality. This is not too hard to do, especially if you start learning the balance between frugality and happiness. Don't save up to the point that you end up not buying anything for yourself; reward yourself from time to time for a job well done. - 23223
This is the sad financial situation that many Americans find themselves in these days. The land of the free occupied by people in constant debt; starting from an innocent student loan, and then going on to paying mortgages for your family's home. Factor it that loan for their vehicles, and the education plan that they have in place so that their children will not suffer as much debt. Only by seeing this big picture will you realize the truth; we are only as free as our debts allow us to be.
This is one of the main things that we must change if we are to get out of this recession. Debts, by themselves, are not too harmful to the individual and the nation. But if that same individual gets himself or herself in excessive debt, it could all blow up with a simple drawback such as temporarily losing a job.
Very few things are more difficult than seeing things that you own repossessed because you couldn't pay your debt. Avoid this scenario as much as you can! If you must take that loan, make sure that you have sufficient savings and excess income. This way, even if you do hit some bumps on the road, you'll have enough extra to mitigate the loss.
In the end, we must learn to practice frugality. This is not too hard to do, especially if you start learning the balance between frugality and happiness. Don't save up to the point that you end up not buying anything for yourself; reward yourself from time to time for a job well done. - 23223
About the Author:
The trading business carries no guarantee that you'll profit, and don't let anyone tell you otherwise. Rick Amorey instead suggests the comprehensive program of Emini Trading. Build up your portfolio with the help of Emini Trading System, and watch your money grow like a carefully monitored seedling.
posted by X - Men @ 3:29 AM
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