Debt Free and Loving It
by Stacy Seybert
FeedTheVillage.com - Money Issues - Debt Free
In this day and age of immediate gratification I must seem like an anomaly. I have developed a simple rule over the past several years. If I can't pay for it I don't buy it. This sounds like common sense but how many people follow it. Credit cards are the most marketed product in the United States. Don't believe me, check your mailbox. I like to purchase items as well as anyone I just don't like the debt looming over me. If I am considering a purchase that may be somewhat out of reach, I develop a plan and I save up for it. Our most important asset is our income, our ability to make money. If all of our dollars are already dedicated to other expenses that leaves little room for error. Just ask someone whose mortgage rate has recently adjusted upward. We as a society are so fixated on keeping up with the Joneses. Don't bother. THEIR BROKE. I've seen their mail. Make adjustments to your lifestyle. Why buy that new $30,000 car if an $8000 one will accomplish what you need. Pay cash for your purchases. Who wants to be paying for Christmas '07 in June of '08. Again I say, credit cards are the most marketed product in the history of the United States. Why? Because the issuer is making a huge profit off of the user. Sometimes to the tune of 30% or more. Here is an idea, you keep the 30% you might pay in credit card interest, save up cash and pay for what you want. If you are willing to sacrifice now you will be who everyone is trying to keep up with later. Now that is an anomaly.
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