Yesterday Ilona and I decided to do a collaboration post on debt. You can find Ilona’s blog at https://easydiet.blog , she has a great blog with a lot of good advice on many topics dealing with issues of our daily life.
About Debt Experience.
Talking about debt is a touchy subject for many. I’m talking finances, and it impacts the lives of the majority of people in many countries. Here, for every dollar earned, people owe $1.75. Doesn’t sound too bad? It means that most people will never get out of debt their whole life. Sometimes debt is unavoidable, such as buying a house. But most debt is bad choices. I’ve been there and it isn’t fun. It’s plain stressful. You work hard to pay off the debt and hardly pay the interest. But why are you in debt? You need a car, but you don’t need the most expensive one you can find. Just because your neighbor bought a new car, doesn’t mean you need one. Maybe your neighbor goes on expensive vacations twice a year.
Does that mean you have to go on the same vacations? Vacations are good, if you can afford it. But don’t go into debt for it. Need new clothes? Are you sure? Last months clothes are suddenly no good because your friend just bought new clothes? Do you really need to eat out every day? And put it on that nice piece of plastic so you don’t see it? Until the end of the month. Buy this and that on easy payment plans. Sounds great. But it adds up, fast. And you are barely making the minimum payment each month. You forget to look at that line that says how long it will take to pay it back. 64 years! Hey, that’s not a fairy tale. I have been there. But I got out. How? By keeping to things I could afford. Paying cash. AND, concentrating on getting that debt paid down. Which isn’t easy, I understand, but it’s worth it!
About Having No Experience With Evil.
I had never experienced debt, because i think is not alright to over pay, i better find few extra jobs on the side for few month until i get enough to buy what i need or what i want. I never had to pay for studies, i was blessed to grow up in France, yes we have huge tax everywhere and on everything, but at the end we have good medical care which is free and free educations as well.
You always should think twice before entering in this vicious cycle of debt. It feel lile a way out sometime but in can be a way to be in bigger trouble. Some people take loan to pay the loan and again and again. At the end you pay a huge amount of money to banks and it make your trouble just worst. In certain case there is sadly no choice like for studies in country as America, where it cost an enormous amount of money. I m lucky to live in a country where it is free to learn, it should be everywhere like this. Every human should be equal but this is another subject.
That’s it for now folks, hope you enjoyed it!
Steve, with special guest Ilona.