Moneywatch101, Personal Finance, Money, Life, Debt, Savings
What is debt ? Is it just a financial crutch that should be with us forever. Can it really be that bad for our everyday financial snap shot? I feel it is, but many people tend to think that we all need to have debt in order to build credit. That is what the banks want you to believe, because if you do not carry debt then they lose a ton of revenue aka dollars in their pockets. They even established or secretly helped to establish the FICO credit scoring agencies. Debt is a benefit only for banks, mortgage companies, and credit reporting agencies. Debt is never in your best interest, besides allowing you to buy something that you cannot afford right now. As you clearly can read the quote theme for this week is based about debt and how to view it in a different light.
The only time debt is somewhat acceptable to a tiny degree is for a mortgage. Why because most people cannot save up a huge amount of money in a normal time frame to buy a home. We all have been plagued with debt in one point of time or another, but guess what, you can turn it around starting right now. Make an oath to get rid of the chains strapped around your ankles, so that freedom can slowly settle in as you transition to being a financial expert. Merely watching your money and never adding debt will make you better financially speaking than most people.
The Best Quotes 8 :
Debt is my enemy it robs me of my time, thoughts and energy. – Rich Uncle EL
Debt is not viewed right; it should be viewed as your biggest hater – Rich Uncle EL
If banks had your best interest in mind, then they would not charge you interest. – Rich Uncle EL
If you are saddled with debt, make a payoff plan beginning today and stick to it. Every penny paid towards the amount owed counts towards reducing future debt and further interest charges. If you want to read further information on this topic – look below. These articles will give you the motivation you need to live free now and forever. Remember debt is not something that has to be a part of your life, when handled correctly you can eliminate it and delay big purchases only when you have the funds readily available in cash.
How to get out of Debt – The Complete Guide
How I Eliminated my Debt in less than a Year
News Flash: Your Debt is an Emergency
Financial Free for All: 9 Tips to Avoid Money Anxiety
If after reading these articles and the quotes 8 above you still feel attached to your debt then you need to see a shrink as soon as possible to treat you for the numerous mental illnesses currently in your head.
Comment if you feel a certain way about debt or if you overcame a big debt hurdle?
Rich Uncle EL
Quotes 8 is a post from: MoneyWatch 101
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