Drug testing

Debt Free Living - 5 Tips To Get Out Of Debt

A few times I wonder what sort of credit system moved the global economy 200 years ago. If the intention of getting into a business is meant to 'help' fulfill the needs and wants of someone, I don't see how credit card salesmen can drove more people into debt and backruptcy. Clearly most people fail to have a good understanding of the increasingly sophisticated (and complicated) terms and conditions behind the card they apply for, how it benefits the bank more than the applicant and what the ubiquitous card is best used for.

The 'cashlessness' of the advanced world surely works its illusions into the minds of those caught up in the disease of consumerism, who found it too easy to buy anything anywhere with a flash of the card without realizing the interest incurred to the bank everytime a purchase is made. Before you get the math right, you must get personal spending principles and habits right first, and only then you will attain self-awareness and a conservative mindset that lights up a red warning in your head just when you are about to make a purchasing decision.

Here are 5 tips for you to get a headstart:

1) It's not how much money you make (or spend); it's how you can keep. I didn't say this. Robert Kiyosaki said it. Far too often poor people never carry happiness within themselves and depend on external sources for their own happiness, so they either buy to impress others or get a certain 'nice' indulgent feeling for having new things. Mathematically speaking, if that new thing does not serve a purpose or even a significant function, it is a wasted loss.

2) Forget credit; get debit. A debit card is quite similar to your ATM card in that it deducts directly from your account on purchase and can be used worldwide. The credit card enables you to BORROW money from your bank to fulfill a particularly expensive purchase provided you pay back the loan PLUS the interest incurred in the form of monthly bills. Based on track record, if you have always fulfilled your credit obligations, your credit ratings will get better, leading to better protection and concessions. But unless you typically deal with large transactions and understand your spendings cycle, you are better off making your life simpler just knowing exactly where YOUR money--not the bank's--goes if not into your account.

3) Be conscious of your financial balance. Do a monthly plan-and-review for your savings and expenditure. Those items that you have to buy with your card...how necessary and regular is it? Why is it an investment to you and to other people like your family? What else can be cut down? Sometimes you must realize your financial decisions do impact your immediate loved ones and this is a significant consideration to take care of.

4) Use your card only for emergencies. I don't know how many times I've been reminded by my elders but don't get rebellious for the sake of it.

5) If you are facing a tighter budget, you did better confront the problem sooner than later. Discuss with your immediate loved ones and financial advisor where the finer problems lie and they are sure to help, not to aggravate your situation, because if it doesn't affect you, it will affect them and your relationships.

The debt problem is not one on a personal scale but a prevalent one worldwide. It is a sickness infecting people who grow too worried witnessing the exorbitant increase in the cost of living everywhere they go, whether it's in the New York or Kuala Lumpur, so they keep on borrowing in order to 'stick their neck out'. Wrong thinking: it becomes a vicious cycle that feeds on itself, pushing you closer to losing it all than ever before.

Come one day, you finally wake up from your debt problem when the bank or creditors start knocking on your door, and you don't want that to happen. Stop being influenced by what goes on around you but to take good stock of your financial attitude and well-being. You have a choice not to get involved with your bank 'deeper' than you need. It's time to be happy living within your means. Be grateful for what you have now and work the most out of your current resources, then you will find better use for your pair of scissors than to cut up credit cards.

Justin Koh is a freelance writer whose articles have appear in most major ezines. You can find more of these at: http://www.debtcenter.info

You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication would be appreciated.

limousine chicago service
In The News:

Pay Off Your Student Loans and Reduce Your Debts

Financing a college education is one of the more expensive... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

Craving For Financial Freedom

Have you ever felt trapped in a Rat Race and... Read More

Budgeting and Debt Management

Debt management (specifically unsecured) is the first step to taking... Read More

Your Secret Weapon... A Budget

For many, the word 'budget' immediately sends shivers down the... Read More

Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors

Do you, like millions of other Americans, feel like you're... Read More

How to Become Debt Free

In today's consumer society it is all too easy to... Read More

Bankruptcy: Which Chapter Do I File?

There is more than one kind of bankruptcy. You should... Read More

Are You Beating Up On Yourself About Debt?

When you hear the word "debt", whats the first thought... Read More

Debt Relief with this Simple Formula

Is there a way to get out of debt without... Read More

Selecting A Credit Counselor; Asking The Right Questions.

When you find yourself thinking about using a credit counseling... Read More

Is There Any Way To Get Out Of Debt?

In this era where we are bombarded daily with commercials... Read More

Slowing Spending - The Key To Your Debt Plans Success

Anyone who embarks on a debt reduction program should know... Read More

How to Avoid Bankruptcy

Bankruptcy is a legal way to offer folks with high... Read More

Bankruptcy: Who is to Blame?

If you are considering bankruptcy as a solution to your... Read More

Reduce Your Debt

Do you want to reduce your debt? Having trouble paying... Read More

Debt Management - Is It the Right Choice For You?

Debt Management plans offer credit counseling clients a different and... Read More

Credit Counseling ? Signs That You May Need Help

Credit counseling is a viable option for those who are... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More

Worried About Debts?

Having trouble paying your bills? Getting dunning notices from creditors?... Read More

Credit Counseling or Bankruptcy: Which is Best for You?

People often get to a place where they simply can't... Read More

Out of Credit Card Debt - Without Filing Bankruptcy

To be out of credit card debt is your dream... Read More

The Simple $10 Debt Elimination Solution

Ask a friend what resolutions they made for 2004 and... Read More

Debt and Your Dreams

You may not realize what that credit card bill is... Read More

Home Equity ? Foreclosure Often Not Necessary in Current Market

While driving around your community, you may have seen signs... Read More

led vs induction lighting 2700k led Pete's produce ..