Much of the debt that people face today is caused by acting before any serious thinking is taking place. The product marketers know all too well that most people buy a product based on an emotional appeal, rather than an intelligent one.
A common example of this is spending more than you bring in each month. Most people easily know enough math to understand that you cannot keep on paying the bills each month if you spend more than you bring in. It doesn't compute in anybody's book, yet people stop thinking about it and the debt increases with no way to pay it off.
Another common practice is to provide a temporary debt solution that does not really solve anything. This happens when you continually take your current debt and pay it with a credit card or shift the debt to another balance transfer credit card. While this will help someone who is trying to pay it off and does not charge any new debt, it won't work if you keep on practicing spending more than you pull in.
A better idea might be to get serious about your debt and make some real plans about debt elimination. Stop paying precious money you don't have in interest charges and put extra money each month toward reducing your debt. This will reduce it much faster, save you money, and let you make some better plans with that money when the debt is gone.
June 3rd, 2010 at 3:57 am
Hi Blogger,
I like your post, and I have some query regarding a guest post. Since I am a financial writer that’s why I was wondering that if you allow me to post an informative relevant article on this site.
I do apologize since I am writing in the comment section as I haven’t found any contact details, Please provide me your email address so that I can send a formal application letter for the same.
Looking forward to hear from you soon.
Thanks and regards
Kevin