Americans Ought To Worry About Their Debt
Tuesday, September 4, 2012, 2:00 AM | Leave Comment
Is your brain melting from worrying about your debt? If you are heavily in debt, start worrying. That’s one of the ways to start getting rid of your debt. You must stand firmly on your own two feet, financially speaking, of course. I hope this blog and other numerous blogs can help you get rid of debt or at least reduce it to a manageable level.
Without worrying about your debt and not planning to eventually eliminate it from your financial life, your brain will keep melting, so to speak.
There are many articles online (including this blog) and offline that will not only inspire you but help you in very concrete ways to get rid of debt.
Doable Finance, for one, is here to scoop you up with the latest in inspirational yet practical ways of how to get rid of debt and stay out of it.
Get smart on the various debt issues and prep your brain for learning. It’s one thing to learn the different ways of how to get rid of debt, especially the one coming from your reckless spending using credit cards, it’s another thing to actually put into practice whatever method suits you.
We all know it’s not the government (all three branches) job to get you out of debt and it’s not the job of any one else for that matter. However, from time to time, the government might lure or tempt you to spend more because two-thirds of the U.S. economy depends on consumer spending.
American are not worried about their debt…
Americans ought to worry about their debt, but according to a survey by CNBC.com of over 12,000 folks, 40% of folks are not worried about their debt.
On the one hand, Americans feel that they are overwhelmed by debt and many are unable to pay back what they borrowed. On the other hand, they are not worried about their debt.
I am stunned by Americans response
In my opinion, that is quite unnatural. That’s not the American way. The natural way is when you borrow, you must have a plan to return the money intact. I am stunned by the American response and so is my buddy.
There comes a point in every man’s (and woman’s) life when he has to say, “Enough is enough.” We all have to stop reckless and needless buying spree. We all have to start looking after our children benefits and not leave the debt chain around their neck after we expire.
Don’t be a slave to your debt…
Instead, be a master and control your financial destiny. Use credit wisely. After using it, return it to its proper owner within the mutually agreed upon time.
That ought to be the American way. But the last so many years, we have seen quite the opposite. Americans are not playing the game of credit and debt fairly.
The reason I am saying this is the numerous bankruptcies that have occurred during the last five years or so and is simply just mind boggling.
If the debt that you have accrued is because of your reckless and needless buying, then you ought to stop doing it. You ought to save and just have to learn to live within your means and without the new needless purchases in your financial life.
Have a burning desire…
You must have a burning desire, a combustive behavior in your person to start paying off your debt. At least, bring it to a level that you can manage it easily without losing your livelihood. On the contrary, you would gain your livelihood back and would feel as if you are at the top of the world.
Being a naturalized citizen of the U.S. for more than 30 years, my mental attitude towards debt is as different than folks who were born in America as night and day.
Except for mortgage loan, we as family don’t carry debt. Before we buy something, we make sure we are able to pay the bill in full and before the due date.
In a Nutshell
We all have to get credit sometimes. Credit is our livelihood. But we must have a plan how best to return it without sleepless nights and without worrying about it.
Americans have a different mentality and have a different attitude about debt. They are not worried about it.
Americans have made their life simpler. Borrow but don’t pay it back. Declaring bankruptcy is the easiest way out. No shame, no regrets, no remorse. That has become the American way. Excuse me for saying so but that seems to be the truth.
