Tuesday, November 27, 2012, AM | Leave Comment
The title suggests debt is purely American but it’s not. Whoever is not careful with their personal finances especially spending, debt will follow. In many cases, it has followed to their graves.
Debt is color blind, knows no religious boundaries, and is not dependent on a specific ethnic group of people. And that is the beauty of it when you think about it.
Debt, over centuries, has loved humans. In some cases, the reverse is true as well. Believe it or not, some folks just like to be in debt.
If you are not careful in your spending, debt clings to you like a leech with suckers on each end. One of its jobs is to cling to you and suck the blood out of your body parts.
A leech can be as small in size as half of inch or can be as large as ten inches in length. The same is true for debt. It can be as small as a couple of thousands of dollars or as large as hundreds of thousands of dollars.
However, depending on your financial status, small or large amounts of debt don’t make much difference. Your ability to pay it off is the main difference.
Don’t get into debt when you don’t have to…
Instead of someone telling you ways to scrounge up enough money to pay off your debts, your best bet is you and you alone to change ways of living your financial life.
The best way not to get into debt is not to buy anything you cannot afford. Paying as little as possible of your own hard-earned cash to buy what you really need is the best way of avoiding debt.
Most books and blogs for that matter that claim to be about getting you out of debt are really just about good old-fashioned financial prudence.
If you do have to use other people’s money, like using your credit card, you must have a plan to return the money to its proper owner. Pay back the same amount as you have spent by paying before the due date and in full. Avoid paying interest and financial charges.
In the modern world…
In the modern western world, we have made debt into a huge business. In many aspects, it has become an unavoidable part of our financial life.
For many, it has become a complicated maze with no exit whatsoever. That may be true for many millions of folks but there exists a group of people who shy away from accruing debt.
I personally use credit card a lot, even for a gallon of milk ($3.) But I make sure that I pay the whole credit card bill before the due date and in full.
If you are not careful, you can easily get into debt. You can always step into the debt shit whether you like or not. For many, American way of life means it’s okay to acquire debt. But that does not have to be so.
You can live a more satisfying financial life without stepping into the debt shit because when you taste the easy life of debt, a time may come that without it you might as well stop living in dreams and wishful life which seems to have become American way of life.
To live on money that belongs to someone else is not living a good financial life especially when some folks don’t even plan on repaying their debt.
In a Nutshell
Be extra diligent when you want to spend. The basic principle is not to spend more than you make so you live within your means.
Let’s listen to Yolanda Be Cool singing We No Speak Americano
Debt once again is not exclusively owned by Americans. They would be glad to share it with the world if they could. However, it can happen to anyone if they are not very careful in their spending.