Thursday, March 20, 2008

The Perils of Debt

One important thing that we face everyday on our day to day lives in this world is our financial situation. Some people get into trouble if they give in to temptation and acquire lots of credit cards. The next thing you know you’ll be drowning in debt. So many people, when they don’t know how to pay this debt, look to filing bankruptcy as a first course of action, but this will ruin their credit record for many years. Others will try to find alternative solutions such as Debt Management Plans. For my hubby and I, we always try to avoid getting additional credit cards that we do not need and pay our bills on time. We don’t want to worry everyday thinking about how to pay our debt, so we spend our money wisely because we already know how life is if you have debt. When we relied heavily on our credit card before, we arrived at a point where all we were doing was paying bills every paycheck with nothing left over for other essentials, not to mention family activities. So we started saving money and paying our debt and now I don’t want to go back to that kind of situation.

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