HAVE debt problems taken over your life? Do you lie awake at night thinking how in the world you’re going to pay back your debts while still being able to support yourself and your family? Do you ever feel like you are working for nothing because all your income just goes to paying creditors every payday?
If you dream of simplifying your life, reducing your stress and regaining control of your financial future, deep inside you know that something needs to change. Everyone dreams of living a debt-free life and yet they continue to do the same things that put them in their present situation.
Remember, nothing will change…until YOU decide to change!
If you are one of these people, perhaps you are feeling a sense of urgency and desperation about your situation. You know that you need to make some big changes but don’t know where to begin. What should you do?
If you are financially strapped every month and are sick and tired of it, it is time to reflect and ask yourself: “How did I come to be in this difficult situation?” Remember those big debts always start from small debts.
Uncontrolled credit card use is a major culprit and has resulted in bankruptcy for a lot of people. Left unchecked, debt easily snowballs and before you know it, you are buried with no way out.
Most of our debt problems are also caused by our relentless pursuit and obsession with wanting to have more. I meet a lot of people who seem to always want more and more stuff even when they can’t afford it. They are easily influenced by the multitude of advertisements and they feel that they just need to have the best and the biggest all the time. They always need to have the latest toy or gadget.
This has caused an epidemic of stress, overwork and excessive indebtedness. It is not wrong to acquire debt per se, but borrowing more than what you need or can afford to pay back can have serious complications. Sometimes, it helps to just be grateful and content with what you have. If you let your lifestyle control you, you will never get ahead no matter how hard you work.
Of course, there are no magical solutions to debt problems just as there are no magical solutions to weight problems. The only sure way to lose weight is by consuming less. When it comes to managing our finances, it is the same way.
The only sure way of regaining balance in your financial health is by spending less than your income. There is no magical formula. You should learn to live within your means, spend less than what you make and SAVE THE DIFFERENCE.
Some people think that just because they are able to make minimum payments on their credit cards, they are OK. But if you look at the interest rates they are paying every month (usually 23-29 percent interest), there is simply no way that they will ever pay back what they owe in their lifetime. And they continue to charge every month as long as they have credit available.
It is time to stop the insanity! Before you can get out of debt, you need to stop creating new ones. And by refusing new debt, this is how you will be able to reduce your expenses so you are not left broke every payday.
If you are struggling with serious debt problems and have done everything you can to no avail, perhaps filing bankruptcy is your only option to either get rid of your debts completely or at least consolidate all your debts into one low monthly payment.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.