Not only do you have those small, unsuspecting ways you get yourself into trouble with debt that slowly and incrementally build up until you eventually find yourself in over your head. But then there’s those big dollar purchases that you need to become aware of also. Those are the ones that should be more avoidable, because you generally see them coming.
Like that brand new motorcycle, snowmobile, boat or jet-ski you just have to have or the extravagant, exotic vacation destinations, or that giant flat screen TV with the upgraded surround-sound system. The kind of stuff that you don’t really have the money for…but that’s okay, just buy it on credit! And why not?! Everyone else does it! Everyone else has that cool stuff!
“There is scarcely anything that drags a person down like debt.” – T. Barnum
Now…don’t get me wrong, those things are nice to have, and they make you feel good. That is until the bill shows up every month and you have to figure out what’s going to get paid first and when! This goes back to distinguishing between your needs and wants and the feeling of instantaneous gratification for having what you want NOW and worrying about paying for it later.
But why even put yourself in a position to have to worry about it later, when with some adjustments and a little sacrifice now, you could avoid any worry at all. Yes! It takes planning and patience, but it will be worth not dealing with the stress of paying back debt and it will make the enjoyment of having those things even more pleasurable.
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