Avoiding the Debt Mentality
May 23, 2008 by Admin · Leave a Comment
Avoiding the Debt Mentality developing blood clots while on coumadin
Sometimes when one really wants something, he or she will pay for it even when he or she doesn’t have enough money. Debt can be defined as borrowing from one’s future income to pay for one’s current needs or wants. Obviously this person doesn’t have the money right now, so he or she turns to his or her favorite medium of taking out a loan. To keep things simple and for the purposes of this discussion, let’s call this person Pep.
Then what happens? Normally a person with this attitude would tend to repeat this cycle over and over again. Whether it is a want or a need, it seems that Pep would always turn to debt as a solution to getting what he needs or wants. Because of this repetitious cycle of wanting something Pep can’t afford, the whole scenario turns into a snowball effect that keeps getting bigger and bigger and bigger. Then our hero Pep falls into the debt trap. Now that situation is something that can be quite tricky to get out of.
