You can do one or the other.

I’m so in debt. It is so hard for me to get out of debt. My husband is not on board with it. It is not possible for me to get out of debt. I have spent too long living on nothing so I am going to start living now even though I have to get it with debt. I deserve it. Our situation is really unique, and that is why we are in debt. We are going to get out of debt soon. I can’t get out of debt without borrowing money. I need money to make money, that is why I have debt. Debt isn’t so bad. If I can use someone else’s money, why wouldn’t I do that? If I can borrow the money at zero interest, it is like having free money.

Excuses. Lousy excuses. Here’s the deal. You can either whine about debt or spend money, but you can’t do both! For those of you taking “advantage” of such “deals”, I ask you Dr. Phil’s question: “How’s that working for you?” You are carrying debt. You are sending a lot of your paycheck out to pay creditors. If you were laid off tomorrow, how long could you make the payments? Are you happy with the answer?

When you have debt, it comes bundled with stress! When you stop using “deals” to your “advantage” and realize that the “deal” is that you are being taken “advantage” of, that is the moment of truth in which you truly realize that debt is dumb.

1 Comment

  1. Jamie on March 15, 2006 at 8:48 am

    Joe, I love your blog. It is a must read every day for me to keep me focused that managing money is important. I am in awe of your wisdom, and thank you continually for sharing it. Thanks man.

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