Click here to read an article on how to go bankrupt:
http://www.freemoneyfinance.com/2008/08/how-to-go-bankr.html
It’s got some really good advice, like spending less than you earn.
If anyone read the credit card debt post from a few days ago, you know that some estimates are putting US personal consumption at 110% of disposable income.
Can that last forever?
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5 Comments
Such a simple, yet usually overlooked concept. You just CAN’T carry credit card debt. Use the card, sure, but pay the balance every month. Good post. Let’s hope the folks that need to see it, somehow find it. Take care.
Guess this kind of solid advice is very much in demand at the moment. It is so easy to get sucked into debt. If we can’t afford it today, how are we going to pay for it tomorrow? The thing is, kids learn what we live. We owe it to them to show them how to work responsibly with money.
At Home With Rika Susan“s last blog post..Sears Carpet Cleaning Service Guys Goes Green With Eco-Friendly Cleaners
Rika Susan’s right, it’s so easy to get sucked into debt. And kids are going to follow in our footsteps, so if we get stuck in the debt spiral it’s more than likely going to happen again 20 years down the line. Good advice though, like it!
LIM
You would think that common sense things like spending less money would be the first thing that people would do when they are rocketing towards bankruptcy. But, this does not seem to hold true with most people. Thanks for the link to the article. i am off to read it.
John
The hardest thing in the world for some people is to take out that plastic and just spend, spend and spend some more without realizing the consequences of their actions.
Use your card if you have the cash to pay it off right on the spot.
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