The only way you can get out of debt is to understand why you owe it the first time. You will not be able to save even if your income/salary goes up. You will not be able to save even if your car payments have been paid off. You will not be able to save even if your children have been able to finance their own lives. And even if you have 1 billion in your hands right now, you will not be able to set aside a penny. If you need consolidation debt help, you can click here .
How could this happen? Because you can only save if saving for an emotional habit. You can only save if you treat your money differently. So here are some of the things you can get into debt:
1. You buy items that you do not really need.
Stop buying things according to your heart! If necessary, avoid going to the mall! Because the mall is your personal debt source. There is no reason to pamper yourself with buying branded merchandise that you do not really need.
2. You use a credit card to buy goods that you can not afford to buy in cash.
If you can not buy in cash today, do not buy it! It’s as simple as the formula.
3. You think that a particular product brand signifies a social status
The car takes you from one place to another. The wallet is a place to keep your money and your important papers. Sunglasses protect your eyes from the sun. T-shirts keep you warm. If you always pay very much for these products for social or style status, as opposed to the function itself, you are in trouble.
4. You buy a new car every few years.
See my previous point. The car serves to drive you from one place to another. If you buy a new car every few years even though your old car is still functioning very well, then you are trying hard to impress the people and you, yourself are in the process of going bankrupt.
5. You buy something you can actually borrow or rent.
The point is if you only occasionally use the item, why do not you borrow from your friends or rent it? For example, I almost bought a folding ladder that I might only use a year 1-2 times when I could borrow it from my parents.