Thursday, 26 November 2015

Managing Credit Card Spending - and Getting Out of Debt

Susan and Richard Rameriz learned the lesson of today's post. Credit card debt! In fact - any debt. Let's be honest, nobody wants to get into debt - and if we're going to live healthily and successfully, we need to do everything to live within our means. The video below is great for us all to see. It tells a story of a couple living comfortably with everything working out - as long as everything was working out. A "simple" thing like losing a job which provides one's most regular income can spell disaster. If one doesn't have a regular income coming through that one knows about, choosing what one buys and the lifestyle one has, must be done with great care and concern.

Today's banks and other financial services offer all sorts of "candy" to help one make the decision of taking the extra money from them, all in the hope of living life as we want to - with all it's frills. Let us never forget however - that this is *their* business. They are there to make money from us. They are not there to give us money. They give money so that they can get much more back in return. Rest assured, the sweet smile from the pretty lady or good looking gentleman sitting behind the well polished expensive table can quickly change to one of great anger when the bank realise you're not going to be able to make the payments due!

Are you serious about generating wealth - or are you serious about generating candies? Necessities - are always necessities. We can never do without the things we need. We must do everything we can to be able to afford those necessities. When, however, we realise that some things can be done without - especially when we are struggling financially, it is then that we must say "no" to any cash offers coming our way - all in the name of "help."

The video is great and it says a lot. The only thing which is difficult to follow - is how the couple actually managed to earn the income necessary to get out of their debt. Let's not forget - staying out of debt is probably an important rule in life. Living within our means is also crucial. Not going ahead with purchases we know we cannot afford (and are by no means necessities in life,) is vital. Still, we have to work out ways of generating income - and that is by far the most important rule when it comes to making a financial success of one's life. I look forward to finding further videos and other ideas which can help us all to find new ways of increasing income.

Meanwhile... whatever happens - keep in mind that the income being earned today, may very well not be the same amount one earns in the months ahead. More is always better - but if it's less, are we going to be able to prepare ourselves for our daily lifestyle then?

Enjoy the video! There really is a lot to learn. Feel free to share positive comments on the post - perhaps even a story of your own - for other readers to benefit from.

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