The Country is Swamped in Debt
December 23, 2008 5:37 pm Just Random!It’s sad really, but way too many people are in way too much debt. Companies are in too much debt, the country is in too much debt…everything is in too much debt it seems!
So if you’re sitting there thinking about debt all the time, it’s time to figure out a way to get out of it. In the last couple of years my wife and I have really been attacking our debt, and one of the main ways we did it was to just cut back in certain areas and pump more money towards paying off that debt. It takes discipline, but it’s so worth it.
Seriously, think about what your life would be like without all that debt. I think about it every now and then and it’s great to think that as soon as I pay off my car I’ll have another $300 or so a month that I can use for other things! I’ll be able to have less stress at work because I won’t have so much I have to pay, etc.
Thankfully there are a lot of companies out there that can help you to get out of debt and to Avoid Bankruptcy. In my mind that should be the last option, so always explore what your other options are before going for that one.
Help to Get Out of Debt
Good Advice for Debt
Getting a Handle on Your Debt
Is Debt Getting Out of Control?
Getting Your Credit Started
tags: finances
I’m in the same boat as you. My wife and I dream of the day we’re out of debt. We started a business together when we were first married and just finally got the business loans paid off (10 years later), now we’re on the personal debt. Each one is like a mini little success! Make sure you cash in those stock losses for some free tax savings and pay something off with it!
Merry Christmas,
Bill
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Recession is going everywhere at the present and everybody wants to get rid of this. I agree that everything is in debt and it does seem. Let’s hope to get rid of this time as soon as possible.
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Bringing in more new money is hard right now. I wish everyone in the country had your attitude though as we’d all be much much better off.
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Just a year ago I’ve entered into the dept, only 29 years left
I really hope to get some extra money to pay off the dept faster.
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I went to look at what was on offer in the way of sales today and found nothing. Debenhams biggest ever sale was a joke, the stuff in the sales was all tat, if thats what they have in there store rooms to clear they can keep it
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Saving an additional $300 a month would be a wonderful goal for 2009. If we could double that amount each year, we could retire very quickly.
Best of luck in 2009
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I couldn’t agree more. The country has been way to involved with debt. Debt makes the world go round, or so they say. I’ve begun working on eliminating all of my debt and hope to be as debt free as possible for the remainder of my life.
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I dream life is heaven without debt but now a days the whole world is in aweful condition and trying to root out this inevitable guest.
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I don’t know, bankruptcy seems to have worked for Donald Trump. He declares bankrupcy on his casinos all the time, and he’s a symbol of wealth in America.
But that is to be expected, America seems to be the only country where profits are private, and losses are public.
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In the end, the best investment made will not be stocks or property but a shotgun and plenty of ammo.
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Bringing in more new money is hard right now. I wish everyone in the country had your attitude though as we’d all be much much better off.
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The problem with this world is that people spend money they don’t have to impress people they don’t like.
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I’ve begun working on eliminating all of my debt and hope to be as debt free as possible for the remainder of my life.
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yeah,This recession is bad and still it will down economy,
have to do much effective plan to overcome of it
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Agreed the country is in way to much debt. And job on paying that off. I think one of the principle money lessons most people don;t know if that when you make a lot of money you want to pay off your bills not go out and buy a new car or nice pair of shoes. Pay off the debt and bills, then you’ll be more free to use money as you please as more of it comes in.
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Nicolas Reply:
February 24th, 2009 at 10:36 am
It is becoming harder and harder for many industries to collect their debt in these times. If you need help with debt collections feel free to turn to WNRS.
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The amount of debt is just ridiculous, I really hope it doesnt affect economy that bad. Well I know it will hurt the luxury sales, but I still hope it wont be as bad as some people believe.
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Same problem in France
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Are there any debt relief agencies that help with secured debt. Such as car loans and student loans?
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Totally agree.
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In the end, the best investment made will not be stocks or property but a shotgun and plenty of ammo.
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the first thing you need to do is get out of debt then invest in stocks right now they are very reasonably priced and will almost undoubtedly go up in the near future.
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@credit repair firms: stocks of companies that deal with commodities are especially a good buy now
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I agree that everything is in debt and it does seem. Let’s hope to get rid of this time as soon as possible.
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I agree, this country is in bad debt, and yes it is all down to self discapline. Most people who have a house will no doubt have debt, but it is usually not thier only debt.
Understandably, prices of everything has gone up, and now house prices have shot up, the average wage is not enough to pay for it. So what do we do? Well i have stopped myself from buying so many Oakley Sunglasses, so shopping. I have always been taught to ask myself do i NEED it? or WANT it? This has helped me save a lot of money. This helped me buy my own place a few months ago. I think there is a lot of stuff we can all cut down on, simple things like stop running the tap whilst brushing your teeth etc.
What will you do to save?
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Helo,
This is a good time for people with many many money. IThere are a very good investiments now.
Stocks is shape building is shape etc.
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I understand the word not too much. Thanks for informative article.
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The unfortunate thing about debt in this country is that a lot of it could have been avoided if leading institutions hadn’t gotten greedy.
If you are old enough to remember back twenty or thirty years ago, it was quite difficult to get a credit card, auto loan, home mortgage, etc.
Lending institutions loosened their lending practices, this is very apparent whe you look at the sub prime mortgage disaster.
Most people don’t think about the consequences of their actions until it is too late, hence they got in over their heads.
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It’s so easy to get into debt and so very difficult to get out of it. It’s like gaining weight. And too many people have been living too large for far too long. They don’t want things to change, but they have to. I’m just glad that I’m not one of those people.
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