If you want to hurt your personal finances, these 6 options should be easy enough to adopt into any spending plan. They set your cares into the wind and worries in the trash. You will have the lifestyle you always wanted. A lifestyle of debt will always keep your home filled with stuff and your eye on the next prize. If you want to live that way that is.
The sarcasm brings a different light to those who choose to live out of their price range and yet complain about their debt. The credit card and cash advance companies do feed off their customer's debt, but some people make that choice to do so. It is sad when a wage earner loses their job or falls ill and bills pile up. Those types of emergencies are impossible to dodge. Depending on how well finances are prepared to handle emergencies ahead of time may make situations like this a bit more tolerable. These folks were not looking to destroy their credit, it just happened.
On the other hand, credit card debt filled with vacation memories, upgraded electronics, dinners out followed by a movie are not so sad. If you want to destroy your credit, you can quite easily. Ignore the numbers and see how high it climbs.
1. Live a lavish lifestyle - Maybe you pay way too much for your rent or mortgage. Perhaps leasing that fancy car was not the best plan. It feels good to have new things to wear each week, but is it practical? Your living expenses are supposed to fit under the umbrella of your income. This includes basic living needs and all the bills to support it. Do your monthly expenses fit under this umbrella or do you live on credit cards to make it happen?
2. Ignore your debt - Not sure how much you owe on all your credit cards? How many cash advance online loans have you used in the last year? Did you push your student loans into forbearance for another year? You can live to ignore your debt, but eventually it is going to show its face to you. It won't be pretty. Credit limits will be gone. Interest rates will soar. Student loans will grow bigger each day with added interest. How long can you not pay off your cash advance before it eats up every paycheck? Pretty soon, even a direct lender would not service your need for cash. Then what?
3. Home Equity Spent - You took a loan out against your home. Your child had a marvelous wedding or to pay for college. The added bill payment each month has become a struggle with everything else under your income umbrella. You know that your house is at risk if you don't pay this bill, right?
4. Borrow from Retirement - The money came in handy. Hopefully it was used for something necessary like property taxes or to pay bills between jobs. Early withdrawals could hit you with increased tax liabilities. How are you going to pay for that?
5. Student Loans - Can you afford to take out a PLUS loan for your child's education? Will you still be able to put funds into your retirement account? You are responsible for this payment now. No one wants to see their child drowning in debt, but you don't have to kill your finances either. Let them take out the loans and then help them with the payments without hurting your own finances... unless of course you do want your money problems to compound.
6. Delay Delay Delay - This plan of action works best as a soccer defenseman; with your finances, not so much. Haven't started a savings account yet? Never even thought about retirement? The more time it takes to begin, the less time your money will have to work for you in your favor.
Spotya! does not advocate using a payday loan for just any type of spending. Our loans are meant to be short-term being paid off with the borrower's next paycheck. Visit http://www.spotya.com for more information on payday loans.
Article Source: http://EzineArticles.com/?expert=Holly_Petherbridge
Article Source: http://EzineArticles.com/8394804
The sarcasm brings a different light to those who choose to live out of their price range and yet complain about their debt. The credit card and cash advance companies do feed off their customer's debt, but some people make that choice to do so. It is sad when a wage earner loses their job or falls ill and bills pile up. Those types of emergencies are impossible to dodge. Depending on how well finances are prepared to handle emergencies ahead of time may make situations like this a bit more tolerable. These folks were not looking to destroy their credit, it just happened.
On the other hand, credit card debt filled with vacation memories, upgraded electronics, dinners out followed by a movie are not so sad. If you want to destroy your credit, you can quite easily. Ignore the numbers and see how high it climbs.
1. Live a lavish lifestyle - Maybe you pay way too much for your rent or mortgage. Perhaps leasing that fancy car was not the best plan. It feels good to have new things to wear each week, but is it practical? Your living expenses are supposed to fit under the umbrella of your income. This includes basic living needs and all the bills to support it. Do your monthly expenses fit under this umbrella or do you live on credit cards to make it happen?
2. Ignore your debt - Not sure how much you owe on all your credit cards? How many cash advance online loans have you used in the last year? Did you push your student loans into forbearance for another year? You can live to ignore your debt, but eventually it is going to show its face to you. It won't be pretty. Credit limits will be gone. Interest rates will soar. Student loans will grow bigger each day with added interest. How long can you not pay off your cash advance before it eats up every paycheck? Pretty soon, even a direct lender would not service your need for cash. Then what?
3. Home Equity Spent - You took a loan out against your home. Your child had a marvelous wedding or to pay for college. The added bill payment each month has become a struggle with everything else under your income umbrella. You know that your house is at risk if you don't pay this bill, right?
4. Borrow from Retirement - The money came in handy. Hopefully it was used for something necessary like property taxes or to pay bills between jobs. Early withdrawals could hit you with increased tax liabilities. How are you going to pay for that?
5. Student Loans - Can you afford to take out a PLUS loan for your child's education? Will you still be able to put funds into your retirement account? You are responsible for this payment now. No one wants to see their child drowning in debt, but you don't have to kill your finances either. Let them take out the loans and then help them with the payments without hurting your own finances... unless of course you do want your money problems to compound.
6. Delay Delay Delay - This plan of action works best as a soccer defenseman; with your finances, not so much. Haven't started a savings account yet? Never even thought about retirement? The more time it takes to begin, the less time your money will have to work for you in your favor.
Spotya! does not advocate using a payday loan for just any type of spending. Our loans are meant to be short-term being paid off with the borrower's next paycheck. Visit http://www.spotya.com for more information on payday loans.
Article Source: http://EzineArticles.com/?expert=Holly_Petherbridge
Article Source: http://EzineArticles.com/8394804
No comments:
Post a Comment