Do you want to learn the real way to get out of debt? I know some of you think that holding on to debt is ok, as long as the payment is manageable. Everyday people in this society take out loans to fund an expensive purchase, while rewarding the lender with payments including an interest rate. The difference people must realize is that buying on future credit is really hurting how financially sound you will be now in the present, in addition to the future.
Who really benefits when you take out a loan? Yes you get a car you couldn’t afford, and maybe you finally can get that expensive computer so that you can blog from home. If you did not plan and save for major purchases, then you just lost out and the lender wins. They even win if you get a 0% percent financing deal. The cash flow drain by getting a loan hurts your chances to save for a secure financial foundation. Thus you become dependent on your job to maintain a pay as you go life, which can really mean living paycheck to paycheck for those people excessively indebted.