For a lot of people, debt is a cycle.
They’ll spend themselves to the breaking point, watching their credit card balances surge.
Then, once they reach a point where they are having difficulty paying their bills, they cut back and start living frugally for a while until the credit cards are under control.
After that, they splurge, and the cycle continues.
I’ve witnessed this with friends and family. I’ve read stories like this from lots of readers.
The cycle of debt can be a long and painful one. It keeps you in financial shackles for your whole life, because you’re never quite free of those debt payments.
It’s time to break free.
Read more: http://www.thesimpledollar.com/2012/05/02/resist-temptation-to-use-your-credit-card-once-you-pay-it-down-122365/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thesimpledollar+%28The+Simple+Dollar%29&utm_content=Google+Reader#ixzz1ttOAopIJ
They’ll spend themselves to the breaking point, watching their credit card balances surge.
Then, once they reach a point where they are having difficulty paying their bills, they cut back and start living frugally for a while until the credit cards are under control.
After that, they splurge, and the cycle continues.
I’ve witnessed this with friends and family. I’ve read stories like this from lots of readers.
The cycle of debt can be a long and painful one. It keeps you in financial shackles for your whole life, because you’re never quite free of those debt payments.
It’s time to break free.
The best way to do this is to not necessarily focus on minimizing your debt to the absolute smallest dollar as fast as you can. That’s right, don’t do that.
Instead, focus on spending routines and habits that you can sustain over a long period. Focus on cutting out spending that you don’t find personally important, but make sure that it won’t return to your life by finding new life patterns to replace it.
Instead, focus on spending routines and habits that you can sustain over a long period. Focus on cutting out spending that you don’t find personally important, but make sure that it won’t return to your life by finding new life patterns to replace it.
Read more: http://www.thesimpledollar.com/2012/05/02/resist-temptation-to-use-your-credit-card-once-you-pay-it-down-122365/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thesimpledollar+%28The+Simple+Dollar%29&utm_content=Google+Reader#ixzz1ttOAopIJ
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