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Dont Let The Good Times Bury You

It is vital to get rid of debt while things aregoing well. Yet the opposite is usually thecase. Human nature is such that when wefind ourselves living in good times, we letdown our defenses. With our lives goinggreat we seem to make the worstdecisions. It's not hard to understand whythis happens. We believe things will alwaysbe better in the future, "When I'm donewith school, When I get a better payingjob, I'm sure I will get that promotion."

With this attitude, that extra lumpsum of money, or the raise at work, isused as a springboard to increase yourpersonal debt. After all you can now affordbetter this, bigger that. You assume inyour linear view of life that tomorrow willtake care of everything. You don't becomeconcerned with your debt load, until youno longer can make the payments.

When you begin to feel the squeeze ofdebt, you want some quick fix to get youout of trouble. Unfortunately there are noquick fixes for debt that will leave you (oryour credit report) unscarred.

But why should it be any different fromother areas of your life? If you know afood will give you heartburn you take apill and, "presto," you may eat any thingyou like. If you can't find time to exercise,just take a pill and watch those poundsmelt away.

The economy is built on the same "I wantit now," principle. If you want an item,you just whip out the plastic. You need itnow. You will figure out later how to payfor it. When your plastic can take no more,you want out of debt in an easy way. Youbegin looking for the magic pill.Unfortunately the drugstore closed a longtime ago.

A woman, who I know casually, had noproblem taking on more debt because shesaw herself able to handle the extrapayments. She reasoned, if everythingremained the same she could handle thedrain on her income. So she bought someexpensive gift items on her cards andbega