|
Author: Leonard Hopkins Article source: http://www.consolidatemybill.com/. Used with author's permission.
You may not realize what that credit card bill is doing to you…
Bob is a 27 year old truck driver. He dropped out of college after one year and got a job. With hard work and good luck, he is making about $35,000 a year. Bob is passionate about remaining debt free. He drove his old car from high school until he could afford to pay cash for a newer one. He rented a cheap apartment until he saved a solid down payment on his house. Even during the lean months, he steadfastly refused to build up a credit card balance he couldn't pay off at the end of the month.
At 27, he's decided he's tired of his job and would like to change directions. By living within his means and staying out of debt, Bob has enough money in the bank to take some time off, get a part time job, and go back to school. He has visions of owning his own business one day soon - and there's nothing to stop him.
Now meet John. John is in his 40's and is in upper management with his company. He's making more than double Bob's salary, but he's had a different outlook on life. John has never been afraid of debt - he figured as long as he could afford to pay the bill he was ok. He has a very nice house, a brand new $40,000 car, lots of new sports and recreation equipment, and travels extensively on his vacations. And he's done it all on credit. John was living this lifestyle before he could afford it. Now, he's almost tapped out - his credit cards are maxed out, his house is double mortgaged, and even though he's making a great income, he has lacks the lifestyle, peace of mind, freedom, and opportunity Bob has.
Externally, anyone who saw the two would think that John is the greater success. But the truth is John is trapped. He may be tired of his job. He may want to do something else. He may wish he could spend more time with his family than at work or have a business venture he'd like to pursue. But he spent his money before he had it, and now he's paying the price.
Most of us think that the key to Financial Freedom is making a lot of money, but we see from our two examples that that's only part of the equation. The other part is lifestyle management and debt avoidance or debt elimination. If we plan wisely, stay out of debt, and control our desires to spend beyond what we can afford, we can enjoy a great amount of financial independence and have money to spend on things we really want to have and do, even on a very modest income.
However, for most of us, this message comes too late. Anyone buried in debt will agree that it would have been better never to get into debt. But that doesn't help much now. What we need now is some help undoing the mess we made.
Stay out of debt. If you're in debt get out. Don't take out another loan, declare bankruptcy, or sign up for credit counseling services, which can damage your credit. Instead, do your homework and educate yourself on the steps you can take to get back on solid financial footing, no matter what your present situation is. ---
Leonard Hopkins is a 30 year old internet entrepreneur. His purpose in business is to help people from all walks of life gain relief from the money trap that many have fallen into.
His websites are http://www.smartmoneyonline.com and http://www.freedomsociety.net
Christmas Gifts to Last a Lifetime
Do you know what you are giving to the children on you Christmas list? Will it be Harry Potter DVDs, the latest computer games, or some new clothes? Do you th...
The Era of Disaster Recovery and Prevention . . . And What It Means to Investors
The recovery from Katrina and Rita ushers in a new era of Disaster Recovery and Prevention.
Condoms- a Safe Way to Birth Control
This article addresses the use of condoms as an alternative birth control method. Did you know there are latex free condoms for those people that have an aller...
Franchisee Relations and Team Work
Franchisees of a particular franchise must get along in order for the team to hyperspace the competition. Recently our company; Franchising.org did a study and ...
How Good a Deal Is Your Banks Mortgage Insurance Plan?
Mortgage Insurance is an add-on and profit center for the bank or the mortgage company. But is it something that our proud new house owner should buy from the m...
How to Avoid Settling for a Job
You've read all those job description want ads on the internet - is there really a person who has ALL those qualifications?
To Survey Or Not To Survey
I have learned over the years that when it comes to online marketing as I know it, it's not about what I want in my business.It's really about what people who v...
Classified Ads That Get Results
Classified ads do not have the big market appeal that a full color display ad has, but they are still one of the most economical ways to get your business into ...
Parenting Your Teenager: 6 Tips for Effective Discipline and Consequences
The older a child becomes, the harder it can be to find appropriate consequences for misbehavior. Discover the 3 R's and the 3 S's of appropriate consequences. ...
Getting Popular Sites To Link To You
How do you get those big and mighty sites to provide a link to someone like you? It is impossible right?
Planning Permission Tips UK - Rights of Light to Adjoining Neighbours Windows - What You Should Know
When extending or redeveloping a property one of the easiest things to get wrong in your Planning Permission scheme is not assessing the implications of your ne...
How To Radically Improve Your Everyday Experience Of Life In Two Simple Steps
Can you do something for me? Tell me… Please don't think tomorrow. What? Yeah, you heard me. You have been thinking everyday, every moment, all the time since ...
Roth IRA Contributions - IRS Rules
Confused about whether you can contribute to a Roth IRA? Try using these simple rules:
Dialing M For Mindfulness
Looking for mindfulness? Who ya gonna call? Your moment of calm and clarity might be as close as the nearest Golden Arches....
Sperm Pills – Do They Really Work?
Have you ever wanted to impress your girl with a huge cumshot? Who doesn't!
Whether it's for impotence, endurance, libido, enlargement… Penis pills seem to prov...
How to Find and Work With a Porch Swing Contractor To Install the Porch Swing of Your Dreams
If you've already purchased a Porch Swing and you know where you want to place it, your next task is finding a Porch Swing contractor to build the support and h...
The 14 October 1973 Uprising – Dying for a Cause
Remembering 14 October 1973, the uprising at the Democracy
Monument, Bangkok that brought down the military dictator,
Thanom Kittikachon and held out hopes fo...
The Creativity Creed
Creativity is profoundly meshed into all we do. It isn't
always touchable because of its vastness nor cannot always
be seen. Yet, it still calls to each of us...
Benefits and Drawbacks of Bankruptcy
Outlined below are some of the benefits and drawbacks of bankruptcy.
No Excuse on Getting in Shape
It's time to get off the couch. Taking time to exercise may be more beneficial than working overtime.
For Success in Life and Business Surround Yourself with These Five People
Where do you go to find the people you need to make your dreams a reality? This article offers 7 suggestions to get you started. You might find the people you n...
First Priority
Get the first draft cranked out!
Beads—A Sign of the Times?
A short history of the use of beads in jewelry and fashion. From love beads to Swarovski crystal.
Organize the Day Before… not the Night Before!
Many entrepreneurs work just like they did when they were employed by someone else. They take what they know and start fresh bringing in new ideas that can impr...
|
Print this page