Debt diet to catch golden parachutes

I know that sugar and high interest loans are silent killers. Mounting household’s debt has become a popular brand bug spray.  Equally banks and credit card players are engaged in high sales pitch for loans in eliminating the negative feelings about indebtedness. The glare and gloss in the moral of borrowings is more tempting you to spend beyond your means. I also experienced that debts and lies are generally mixed together.  If so who bites the bullet finally?

 It is very interesting to read the following words of Earl Wilson-
“Today, there are three kinds of people:  the haves, the have-not, and the have-not-paid-for-what-they-have. 

I am not a philosopher if I tell you that it is your over-indulgence that put you to standing at the financial precipice. I am not going into engage an argument on are debtor’s rational actors or situational characters?   However you try hard it is certain that with your emotional patch  the snowball effect of a financial hole cannot be sealed off.

I do believe that on many practical situation in life philosophy and sayings in finance works. . This golden parachute I definitely inherited from my parents.  Today I am very proud of it. I understand the strength and the inherent power of those philosophies of not to engage in over indulgence. This is a golden chariot that one should try to catch up in one’s life.

I know that too many Oniomania desires chase you all the time and you have too little self- control to stop those desires. I am neither philosophical here nor too practical to argue that it is very difficult to catch the most idealistic point of not borrowing  for consumption in one’s life.

Result is more credit cards decorate your purse. Your email and post boxes are filled with reminders from your creditors. I cannot buy any one’s argument that every one borrows and that is constant in this ever-changing world of over indulgence. Here you also have to think that equally there are ‘n’ numbers of people don’t borrow or engage in over indulgence. But still they carry on life and discharge all responsibilities and duties beholding their heads proud on their shoulders.

Just like good foods and bad foods, debt too can be either good (home loan, education loan) or bad (credit card or personal loans). If the cause is the same, then maybe the cure is the same?

Therefore go on debt diet. For this you need not have to attend any brain storming sessions. You know really where your shoe pinches. You too know that good debt involves lower interest rates,plus you get a tax benefits. Bad debts on the other hand are expensive and more easily available, tempting you to spend beyond your means. Therefore try to de-tox those debts.

Many of my friends and family members argue that financial dieting is a bigger challenge — all the rules in the world melt in front of a brownie with chocolate sauce. What I am trying  to argue is try to detox your debts before it develops into as family debt cancer. Can you and You can!

(Quotations and, Sayings about Debt that attracted my attention is given below.-
There are plenty of ways to get ahead.  The first is so basic I’m almost embarrassed to say it:  spend less than you earn.  ~Paul Clitheroe
Another way to solve the traffic problems of this country is to pass a law that only paid-for cars be allowed to use the highways.  ~Will Rogers
The only man who sticks closer to you in adversity than a friend is a creditor.  ~Author Unknown
Before borrowing money from a friend, decide which you need most.  ~American Proverb
Creditors have better memories than debtors.  ~Benjamin Franklin
Promises make debt, and debt makes promises.  ~Dutch Proverb
Debt is the worst poverty.  ~Thomas Fuller, Gnomologia, 1732
Debt is like any other trap, easy enough to get into, but hard enough to get out of.
Henry Wheeler Shaw-)

Advertisements