Your Personal Money Management Can Make All the Difference

Good Personal Money Management Will Give You Financial Freedom

Poor Money Management Will Lead To Misery

Millions of people are supplementing their lifestyles with credit cards.

They spend more each month than they earn. This leads to Distress.

They can temporarily sustain the is deficit spending with their credit cards, but very soon they end up in the Debt Trap.

We hope that you will be able to avoid being caught in the debt trap.

Good personal money management skills will keep you out of it.

Too late?

Are you already caught in the debt trap?

Good personal money management is the way out.

We will show you how…

What Does the Debt Trap Look Like?...
Does This Describe You?

• Juggling payments for credit cards ... if there are more payments to be made than money to go around. People are constantly facing the decision of which bills to pay and which ones to let slide
  
  

• Receiving past due notices ... being trapped in debt sucks up so much money that there is not enough left over to pay other bills
  
  

• Unable to save money ... when one is in debt, saving always takes a backseat to feeding the debt monster
  
  

• Balances on credit cards rarely go down ... when interest in accumulating faster than a person can keep up
  
  

• Often out of money before payday ... there is always too much time left before the next payday ... even though the bills for credit cards and other things need paying now
  
  

• Tension in the family over money matters and overdue bills ... It is almost impossible not to have tension in the family when there are more bills than money because serving debt is swallowing any potential financial cushion.
  
  

How Are People Getting Caught in the Debt Trap?

In addition, person money management also has much to do with your mindset.

The following are personal money management attitudes that contribute to people being caught in the Debt Trap…

• Failing to see credit as a power... Credit is like a loaded gun or a raging fire. To avoid being hurt by either one, you must first respect the fact that you can easily be harmed if not very careful.

  It is this lack on understanding of how harmful the power of credit can become which often dooms people to suffer the consequences of that power turned against them.
  
  

• Give in to advertising's message... Advertisers funnel billions of dollars into trying to get us to do things that appear to be in our best interest but in reality are in their best interest.

  If we fall for the advertiser's message, debt problems are right around the corner for many.
  
  

• Needing to keep up with the Jones... So much of out problem with debt today is not so much, what we need for the utility factor ... but we need the emotional boost to our self-esteem and self-worth.

  When we buy things for emotional reasons rather than utilitarian reasons, the most likely result is falling into the debt trap.
  
  

• The lure of the sale... We have a very low resistance level for a 'good deal'. Marketers know this and use that to lure us to buy things that we believe we got for 'a steal' rather than because they were legitimate needs.

  This is a huge contributor to the debt trap.
  
  

• Impulse buying... The very fact that something is purchased on impulse means that the money was not set aside in advance ... and therefore was funded with credit.

  The more purchases are made on impulse, the greater the grip of the debt trap.

  30% of people go to the mall when things get out of control at home. Since money is one the thing most fought about among couples, they feel bad because of their financial problems, then go and buy more things trying to make themselves feel better, which only makes the financial matters worse.

  This is a costly cycle.
  
  

• Easy availability of credit... Whereas in the past, those with money to lend were very concerned about the ability of the borrower to pay it back, that is no longer the case.

  Lenders are competing for the ability to lend as much money to as many people as possible ... even for very frivolous reasons. As a result, the lenders themselves are contributing to the temptation to fall into the debt trap.
  
  

• Lack of a Spending plan (budget)... Without a spending plan, it is natural to underestimate how much money is being spent and to assume there will be enough to pay back borrowed money.

  When the inevitable 'shortfall surprise' surfaces, the result is more debt and further entrenchment in the debt trap. For help in this area click here.
  
  

• No discipline... Discipline is the very thing that must be in place to drive the decisions necessary to avoid debt.

  Discipline to buy only what can be purchased with money saved, discipline to avoid buying was is not needed when there are no funds available and discipline to say 'no' to having something today because of a greater need in the future.

  Debt and a lack of discipline are inseparable companions.

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© Copyright 2001 and 2007 Dave Briggs