With all the consolidation loans I do for clients, one thing that is hard to talk to them about is how to spend less.
You don’t want to offend them by suggesting they live high on the hog, but I see so many clients year after year coming back to re-consolidate(if that is a word…), and living way past their means. With the real estate values dropping globally, one day those homeowners will not have the equity to lump in that debt into their mortgage.
I am in the same boat! So, I found this following article posted over at Consumerist.com very interesting. I thought I would share it with you! There are a bunch of great tips and tools for you to use. Good luck!
Stuck in a $14,300 debt hole, reader Trixare4kids was able to dig herself out using tips she learned about on Consumerist.com. Let’s learn how she attacked her personal finances and learned to live frugally, and did it all in 20 months.Yahoo! Buzz
“She writes: “This morning I made my very last payment on $14,300 in credit card debt and a personal line of credit for a home improvement project that was completed a few years ago. I paid it off over the last 20 months thanks to applying some of the stuff I learned at consumerist.com. It was tough. It took discipline, but I did it!
Instead of making a bunch of changes at once, I did things a little over time. It looked something like this. It’s maybe not in the order that makes the most sense to a financial planner or in the order that someone else would do things; I just know that it worked for me.”
All companies try to get you to do is buy, and spend more of your hard earned money.
It reminds me of the lyrics of one of my favourite songs by the band Tool.
“All you read and
Wear or see and
Hear on TV
Is a product
Begging for your
So…Shut up and
Buy my new record
Send more money
Fuck you, buddy“
Now go out and spend more…Our economy depends on it…