Friday, July 14, 2006

Debts are not Bills

I usually get an idea for a blog from a comment I make at someone else's... in this case it was my comments here.

Debts are not Bills.... debts are previous expenses that you are paying for now. "People in debt have cash flowed their future right into their past."-- Me.

If people didn't have hundreds of dollars a month in credit card payments they could live their current lifestlye just fine and even be able to save some money.

My definition of a bill versus a debt is clear.... A bill is anything that will never be paid off...Phones, TV Content, Satellite Radio (which I don't have), Electric, Rent, Water, etc.

A debt will be paid off eventually.... Cars, credit cards, bank loans, student loans....

If people would stop saying "I can't pay my bills." and start recognizing debts for the cancer they are then perhaps they'd get on a health kick and start purging those silly things.

4 Comments:

At 7/14/2006 9:04 PM, Anonymous Terri said...

That's a great way to look at it. In fact, saying it that way makes me feel even more guilty over the situation I've gotten myself into. Thanks for helping me change my mindset a little more.

 
At 7/14/2006 10:53 PM, Anonymous Tricia said...

You said it right there, and I love that quote of yours.

Anyone in debt should add up all of their monthly payments and then see how much "extra" money they would have every month for other things like saving!

It is such an eye-opener.

 
At 7/17/2006 6:36 PM, Blogger Tired of being broke said...

Right on the money! No pun intended, well maybe.
I have a few thousand dollars in credit card debt. If this was not the case I would have a different lifestyle. Fortunately for me am able to afford my bills, my debt, and still save 6% for retirement which is matched by my employer. However, what has eluded me so far is an emergency fund.

 
At 7/19/2006 4:34 PM, Anonymous Anonymous said...

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