Getting Out of Debt

Debt is the single largest self induced headache one can have. We do it to ourselves and we don’t realize the consequences we will pay. When we justify spending money that we don’t currently have, it is like taking a shovel and digging a deep debt hole for ourselves.

Credit card debt is like a cancer. At first you don’t even notice how far down the hole you are going. It starts of small and over time it creeps up on you and before you know it you are thousands of dollars in debt. There are a myriad of excuses that we use to tell ourselves that just this one time, it won’t hurt or I’ll have money next week, the week after that or next month or the next raise. Many of these projections into the future never come true.

The truth is, there are times that using our line of credit is necessary but the problem is, those times aren’t clearly understood by a lot of people. If you don’t understand the difference between needs and desires, you may throw caution to the wind and start digging your debt hole bigger. True emergencies can arise where using our line of credit is our only choice. If that is the case, then the need should truly be necessary for our physical survival and not our mental health survival.

It has often been said that all people are one illness away from bankruptcy. Medical emergencies constitute many of life’s unplanned expenditures. Make sure you have insurance to prevent this from destroying your financial stability.


About Sherry Tingley

Sherry Tingley, a graduate of Brigham Young University, mother of two and an entrepreneur developed in 2007. Her site offers customers an easy way to choose checks from multiple merchant websites, giving them access to over 19,000 checking account products. She developed a personal finance blog to help others succeed in managing their personal finances and to help people take the steps necessary to start their own businesses.