Debt is out of control

Debt is out of control but as MP Dunleavey there is a root cause. I agree with what she is saying. I also like to make the analogy of someone who has over the years become very over weight. Once you have gained the weight you need to keep eating the way you are and do little to no exercise to keep the weight on.

The hardest part of loosing weight is changing your eating habits and getting into a work out routine. It take discipline and motivation to start to make the change and finally reach your weight loss goals. I believe this is the exact reason why we get into debt and why it’s so hard for us to get out.

The good news is with discipline and motivation debt can be crushed. It will take time and serious root causes will have to be addressed. Check out MP Dunleavy’s take on debt:

Even though people pay lip service to the gospel that debt is bad, millions of Americans are still borrowing beyond their means, spending like the bills will never come — and saving less and less of their personal disposable income.

I’ve attributed this debt dependency to living in a ridiculous
consumer culture, to humankind’s innate greed, to a Darwinian need to
keep up with Mr. and Ms. Crate&Barrel, to elevated blood levels of
financial denial.

It only occurred to me recently that maybe, deep down, people not only like living on borrowed money, they’ve grown so accustomed to its seductive presence that they can’t imagine a life without owing.

Don’t get too comfy with your debt – MSN Money

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