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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: NEW MEMBER CONFESSION Date:  7/12/2005  4:16 PM
Author:  cattleman22 Number:  208109 of 312189

{{I don't really think I asked for opinions on what "doing well" meant. That's very personal and subjective to each individual. I had different goals in the past and I have some new goals now. I was just looking for some support and advice. I got a lot and I thank you all for your advice}}

I reread my previous post and I understand why you got defensive. I did not phrase want I wanted to say very well. Your story about being in debt to over-spending is a common topic on this board. Many posters want to get out of debt, yet they do not want to evaluate the reasons why they were spending more than they earned. That evaluation is hard. It requires a lot of introspection. It is quite common for a person to get into debt, take out equity from a house to pay off the credit cards and then in a few years runt he credit cards back up. This is what I was trying to get at.

To become debt free is more than just paying off your debts now. You need to see the importance of maintaing emergnecy funds, freedom funds, reitrement funds, etc.

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