photo by Paulus Maximus!

There has been an old saying “doing two bad things doesn’t equal a good thing”, in other words, if you would want to get rid of your debt, then pay for it through a positive source. Opening up another debt just to pay for the previous one is NOT the answer. And once you have done that, it’s like digging your own grave. You go deeper and deeper into debt and it is harder for you to get out.

It’s also the same as paying for your credit card bills with another credit card, and this is much more dangerous as the interests escalates and compounds and you’ll be burning your pockets before you know it. This sort of practice is definitely WRONG but some people think that it’s just fine.

As what I have read in an article entitled “Your Brain is Your Own Worst Enemy” from Engineer Your Finances, it shows more examples of debts and marketing systems that are used in trapping us into this kind of thinking.

Now it is really important to know what we need and want, being able to classify the differences could definitely help in minimizing our purchases. Next is to start paying off for the debt, even though it is slowly. The important thing is you could eliminate it little by little and not add to it. Mind setting is very important here and having the discipline and patience to keep it constant is needed.

If the hole that you are in is really deep, the only way to get out is to ask a friend. You could ask a close friend to help you watch your spending and even help you overcome your debt. Being honest with yourself and admitting that debt is a burden would change the way you look at your financial state.

It’s not easy, but starting as soon as possible is a good first step. It’s up to you to constantly continue on dissolving your debt until it’s gone.

So if you’ve got something useful from this information, I do hope you could write your comments and suggestions down and post them here. It could really help others know how debt could be a burden if you use it the wrong way.