There are many people who believe that having money is power. Therefore, the more money you have, the greater your power. With money, one can buy everything they want – even things they don’t need just to “Keep up with the Joneses”.
Greed is a
natural human desire that when left unmitigated can consume the individual.
Greed can ruin lives and relationships. That is why it is one of the “Seven
also a rich source of income. Ask the credit card companies and the banks. They
feed on your natural human desire to acquire more material wealth so that
whenever greed rears its ugly head, it means more money for them.
buy on credit, you are choosing short-term happiness over long-term peace of
mind. Eventually, the satisfaction of an acquisition will wear off. All you
will have in front of you is a pile of long-overdue bills and countless of
sleepless nights thinking of how to get out debt.
debt will take an emotional toll on anyone. According to a study conducted by
the American Psychological Association, 72% of Americans are stressed out over
debt-related issues. In the same study, 22% of the respondents reported being
“extremely stressed” over debt problems.
cannot be managed, it will create different anxieties. You become paranoid. You
don’t know if the next letter will be a summons, a subpoena, or the sheriff
telling you to vacate your home.
anxiety grows into fear. This is the stage where all hope is lost. The fight is
over. You see yourself sleeping on the sidewalk. Your family will abandon you
to find a better life.
the embarrassment – all of these fears will add up and compound – like the
interest on your unpaid loans.
You have read stories about people who go crazy after being mired in debt. They are in situations where they believe there is no way out. It feels like drowning – they cannot break out and get a breath of fresh air. They are about to lose everything in life.
It does not
end with fear. The fear can enter the next stage – anger. You become angry with
the system. You struggle with the realization that the “trusted” financial
institutions – the banks and credit card companies – had lured you into a trap.
wrath does not start and end with creditors. It grows into a wildfire that
spreads and consumes everything in its path:
- The mailman – for delivering the bills
- Your spouse – for not getting a job or working
- Your kids – for having so many needs.
- Your boss – for not paying you enough money.
- Your family – for not lending you more money or
for asking too much money
- Yourself – for lacking the foresight and allowing
yourself to fall into this deb trap.
refer to this condition as “Debt Anger Syndrome”. It is a condition that makes
the debt-riddled person hate life.
scientific evidence linking debt to death? Yes!
study by the Federal Reserve Bank of Atlanta revealed that there is a positive
correlation between debt and mortality rates. According to the study, the
mortality rate increases by 5% three months after the first billing statement
If you love life and want to have a great future with the
family, avoid getting into debt. It may take more time and effort to get what
you want but the sacrifices are well worth it.