Taming the Debt monsters.
A
Debt is that which is owed. A person who owes
Debt is called a
Debtor. A person to whom it`s owed is called a creditor. In the 21st Century, with the advances of the I.T industry to support all areas in business and industries, the main advantages in the U.K just like any other leading financially stable country is that just when you have spent your money on everyday necessities and you are strolling in the city centre whilst window shopping, or going out for a meal with family and friends on a Saturday night, we can all so easily turn to the savior (the credit card) or in some instances referred to as the ?destroyer`. The plastic is thrown at us in every direction with special offers never to end and so we can borrow cash from almost anyone and anywhere. And to be honest, it`s not long before one accepts the card and thinks how great it is when we receive one through the post. The infamous card holds no restrictions on what we spend the money on or where we spend the money, be it in England or in another country. The disadvantage is that we know we can`t afford it yet we still put our hands in the pocket and reach for the easily accessible card. We spend, spend and spend until we realize that it is too late. Those special, treasured, long sought for moments of gaining what we want and when we want occur, and then the worst fact is not realized until the following months salary is due which is spent on everyday necessities and yet to cover the cost on our ?new` ?free cash` card spending spree!!. The borrowing has already happened and now its time to pay the money back or in fact its time to pay the price!! We get into this situation due to wanting goods, items or services straightaway without having to save up or wait for our monthly salary hence we just buy now and pay later. The worst factor is to borrow any amount is always chasing us, whether it is in your morning post or whilst taking a shopping trip to your local supermarket literally every store is willing to lend you money. It has become so good for us (in fact bad) that we can go on holiday, buy a new car, and purchase a house without having to spend a single penny from own pocket. So why is it that these really nice people are being so generous to us well let me tell you a little secret. The fact is my friends and dear ones, we are not given money but we pay for the money with money. This is the interest which amounts to hundreds and thousands which we pay back to these ?grateful` helpers and caring people/businesses. I sympathize with all people out their who constantly try to avoid all the gimmicks of borrowing and successfully walk straight past those wide smiling friendly, professional staff who are standing on promotional stands in city centers however the temptation and driving force is continued by these people soon as you enter your living room. You come back home from a hard days work, worry about how you can save for a holiday or how much you need for that car you have desired for the last 10 years and as soon as you pick up the paper or switch the TV. on, ?bang!` its back in your face again with some great deal or another. This time your only comfort apart from your sofa and cup of tea will be thinking how much money you can get for ?free` without having to do nothing.
