Great articles about managing debt

I think at some point in everyones life they get in to debt. By this I mean the natural debts like owing car or mortgage payments of course. Unfortunately, a large percentage of people also fall into debt that they likely could have avoided. I know that I certainly did!

When I was younger I had my own business and while I was struggling to establish the business I lived on my credit cards because I simply had no cash to pay for things. I suppose in some ways that debt was more understandable than if I’d had a good income but didn’t control my credit card and cash spending because I was buying items I really didn’t need.

I know it’s easy to get carried away with spending. The way items are marketed these days with “buy now, pay later” slogans it’s easy to think “yeah, I could get that nice TV that I really want, I’ll be able to pay for it in 6 months before they start charging me interest.” However, other expenses often come up and you end up paying the high interest anyway. If you’ve done that with a lot of things, the next thing you know you’re in over your head and in debt.

If you’ve had trouble managing your money or paying off debts you might be interested in visiting Careonecredit.com as they have some fantastic articles on managing debt. Articles about Bankruptcy being the last resort, and and another about whether bankruptcy is really a good idea, another about either paying of debt or investing in savings, and yet another great article about whether debt relief is a myth or a reality. The articles are well written and very informative.

You can even learn more about credit counseling if you’ve let your credit cards and borrowing get you into financial trouble.

Considering that there’s so much good information on the site if you aren’t already in debt I’d still recommend that you visit the site and do some reading as you might learn some things about how to keep yourself out of debt too!

This is another site that I’d recommend bookmarking. As I said, at some point we all get into some kind of debt – good or bad, and the more we know about managing our finances and debts the better.