Doctor Debt

Feeling Good About Money 0

Feeling Good About Money

{“You have got to feel good about money to attract more to you. Understandably, when people do not have enough money they do not feel good about money, because they don’t have enough. But those negative feelings about money are stopping more money coming to you! You have to stop the cycle, and you stop it by starting to feel good about money, and being grateful for what you have. Start to say and feel, “I have more than enough.” “There is an abundance of money and it’s on it’s way to me.” “I am a money magnet.” “I love money and money loves me.” “I am receiving more money every day.” “Thank you. Thank you. Thank you.”}

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No payment – No interest! No impulse!?!

Isn’t it wonderful? There is absolutely no reason to wait for something you can’t afford now. And the deal is much better than buying it on regular credit that has to be paid starting next month. Ah! what a wonderful consumer-driven world we live in.

It’s also dangerous. In fact, it’s a trap – a credit trap. The objective is to have you commit future income towards the purchase of something you just can’t (don’t want to) wait for. We are such an impatient society aren’t we? Wait! It gets better – you are further tempted (expected) to spend more than you normally would on the item(s) AND the gamble is that you won’t pay it off completely by the time it comes due.

Keeping up with the Joneses has never been easier! 1

Keeping up with the Joneses has never been easier!

I’ve been struggling holding off buying my kids a DS. My daughter is 7 and my son is 5. All their friends have one. I have a momentary flask back, “But Mum, I plead, all my friends have jeans”. (I was in Grade 6 and still wearing polyester pants). That was 1978. Oh how far we’ve come. Hmmm. Really. Today’s pleas would be “But Mum, all my friends have a DS, computer, ipod, cell phone, (fill in the blank).”

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Do I have to pay to file Bankruptcy?

I know…it seems wrong doesn’t it? You are in a state of having to consider filing for bankruptcy and you find out that you have to pay. Often I get asked, “How can someone pay you if they are bankrupt?”. More often than not, the amount you are required to pay into your bankruptcy, is a manageable payment considering what you are required to pay to maintain your current debt (let alone pay it off). This simple Bankruptcy Payment Calculator will help you estimate what that payment might be.

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I love you credit! Or do I?

Wonderful, accessible, way-too-easy-to-get, way-too-had-to-pay-off, credit.
It makes the world go around and sometimes makes our head spin. It can be our best friend or our worst enemy. Using it gives you a temporary high. Owing it gives you a log-lasting headache.
Where am I going with this you ask? I shall tell you.

One event away from Bankruptcy! 0

One event away from Bankruptcy!

We are all one or two events away from bankruptcy – meaning all it takes is one or two major events to turn our financial world upside down. The reason is simple. We live too close to, or above, our means. As a result our credit is maxed out, our savings minimal, or worse, non-existent, and we have absolutely no breathing room.

One credit card with a dash of control please! 0

One credit card with a dash of control please!

Seriously, why do you have more than one credit card? The likely answer is (although I’m sure many won’t admit it) “so I can spend more money than I earn”. The intentions might be good (buy necessities, pay for the kids sports, buy gifts) but the results are the same (if you consistently spend more than you earn, you will eventually hit a financial brick wall, and your finances will crash). This might mean something as drastic as losing a home or something less severe like paying for a decade or more for living above your means for a few years.

Welcome to the Dr. Debt Blog 5

Welcome to the Dr. Debt Blog

What amazes me is the way our relationship with credit has changed. It used to be that we used credit sparingly for things like a mortgage or car loan. Households maybe had one credit card; two was pushing it.