Surviving the Credit Crisis – To Buy or not to Buy…Is that really the question?

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Most people borrow money to purchase something they can’t afford to pay for in a lump sum with cash, usually consisting of a home, autos, and college. When used properly, debt can be a very valuable tool in achieving your financial goals and can even make you money over time. But, used incorrectly…it has the power to wreak havoc on our financial life, emotional life, and relationships that can be devastating! So…the big question really is, how do we know the difference between good debt and bad debt, or better yet, the difference between needs and wants?

How many people actually sit down and calculate what they spend each month? I know when I did recently…I was shocked at the amount of money that I was spending on junk items that really have no impact on my life! Most people are shocked…when they examine their overall spending habits for the first time and how little they actually save!

Let’s just say for example…that you recently bought a new home. Now, you have to furnish it, and there is always some kind of upgrade or home improvement that’s needed…even on brand new construction! It’s taken all of your cash to get into the new home and what happens? Out comes the plastic! Let me tell ya…there is nothing more depressing than not being able to go on vacation or do anything fun, because your dream home has just eaten up your entire budget! You may love it, but the new wears off quickly when you can’t afford to do anything, but make house payments….and that…can be very tough on relationships!

But, how do we break our spending habits, change our mindset, and learn to focus on the necessary financial life building skills we need? I’m guilty…I think we’ve all been there…and now I want to help!!!

Join me today, as my guest Lou Rodriquez, Blogger at www.theamateurconsumer.com and Author of “How Credit Card Debt Settlement Affects Your Credit Report and What You Can Do About it.” share our personal stories and struggles with credit, ways to avoid debt, and create a happier life!

It’s a honest, heart-felt conversation and when we’re finished…you’ll feel like you just had coffee with a very good friend!