Far too many people find themselves trapped by debt.  I want to address a number of borrowing and credit issues.  Perhaps the greatest need in families today is understanding the consequences of being trapped by debt with limited income and in a financial position where it seems like it will be impossible to recover. 

 

Any person can find a wealth of information that focuses on borrowing, easy credit and debt issues, but the problem I have found in counseling is failing to get a person(s) to recognize the seriousness of their actions before they make wrong decisions. 

 

All to often, people only want help after their situation has become nearly hopeless.  Just know that borrowing can be very hazardous to your financial health and possibly to your mental health, spiritual health and the health of your relationships. 

 

Much of borrowing done by a person today is for short-term loans.  But for the most part this kind of credit goes to purchase things that generally have no asset value associated with it.  Usually this has more to do with our wants and desires than our actual needs.  Unfortunately, long after the item purchased is consumed, the debt repayment goes on.

 

 

Your thoughts on this subject?  Your comments appreciated!

 

Content © Rich Brott, 2011

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