Quote:
Originally Posted by MetroMPG
One of the problems with debt that I witness over & over is how people seem to get demoralized by it once they're into it a certain amount, after which they seem to have little resistance to adding more and more.
"What's another $1k on the line of credit... a drop in the bucket. It hardly makes a difference."
Corollary: getting out of debt (from the average level) seems insurmountable without going to extremes. (Or what the average person would consider extreme, eg. "WHAT! CANCEL MY SATELLITE/CABLE TV?!?")
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Very good point. Little do they realize that getting out of debt is just about as easy as getting into it. Generally debt is accumulated a little at a time, and the way to get out of debt is to pay it off a little at a time.
When people owe money, I understand that they might not be able to pay it back immediately, but there is no excuse for failing to pay SOMETHING back on a regular basis.