Dont Dig Your Own Pit

If you want to enjoy your life out of spending, enjoy if you have your own resources and money.

But don't enjoy your life by becoming a debtor to somebody.

Of course in the modern world, there are many ways and means, which force you to become a debtor.

Attractive advertisements in the satellite TV force you to become a debtor.

It tempts you to buy the modern amenities at any cost.

Even though you don't have any money or resources it shows you many resources for obtaining credit to buy that product. But you must think thousand times before becoming a debtor.

In today's world credit is the easily available commodity. Numerous companies are waiting to pull you in their trap. They are competing severely to pull you in their trap.

But you must be careful to entangle in that trap.

In spite of this caution if you are prepared to enjoy, then you won't get any pleasure. But you will lose your peace of mind.

Let us discuss about the common desire of everybody. It is natural that every body wants to have their own house. It is a reasonable desire.

But the desire can be attained if you have enough money on your own to buy the house.

If you are an executive working in a company what will you think?

You will get ready to apply for some loan and buy that house.

As such you have decided and applied for a loan.

The loan has also been sanctioned.

Next you will ask the engineer to construct the house with in the sanction of loan.

But the Engineer on seeing the plan will say "Sir, you are constructing house once in your life,

Why such a low budget house, we can increase slightly your plan sir, it won't cost much only some increase in your normal budget, he will tempt you.

By that time you will also have some Himalayan courage, and think why can't we adjust that 10% increase, we can adjust that 10% increase by obtaining loan from our relatives, and you give consent to the engineer's suggestion.

The Engineer begins to build your house. The house is also going to be completed soon and only some finishing work is there.

You ask your engineer 'when can I take possession of the house', sir?

The engineer will politely tell you, Sir, there is a small problem, the problem is due to the increase in the cost of materials, I fear whether it is possible to complete the House what we have already planned.

But you are in the dream that the house should be constructed at any cost.

What you will do. The next thing before you will be some bank balances available in your savings account and the jewels of your wife or your children.

So your savings, jewels will all go from you and fill the cashbox of another businessmen.

Your house becomes ready finally. On seeing the house raised beautifully you will forget where you got the money.

You will forget about the loan you obtained from your company.

You will forget about the loan you obtained from your relatives.

You will forget about the erosion of your savings and jewels.

All these will come to your remembrance only when the company commences their recovery for the loan you obtained.

All these will come to your remembrance only when your relatives need the money they paid.

All these will come to your remembrance when you don't have enough money in your savings account for your urgent requirement.

You can get easy resources to fill up the shortfall, because you are working in a company. Companies are ready to give you credit on the basis of your salary slip.

You are also ready to get credit from another company to fill up the deficit.

Now you are ready to close the small debt pit, and begin to dig another debt pit, which will be deeper than the first pit.

The same deficit pressure mounts after some time. Again you are prepared to obtain loan with some other company.

Now you dig another debt pit, which is more than the size of first and second debt pit.

Like this you will go on digging pit after pit, closing the earlier pit to overcome your deficit.

Finally at one stage when you see the remaining pit, it will look like a deep pit, which will be very difficult to fill it up from any source.

So the ultimate choice before you will be to dispose off the house to fill up the deep pit.

You have also made up your mind to sell the house.

Then you have also made arrangements to dispose off the house.

One buyer came forward to buy the house. Even though the rate offered by him is not as expected by you, you have to get the money and fill it up the debt pit finally remaining before you.

The house was finally sold off and you got the money. But while working out the amount you have to settle to your debtors, you need some more money.

With the proceeds realized out of selling the house, you have settled most of the debt.

So what happened to your dream of having house?

You have lost all your savings, jewels, and other resources and still have some debts.

Where all of your money has gone?

It is no secret, most part of your debt were for the interest.

The interest made you to close one pit after another and finally it let you with a deep pit.

This is a common plight of most of the families especially in the middle class peoples.

The reason is due to their mental capability to enjoy all modern amenities without knowing their economic capability.

Enjoying the life is absolutely necessary but it should be one's own resources. We can enjoy life but not on obtaining debt.

We have to increase our resources and then think about enjoying the amenities.

Author's bio:
Krishnan C, was formerly working in a State Government Corporation in India.

He is now writing articles mostly on motivational topics. He has written many articles on parenting, children, health practices, etc., His articles are being published in many Internet sites.

Please visit his homepage to view more articles: http://www.tncity.biz/article.html

---

Bad Credit? No Credit? Yeah, Its a Problem.

Many companies use the slogan "Bad Credit? No Credit? No... Read More

Figuring Out the Ever Nebulous Numbers Called Credit Scores

Credit Score FactorsThe information contained on our credit reports affect... Read More

5 Surefire Ways To Eliminate Credit Card Debt

Do you have enormous credit card debt? You are certainly... Read More

Credit Reports Inside and Out

The Credit Report is like your scorecard in the lending... Read More

Important Things to Know About Divorce and Credit

Joint debts remain joint debts.Both spouses signed a legally binding... Read More

Preventing Credit Card Mess

Credit card debts problem is extremely common today. It is... Read More

Credit Score ? for Scoring the Right Loan

Somebody once said, "There is always a way of knowing... Read More

Ethical Finance: Who Benefits From Our Spending?

On one hand consumers are being universally criticised for running... Read More

How Healthy Is Your Credit

There's only one way to discover the "health" of your... Read More

What is Credit Card and Debit Card Blocking?

Have you ever been told you were over your credit... Read More

What To Look For In A Credit Card

When you are deciding what type of credit card to... Read More

Fun with Credit Cards

For those of us who know how to use them... Read More

Credit Scores and Loan Applications

Keep Your Credit History Clean - Remove A Negative Credit... Read More

Bad Credit Credit Cards

Chances are you've gotten your share of offers like this... Read More

Using Credit Cards Wisely

"I think money was stolen from my card" or "I... Read More

How You Can Help Prevent Identity Theft

How can I prevent Identity theft from happening to me?... Read More

Credit Help for Real Estate Financing: Credit Scores

When you buy real estate, lenders run all of the... Read More

Establishing Credit ? What You Need To Know Part 2

In my previous article "Establishing Credit ? What You Need... Read More

The Top 5 Secrets to Managing Your Credit Cards?So They Won?t Manage You

You've probably never heard of Frank X. McNamara, but he... Read More

Useful Tips On Avoiding Credit and Charge Card Fraud

Credit and charge card fraud costs cardholders and issuers hundreds... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

Credit Cards or Store Cards - Which Is Better?

Introduction In this article, a presentation is made of the... Read More

Credit Cards for Home Business

It is wise for you to have a company credit... Read More

What is a Credit Report?

Ever wondered what is a credit report? If you've ever... Read More

The Hazards Of Your First Credit Card

You probably don't need me to tell you credit cards... Read More

Credit Report Disaster Through Mistaken Identity

I've got some very important info I want you to... Read More

Credit Repair Scams

"Erase Bad Debt !""Remove Negative Items From Your Credit Report"You've... Read More

How To Read Your Credit Report

The Fair and Accurate Credit Transactions Act, signed into law... Read More

Get Your Credit Score To Soar In The Twinkling of An Eye

Ever wonder how a creditor decides whether to grant you... Read More

Which Citi Mastercard Is Right For You?

You've decided to apply for a Citi MasterCard, but with... Read More

Balance Transfers Introduction

Credit card balance transfer involves using a credit... Read More

Free Credit Reports Now Available From the FTC

The Federal Trade Commission (FTC) has set up a new... Read More

Credit Card Incentives

Credit card companies want your business. After all, lending money... Read More