A friend, whom I shall refer to as J, told me that he is in deep financial trouble. I was surprised because he holds a high position in a large multi-national company and he once told me that he draws a five figure monthly salary. Now that he is in debt, I wonder if I should believe him!
As far as I know, J has a bad habit; gambling. He knows that it's getting out of control but he couldn't resist the lure of big money. The bigger the payout, the higher the risks! It's better to invest in stocks and bonds!
Actually, as far as I am concerned, it is quite irrelevant how large a paycheck one receives at the end of the month. It all comes down to sound financial management. One could be financially solid even if he is only earning a fraction of what J is earning.
While most of us working adults have one debt or another, whether it is a home or auto loan, or even an advance on our credit card, at the end of the day, it depends on how well we manage our income, expenses and debt.
Some people, like J, don't want to admit that they have a debt problem. If they take a step forward to seek debt management solutions, I believe that they could better manage their debt without feeling like they are spending more than they are earning and worse, don't even know where they money has gone!
Debt consolidation helps a lot in lightening the debt load since a debtor only has to make a single payment every month instead of facing numerous creditors.
As far as I know, J has a bad habit; gambling. He knows that it's getting out of control but he couldn't resist the lure of big money. The bigger the payout, the higher the risks! It's better to invest in stocks and bonds!
Actually, as far as I am concerned, it is quite irrelevant how large a paycheck one receives at the end of the month. It all comes down to sound financial management. One could be financially solid even if he is only earning a fraction of what J is earning.
While most of us working adults have one debt or another, whether it is a home or auto loan, or even an advance on our credit card, at the end of the day, it depends on how well we manage our income, expenses and debt.
Some people, like J, don't want to admit that they have a debt problem. If they take a step forward to seek debt management solutions, I believe that they could better manage their debt without feeling like they are spending more than they are earning and worse, don't even know where they money has gone!
Debt consolidation helps a lot in lightening the debt load since a debtor only has to make a single payment every month instead of facing numerous creditors.
0 comments:
Post a Comment