You can Beat Consumer Debt

First of all, we must first understand by what is meant by ‘consumer debt’.  Consumer debt is any debt that has no interest attached to it.  So, for example, debt that would have interest attached to it would be mortgages, higher purchases, and credit cards.  Consumer debt is debt that is accrued by purchasing consumer goods only, that do not have ‘debt’ attached to them.

Consumer debt now runs into the millions and it is one of the main causes for chronic depression – and even suicides.   Because once a person gets into the habit of spending for spending sake, then the descent into ruination can be steep.  This is especially so if one shops in the more expensive stores.

However, consumer debt too can be easily attached to those who shop in the inexpensive stores. This is because all debt, no matter how big or small the purchase, builds up.  The trick is this, knowing when to stop. The two words that one has to keep in mind here are ‘want’ and ‘need’. 

There  are simply too many people who set out to the stores with one thing in mind, to better their neighbors. If someone has the latest television, or games console, or shoes, clothes, then one can guarantee that others will try to better  it, if not equal it.  It is not about ‘need’. it is about ‘want’.  And in the process, as we want want and want, constantly, consumer debt begins to spiral out of control.  

The trick to manage this constant ‘want’ and ‘greed’ is to only purchase the things that you NEED. Only then will one see consumer debt begin to fall.  By purchasing the things you need, instead of the things you want, consumer debt will be halved then quartered.  By purchasing items and products that you need, that will be useful to you, in some capacity – and that will pay back what you paid for it, two fold because of its usefulness – you will then be taking steps to control your spending habits.

Because for many people around the country, consumer debt is a sickness. People spend to make themselves feel better, in some way.  But the problem with that is that it is a five minute high. Soon depression sets in again, and so the whole spiral begins again, with people setting out to purchase the latest gadget or piece of clothing to make themselves feel ‘better’.

Not that we need that item, but because we want it.  The way to beat this is by doing the following.  Give yourself a certain amount of money to spend and do not go past that limit. Limit your spending to the things you need, rather then the things you want.  When you shop, shop in the less exclusive stores.

Generally, it is within those stores that the same items that you need, can be purchased for far less than in the more exclusive and expensive stores.  By changing your spending habits for the better, you will be saving money too by shopping around, looking for bargains that you need, NOT want.  Move your mind onto the word, ‘need’ and NOT ‘want’.  By changing those two words around, you could be saving yourself a whole lot of trouble in the future.

Never let yourself get into consumer debt through your own selfish needs.  You will only have yourself to blame.   Instead, take an x-amount of money with you and do not go above that limit. This is easier said then done, especially when someone is feeling depressed. However, no matter how tempting it may be, you will be entering a life-changing period in which you are desperately trying to control your spending. It can be done, but it will take a huge shift in attitude to the way someone views how they spend their money. 

Normally, it is when things have hit rock bottom, that a change in attitude occurs. For it is only then when people will tend to take stock of their actions – when things become have desperate. No one wants to purposely go into debt, be it consumer debt or otherwise. But the only way by not going into debt and by controlling spending habits, is to cut out the greed.

Purchase things you ‘need’, not ‘want’, and shop in the less exclusive stores. By following to a strict guideline, you will begin to save money.  You must be ready and you must have the willpower to want to change your spending habits. It can be done, but it will take hard work and perseverance.  Because a person, if they are not in the right frame of mind, will not do it. 

So, make today a new day, a new start.  Why spend money on something that you simply do not need, instead of paying for something that you do?  That is the quickest way of falling into debt.  Use your money wisely, and think before you spend. Because it is only you, the consumer, who is in control of your spending habits, no one else.