Comments on: 8 Tips to Help Stay Away From Debt http://www.christiancommoncents.com/2010/05/15/8-tips-to-help-stay-away-from-debt/ Your Biblical Guide to Personal Finance Fri, 06 Jan 2012 12:52:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: 55 Money-Saving Ideas and Finance Articles - Finance Blog Carnival #7 | MaximizingMoney.comhttp://www.christiancommoncents.com/2010/05/15/8-tips-to-help-stay-away-from-debt/#comment-423 55 Money-Saving Ideas and Finance Articles - Finance Blog Carnival #7 | MaximizingMoney.com Wed, 19 May 2010 22:33:01 +0000 http://www.christiancommoncents.com/?p=411#comment-423 [...] 19. 8 Tips to Help Stay Away From Debt [...] [...] 19. 8 Tips to Help Stay Away From Debt [...]

]]> By: Stevehttp://www.christiancommoncents.com/2010/05/15/8-tips-to-help-stay-away-from-debt/#comment-422 Steve Sun, 16 May 2010 02:54:14 +0000 http://www.christiancommoncents.com/?p=411#comment-422 Thanks for posting! Your blog is Very Informative!! Common Cents http://www.commoncts.blogspot.com ps. Link Exchange? Thanks for posting! Your blog is Very Informative!!

Common Cents
http://www.commoncts.blogspot.com

ps. Link Exchange?

]]> By: Tweets that mention 8 Tips to Help Stay Away From Debt -- Topsy.comhttp://www.christiancommoncents.com/2010/05/15/8-tips-to-help-stay-away-from-debt/#comment-421 Tweets that mention 8 Tips to Help Stay Away From Debt -- Topsy.com Sat, 15 May 2010 23:45:20 +0000 http://www.christiancommoncents.com/?p=411#comment-421 [...] This post was mentioned on Twitter by Elle. Elle said: Good reminders RT @clarky07 8 Tips to Help Stay Away From Debt http://bit.ly/cmP5Pn [...] [...] This post was mentioned on Twitter by Elle. Elle said: Good reminders RT @clarky07 8 Tips to Help Stay Away From Debt http://bit.ly/cmP5Pn [...]

]]> By: RetirementInvestingTodayhttp://www.christiancommoncents.com/2010/05/15/8-tips-to-help-stay-away-from-debt/#comment-420 RetirementInvestingToday Sat, 15 May 2010 21:04:35 +0000 http://www.christiancommoncents.com/?p=411#comment-420 "Getting into debt is much easier than coming out of it." Too true. When you think about it though it's quite logical. For example, when getting into debt you spend £/$1 more than your current standard of living allows. This also means that you have increased your standard of living by £/$1. This is now your accepted plateau. To stay at the same level of debt (excluding interest which of course makes it worse than this simple example) you have to remove £/$1 from your spend which would see your standard of living suffer and go back to the pre borrowing standard. To get out of debt, in addition to those staying at the same level of debt, you have to then pay back that £/$1 borrowed in the first instance. This means you are £/$2 behind your peak standard of living meaning your standard of living is worse then when you first borrowed. That is impossible to stomach for most. “Getting into debt is much easier than coming out of it.” Too true. When you think about it though it’s quite logical. For example, when getting into debt you spend £/$1 more than your current standard of living allows. This also means that you have increased your standard of living by £/$1. This is now your accepted plateau.

To stay at the same level of debt (excluding interest which of course makes it worse than this simple example) you have to remove £/$1 from your spend which would see your standard of living suffer and go back to the pre borrowing standard.

To get out of debt, in addition to those staying at the same level of debt, you have to then pay back that £/$1 borrowed in the first instance. This means you are £/$2 behind your peak standard of living meaning your standard of living is worse then when you first borrowed.

That is impossible to stomach for most.

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