Good_Money_Mangement_Skills_Are_Key

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					Good Money Mangement Skills Are Key

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508

Summary:
The mortgage loan that allows you to pay off your debt and then get into
more debt with overspending is a very bad choice. This interest only
mortgage could help some people, but more often than not will encourage
people to spend more money than they really have to spend.

There are so many ways to get credit these days it is no wonder that
people are spending way more money than they actually earn. On college
campuses there are people everywhere extolling the virtues o...


Keywords:
managing credit card debt, money management, assets


Article Body:
The mortgage loan that allows you to pay off your debt and then get into
more debt with overspending is a very bad choice. This interest only
mortgage could help some people, but more often than not will encourage
people to spend more money than they really have to spend.

There are so many ways to get credit these days it is no wonder that
people are spending way more money than they actually earn. On college
campuses there are people everywhere extolling the virtues of spending
money on credit cards and trying to get students to sign up for way more
credit than they need. Many people are too immature to really use credit
cards properly and shouldn’t have them in the first place. If you get an
interest only mortgage you will probably be getting a home you really
can’t afford and paying off credit card debt for things you couldn’t
afford from the beginning. This is not progressive thinking at all,
instead it hurts people’s finances and doesn’t help them to make wise
choices for the future.

If you get an interest only mortgage you are simply replacing non-
deductible debt. This over extended debt continues to hurt consumers as
they pay and pay. If you are already in credit card debt then it is a
bad idea to continue to spend and spend. These companies don’t want you
to stop spending because if you do they won’t make money. Credit card
companies need to keep you spending for them to make money. Every time
you spend money on something you don’t need you play a role in keeping
yourself in debt. It can be hard to get out of debt, but it is something
that is well worth it for you and your family. You don’t want to keep
being sucked down into debt and ruin your credit.

Each person needs to be responsible for his or her spending habits. If
you don’t take control for your own personal finances, then who will?
There are some companies that will advertise to people with bad credit to
take up and interest only mortgage with them just to pay off their credit
card debt. These companies are preying on your inability to take care of
your own personal finance situation.

When people really know about what kind of terms and conditions are
involved in an interest only mortgage they will be much less likely to
opt for this kind of mortgage. This is a very risky investment on the
part of the lender so they will try to get the most money from the
consumer as they possibly can. If you opt for this type of mortgage loan
then you might spend a lot more on your house then you could of ever
imagined. Try to get your credit situation in order before you buy a
home. Learning to spend more wisely is the first thing to do when you
need to get your life in order!

				
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posted:3/2/2010
language:English
pages:2