Thursday, May 20, 2010

Keeping Up With the Neighbors

By: Jamie Lyons

All too often today, we are seeing people buying things just to keep up with their neighbors. Curtains twitching seeing the latest purchase from the neighbors and then going out there and getting something bigger and better. This then spirals out of control and before you know it, you are in debt up to your eyeballs. Does this sound familiar? That is because this is happening all of the time. You may not be keeping up with your neighbors purchases but until just, lately credit has been excessively easy to obtain and as a result, people have been spending as if it has been going out of fashion.

It may be nice to have the latest car or newest kitchen but when it comes to paying for it all it is a completely different story. People have been losing their houses going bankruptcy, resorting to IVAs just to keep their heads above water.

The question is, now that you are in all of this debt what can you do to get debt help and stop you worrying over your money problems? The simple answer is not to live beyond your means and only spend what you can afford.

People often resort to consolidating all of their debts with an interest free credit card. This is fine if you are strict enough to leave it at that and put a plan together to pay off that credit card bill before the interest free period runs out. Credit card companies however are not stupid, will usually charge you a percentage for transferring your balance, thus adding to your debt, and will no doubt offer you an interest free period on all purchases with your new card for a specified period. To somebody who has already built up a lot of debt this is in most cases too much of a temptation, so rather than lessening their debt they are actually adding to it. Credit card consolidation is one way of sorting your debts out but only if you are a saint and can keep to the repayments until the balance is cleared.

A more realistic solution is to get in touch with a professional debt management company. There are lots of them out there and all you have to do is type 'debt management help', 'debt consolidation help' or something similar into a search engine and you will be greeted with hundreds of results. The question is who to choose? As with everything in life, it pays to do your research. Look for companies who offer debt management plans, debt consolidation loans. Most of the companies offer free initial advice and can help you do what you have wanted to for a long long time. By putting you on a strict debt management plan, you will get out of debt in the quickest and most beneficial way to suit your circumstances.

About The Author

Written by Jamie Lyons for DHFS- experts in debt consolidation help

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