Rich Credit Debt Loan

Being broke means that you are relying on cash advances on your credit card in order to pay your rent or your mortgage, and you are praying that you are going to have enough money left on your credit line in order for you to do so.

Being broke means having more student loans than you can handle, making you nauseated when you begin to think about how long it will possibly take for you to repay them.

Being broke means being afraid to open up your credit card bills because you are legitimately afraid to see what you are going to end up owing, because you have absolutely no way of making the payments. So instead of dealing with your bills, you are getting hit with all of the finance charges and late fees.

Being broke means wanting to buy a home but having absolutely no idea where on earth you are going to be able to come up with the money for the down payment, so instead you are stuck in an apartment or a small place that you are unhappy with.

Being broke means counting every single coin that goes into your change car and scrounging under the cushions of the sofa in a truly desperate attempt to find enough money that you can cover not only the bounced check but also the overdraft fee or bounced check fee that the bank is going to hit you with.

Being broke means wanting to save money for the college funds for your children, but having no idea how you are going to swing it because you are already stretched beyond strapped and trying to pay your car payment and your mortgage payment, and you have not even begun to think about retirement saving let alone put away a penny.

Being broke means not having a single penny saved for everything or anything despite having a decent job. Should your car happen to break down, you will also break down. You do not have any money saved for the repair payment, and yet you rely heavily on your vehicle to help you get to work.

Now that you know what being broke is all about, it's time to change things around. Does reading this list fill your stomach with butterflies because you've experienced these things for yourself? If so, know that there are solutions out there - And the right money management tactics can really make a difference when it comes to overcoming your broke status for better financial health. The first step is going to be to establish a budget judging where your money is coming from and going so that you can determine where all of your money is going and how you can stop it from all rushing out the door so quickly.

Photo Credits: Phoney Nickle

Originally posted 2009-08-31 03:17:33. Republished by Blog Post Promoter

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