Debt: A Trap for Lifetime

by on November 21st, 2010
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There is no limit to human desires, the more you get, the more you crave for . The trick, to lead a well-contended and peaceful life, is to strike a balance between our income and expenditure. Unfortunately, lately, our mental peace has been robbed by our habit of taking loans. Through loans we manage to uplift our lifestyle and status in the society but in the process we end up losing our mental peace. The bargain, is in real, an expensive one and the amazing part of the deal is,we do not realize our loss which cannot be gauged in materialistic aspects.

The debt trap has engulfed almost every individual in the society. Today, we manage to grab comforts and luxuries in life by just signing few papers. One can get loan for almost all his needs, be it a car, house or a vacation. Once, you enter this debt cycle, there is no end to it and you spend your entire life in clearing the loans. One loan ends, the new crops in and the process continues, giving you sleepless nights. Mental peace is the most precious asset in life so let us try living a debt free life by following some simple rules:

Get an estimate of your real earning and then limit your needs within your income.

Draw a line between your needs and luxuries. For instance if your neighbor is driving an expensive car, do not try getting a similar one for yourself by taking a loan. Remember, comparisons give rise to unwanted desires. Pamper your desires only when you have extra income.

The loan givers try to lure you with several schemes, do not become a victim of greed and fall in their trap.

The credit card culture is making us extravagant so minimize the use of credit cards. Keep only one card and use it only in case of emergency.

Saving your money will add to your income which in turn will lower your chances of taking loans. So try save money as much as possible. A little care in handling routine household chores can help you save money without much stress. For instance, everyday before retiring for the day, turn off all the electrical appliances from the main switch. By doing this you can save some electrical units and you electricity bill will certainly offer you some respite.Try preparing your meals at home as often as possible and restrict dinning out for special occasions only. These are only few examples and one can find several small ways to save money on the home front.

Remember, our state of bliss in is our own hands and if we decide we can stop ourselves from entering this vicious circle of debts. A debt-ridden society has a short span of happiness so let us give our new generation a debt-free life, let us try teaching our children the art of enjoying within their means. Let us strive together to eliminate the growing menace of debt so that we can enjoy a sound and peaceful sleep.

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