Comments on: Why Was Debt Created?

By: 10 First Time Homebuyer Mistakes

10 First Time Homebuyer Mistakes — Wed, 02 Jun 2010 11:01:51 +0000

[...] After all, we needed furniture and new draperies and new blinds and new this and new that. I also needed to have my head examined. Here I was, fresh out of Consumer Credit Counseling, spending money I didn’t have. I still had not learned my lessons about debt. [...]

By: Link Round Up – The Gift That Gives Edition | Do You Dave Ramsey?

Link Round Up – The Gift That Gives Edition | Do You Dave Ramsey? — Tue, 22 Dec 2009 11:02:47 +0000

[...] Wisdom Journal asks – and answers – why debt was created. [...]

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By: Ron

Ron — Thu, 10 Dec 2009 15:37:08 +0000

Great point. Sometimes by not knowing, other times by ignoring!

By: Rachelle Allouche

Rachelle Allouche — Thu, 10 Dec 2009 15:34:38 +0000

Good points. May I add one more?

Debt often means not understanding (or pursuing) financial options to minimize surprise costs. For example, we know of a couple that didn’t have an extended warranty on their car. And, they were hit with an outrageous bill when the transmission failed. They had minimal savings, so it put them into debt.

We have avoided this by getting car repair insurance. We have EasyCare, and it has covered mechanical failures that would have really hit our budget hard.

So sometimes, debt is caused by not knowing the financial options that are available.

By: Home equity and Home Loan Equity Mortgage Calculators » Loan … | Mortgage Finance Wisdom

Thu, 10 Dec 2009 09:19:30 +0000

[...] Why Was Debt Created? [...]