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AVOIDING THE DEBT TRAP: A SIX STEP STRATEGY

It seems that we will always want for something. Who has everything? Who can really say that they are very satisfied? The problem is that want can lead us to make purchases that our wallets are not able to pay for.

With the invention of the credit card, a piece of plastic that we now trade with, it has become so easy to satisfy our wants, whims and fancies. We have essentially by passed the process of having a goal and of working towards it. This may be one reason why so many people are dissatisfied. We have what we want but we have no process whereby we have gained it, and therefore no satisfaction in the attaining of it.

It's like that saying, Anything worth having is worth working for.' This is evident in the behavior of children that they have no appreciation for the gifts that they receive. They have not earned the money to buy the gift, so they do not appreciate the cost to attain it and do not grieve when it is ruined, either purposefully or unintentionally.

The key to contentment then must be in our attitude in the journey towards attaining those things that we want, rather than in our arrival. If we set off with a plan of how we are going to achieve our desires, a willingness to work hard and labour long, with patience as our heart's guard, we are more likely to have peace for the journey and to arrive at our destination. It is when we bypass planning in our overriding passion to possess that we set ourselves up for a fall.

How many of us have found ourselves in crippling debt because of our passion to possess instead of our wisdom to control our wants?

Here are some steps to avoid the debt trap by learning to delay gratification:

BUDGET
No, it's not a dirty word and, yes, it is achievable! Draw up a budget and stick to it. If you don't know how, there are plenty of online sources to learn how. Oprah's Debt Diet is a great inspiration if this is your issue. Have a provision in your budget for miscellaneous items because from time to time you will have genuine needs. A wise person in my life once told me, "For every cent you don't have a plan will be a cent wasted."

WINDOW SHOP
Look first but don't spend until you know you have the best deal and you really need it. Compare quality and prices between vendors. It is amazing what bargains you can find if you take the time to investigate your options. Further, the process of looking may sort out if this is a need or a want.

SPEND ONLY WHAT YOU CAN PAY FOR
A common trap people

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