Don’t Sweat the Small Stuff with Debt ™

in Debt Reduction, Debts, Rant

Would it be possible for me to contrive a dumber or more irresponsible title? Saying don’t sweat the small stuff with debt is akin to saying, be irresponsible with money.

I am starting to see this philosophical drivel now being applied to money or debt, and frankly, I am appalled by those who might espouse not being diligent about money and debt, and the day-to-day issues of money in particular.

There is 1 truth about not sweating the small stuff about debt, if you do not sweat it, you won’t have to worry any more about small debt stuff, because it will have become a F*cking BIG Debt. I guess that implies you are supposed to sweat the big stuff about debt?

Yes, you can drive yourself batty micromanaging some things, but debt is not one of them. If you don’t have a plan to deal with your
debt, no matter how small the debt, or how unimportant you view debt, you may as well start setting money on fire or start buying crap
on the shopping channel.

The nice thing about little debt, let’s say $500 left on a credit card, which compounds 18% interest on it, that after 3 years of not sweating it and just making a minimum payment of $20, you will have only paid $132 in interest charges, so why sweat it? Seriously, I am positive I have heard folks make that exact argument, and you wonder why I am so cynical?

The Banks, Credit Card Companies, Pay Day Loan Companies, Risky Mortgage folks all really think that not sweating  the small stuff with debt™ is a great thing, because they make money with no sweat on their part.

Should You Not Sweat the Small Stuff?

Sweat every part of Debt™ ! 

That is the way to get out of debt and make your life happier (I’d like to thank Mark at My Own Advisor for complaining that I hadn’t ranted about debt for a while).

{ 1 comment }

  • Michael James October 17, 2012, 2:29 PM

    Equating burning money with “buying crap on the shopping channel” gave me a good chuckle.

    Reply

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