Debt can easily become a way of life. There are so many things that people want immediately, that could wait until they can afford it. It is difficult at times to balance your wants and your needs. Here is a list of five items that you should not go into debt for. Most of these items are purchased on credit cards, which tend to have high interest rates.
1) You should not go into debt for vacations. A vacation is a luxury. Many people tend to spend more on their vacations when paying with the credit card, instead of paying with cash. You can plan and save for a vacation.
2) You should not eat out on credit. This can be an expensive habit. At the end of the meal all that you will have to show for it is a full stomach. When you receive the credit card bill, you won’t have a tangible item to go with your bill. These expenses add up quickly, and may take some time to pay off.
3) You should not buy gifts on credit. This may take some planning, but you can put aside money to pay for gifts throughout the year and at Christmas time. If you are paying with cash (or from a set amount of money) you will limit your spending, and still be able to purchase nice gifts.
4) You should not go into debt for your hobbies and interests. These include video games, DVDs, CDs, books, toys and games. It may include a boat, golf equipment, and sports tickets. It also includes massages, manicures and trips to the spa.
5) You should avoid going into debt on clothing. If you need to you can find inexpensive clothing at discount stores, and second hand stores. If you must have the latest styles, in the hottest brands, you should plan and save for these items.
Unfortunately debt has become acceptable in our society. It can limit the choices you make in the future. It can hold you back from future opportunities. If you can change your lifestyle so that you have no unnecessary debt, you will be able to accomplish more with your money.