Cutting Credit is a Good Thing

September 13th, 2009

Contrary to a recent article in USA Today (Wednesday, September 9, 2009, p. 2 B).  John Ryding, chief economist of RDQ Economics, said about this, “This does not bode well for the significant, sustained rebound in real consumer spending.”

If our economy can only sustain itself with out of control spending and liberal use of credit, America, get ready for a bigger course correction than the one we are recovering from now.

If healthy people were to copy the diets recommended for patients being treated for cancer, they would become even healthier. Eating a mostly alkaline diet, lots of fresh fruits and vegetables and little animal protein starves cancer cells and improves overall health and energy. If you add to that, little or no sugar, white flour, dairy, alcohol and nicotine, you are adding years to your life.

So, when debt drowning people go to debt counselors for help and are told to pay cash for little and big purchases, incur no new debt, pay down debt to zero, and live within their means, they are more able to create financial health for themselves. Why won’t people who are not yet on debt life support do the same thing?

Living within one’s means is a reality check to curb and reverse self-indulgence gone wild. Learning to live without the sport of shopping, which may be the most popular sport in America, is a challenge for many. Yet breaking the bondage of “buying for the thrill of it” is a deliverance that many people require to be able to afford to live their lives.

Cutting credit is a good thing. Learning how to live within one’s means, spending less than you make, is a course we may all need to take and excel in.

Reinventing the way we handle money, buy and save, plan for the future and the future of the next generation is required. Cutting credit is a good thing.

One Response to “Cutting Credit is a Good Thing”

  1. marianne Says:

    Being out of debt is a very freeing feeling. It is amazing the invisible burden one carries when there is money owed to a creditor. It makes the creditor master of your fate instead of you. We are all connected to an unlimited, creative, unending supply; it begins to flow when we stop blocking it up with fear of the unknown, fear that we won’t have enough, fear that we might not dress as well as someone else or have the right furniture or jewlery or house. Fear is unquestionably the biggest blockage we have to the freedom we were created to experience. A little planning ahead, a little self control, a little look in another direction for entertainment and fulfillment, and we will open up a myriad of possibilities that did not seem to exist when we were in debt, because we were too focused on paying off the debt!

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