Wealthy people are known as those who have enough possessions, resources, and assets to be financially comfortable. The term “wealth” is actually a relative concept had have different meanings across societies and cultures. Here in the United States getting “rich” has become the top goal for many living here. Getting “rich” meaning having more than just what you need to survive but also be able to afford all the things you want and don’t necessarily need. This is very hard to achieve for those who start with nothing. The idea of debt is easily sold as a stepping stone to getting “rich”. The fact is most people will just end up in a heap of debt instead of getting “rich” and possibly end up worse than they started. There are ways to build wealth safely without using debt. For example using prepaid reloadable cards instead of credit cards is a much more sensible way to spend.
First let’s address the myth, “debt is a tool and should be used to help create prosperity.” Debt isn’t used by wealthy people nearly as much as we are led to believe. Also, debt doesn’t always make sense. Most normal people are just plain broke because they are in debt over their heads. This myth has been sold to us so that we will think we need to use other people’s money (OPM) to prosper. However, those who sell this myth are profiting from our interest rates, our foreclosures, repossessions, and late fees. When we blindly believe in debt, we fail to acknowledge its risks that will destroy the perceived returns. It might take losing everything you owned and finding yourself bankrupt to put it into perspective.
Debt is the result of the strategic marketing plans of businesses. It the job of marketers to make people believe that if they purchased more things then they will find happiness. It is also their job to make people think they absolutely need things they really just want. Debt is a convenient way of getting what you want or think you need right away. It’s hard for consumers to tell the difference between wants and needs when they were always consuming in a constant state of debt. The idea of getting it now and paying for it later is very comforting in a moment of weakness. When the time comes to pay up, we reach deep down into our pockets and realize we are coming up short. Instead of continuing to enjoy all of our many possessions, we are returning them, finding out they have been repossessed, or we face bankruptcy and foreclosure.
There are a lot of reasons behind what makes us think we need to be rich. For the some it is achieving their idea of prestige amongst their society. Some think the only way to be respected to have wealth, others are just trying to mimicking the images of the rich and famous they see at movies and on TV. Some people think the only way to have power is to have a lot of money. Others are just tired of working and they want to stack up enough money be able to retire comfortably.
What can you give up now in exchange for being rich later? Are you sticking with a job that doesn’t make that much money to begin with? Do you see default approaching? If so it’s time to think about cutting your expenses or getting a job or promotion that pays more. Use prepaid money cards and cut up your credit cards! After all, what’s the point in giving up the stuff you like if you have a hole in your pocket? Keep the wealth you have. It’s hard to get rich, but it’s even harder to stay rich. Wealth unused might as well not exist.
Are you ready to get on the path to great credit? Start by getting pre pay credit cards from ready debit! Just go to https://www.readydebit.com to get started and stop spending money you don’t have!
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