Bad Credit Truth

In the game of life, there are two basic functions:  Wanting and Needing.  These two phrases can be directly linked to bad credit.  There is a very big gap between the needs of our life and the wants of our lives. We begin to trick ourselves that the wants are really needs.

The key to differentiating these two is to remove the emotion from the situation.  When you want something so very badly, you can become stuck in a rut.  You begin to fantasize about this particular item or thing.  You begin to trick your self into saying that you can no longer live with out this item or thing in your life.  It has become a life and death situation.  When you start to live with this kind of life style, then you start to throw the other important things in your life to the way side.  For example, you start to not pay attention to the due dates on bills, because they do not have a higher priority than the item that you lust so very badly.  This is when your credit starts to take a turn for the worst.

My mother taught me a lot of things, and one key thing that she taught me was, when you want something so badly, you end up getting it.  Then give it a months time or so and you will no longer appreciate it.  I have done this so many times in my life I cannot count.  i will give you a prime example of this.  I used really be into cell phones.  I would rarely have a single cell phone for more than a few months.  I would buy one, then I would get bored of it and then search for a new one with bigger and better features.  Then I would get the best one out there, and the viscous cycle would begin all over again.  So you see that it is one bad financial decision after another that snowball’s and ruins your credit.  If I had just stayed with one particular cell phone, then I would have saved myself a lot of money.  The same principle can go with a lot bigger purchases like buying a car, or home.

What you need to do is stick to your guns when it comes time to “want” something.  Is it really what I want?  Can I really live without this thing?  These questions need to be answered before buying anything.  If you start out with small items, you will learn a good habit for when it comes time to purchase your first big item.

With all of the hype out there in this world today, there is a lot of pressure to have the biggest and the best.  You know the old saying, “Keeping up with the Joneses”.  When you see television commercials that have, “ACT NOW!”, 0% FINANCING!”, you say to yourself, “Wow, I think that I can have that.”  or “I think that is do-able.”

Well, In most cases, the answer to that question is going to be a no, you cannot afford it.  I think that the American people are just as at fault for the catastrophic  mess that the country is enveloped in as the lending companies that are always blamed.  i grew up in a family that always bought quality merchandise.  My parents philosophy was that you always get what you pay for.  Meaning, if you buy something on the cheap, then it is obviously not going to last long.  I think that most people have that same ideology, but the reasons are a bit skewed.  Its more used for showing off to the neighborhood of what you have, then actually doing it for economic reasons. My mother always had a good formula to combat impulse purchasing.  Give your self twenty four hours, and if you still want/need it , go and get it.

Most of the time, people would like to say woe is me, and it’ s not my fault for the situation I’m in.  People are always trying to make excuses on why it was out of their control.  In some instances, people have there identity stolen.  In this case, it would be very unfortunate for the individual.  In most cases, companies will advise you that your identity has been compromised, and they will offer free credit monitoring for you on your behalf.

All in all, your credit is all up to you.  It is your responsibility to be mature and pay your bills on time and come up with a budget with all of your expenses in mind.  It is easy to get caught up in the “hype” of the glitz and glamor of the world we live in.  Peel back that very thin silver lining, and all you get is empty promises.

Welcome to Bad Credit Truth.  Soon there will be alot of information available to users pertaining to the world of credit and creditors.  Stay tuned!