Success Rate for Debt Soars: Consumers Baffled

December 9, 2003

I once heard a successful business man say; “If I could make a man sacrifice for five years of his life I could make him rich.” WHY? Is there some secret five year plan that we should all know about? Well—not really. The truth is it’s not landing the right job, owning that great business, or investing in those special stocks. It’s about control over spending habits. Without that no amount of money will ever make a difference.

Groton, VT (PRWEB) -- The answer to most debt problems, even for those unexpected maladies like that $1500 transmission problem, can be traced back to a track record of poor money management. When the successful business man talked of sacrificing for five years he was speaking of learning to control spending habits. After all, what good is a six figure income if you’re consistently spending more than you take home? But the consumer is not all to blame.

As if exerting self-control was not in and of itself a monumental task, there are powers that be with a keen interest on your wallet. Like H. G. Wells once wrote of those cold and unsympathetic Martians that keenly scrutinized humans with envious eyes, these powers dangle enticing offers while looking at your wallet with their own envious eyes. They are masters at deception. There shiny tokens of plastic offer you the illusion of power, prestige, and a false sense of security. And when you look at all that buying power you begin to believe yourself that you’re worth more than what your take home pay allots. Beware; you are now behind the wheel of uncontrolled spending heading straight toward the land of minimum payments. Your debt is their success.

Without control in our lives of how we spend our money we will never join the ranks of the 4% in America who are financially independent. If you need proof then look no further then the 1953 graduating class of Yale University. Only 3% considered it in their best interest to write detailed plans of financial goals they wished to achieve. Twenty years later those 3% were worth financially more than the combined 97% of their classmates.

To many, the thought of controlled spending means sticking to a budget. But controlled spending is only one part of your financial success. Gene Jolley, President of Kingdom Financial Principles (KFP) and creator of the Rapid Debt Reducer software, continues to give sound financial advice to consumers baffled by debt dilemmas. Strategies for overcoming debt include: when to act, setting goals, spending analysis, needs vs. wants, savings, tax protection, investments, dollar-cost averaging, and when and how to increase savings.

Are you behind the wheel of minimum payments? Do you believe the masters of deception? They want the headline to read: "Success rate for debt soars: consumers baffled."

Four percent (4%) of Americans are financially free. Why not you?


Contact:
Gene Jolley
Kingdom Financial Principles
877-584-0536
http://www.solongbills.com
http://www.rapiddebtreducer.com