MANAGING PERSONAL FINANCES
“DEBT”
Of all the problems facing families and individuals in the early 21st century, none is more distressing than that of debt. When people buy things on debt that they cannot afford to own, they do not avoid the consequences; they simply delay them and often make them much more worse. Too often debt is used to delay making critical decisions until it is too late. A young man or woman can buy a house or car on higher purchase as long as monthly payments are dependent on ideal circumstances i.e. ones income is not interrupted. There is a predictable cycle when one gets into debt
 
Phase 1 Denial: The problem is ignored in the hope that it will magically cure itself
 
Phase 2 Fear and frustration: when creditors begin to harass you through nasty letters or telephone calls
 
Phase 3 Stress and pressure: Many people in financial stress will buy something new since in our society today, the ability to buy new things is often equated with self worth.
 
The reason why some of the problems don’t get solved is because we are treating just the symptoms!!!!!!!!!!!! The symptoms are what we see. But the problem is Ignorance and attitude. These stem from a violation of some very basic financial principles that are not taught. It is an indictment on our education system and our homes that people do graduate from secondary education, colleges and universities without even a basic understanding of how to manage money properly. There are basic principles that we can follow in order that we may be a success in our day to day lives. Principles don’t change; they are forever the same wherever you go. Whenever we try to change the principles of life we don’t break them instead we break ourselves. 
 
Today we live in a world that is influenced by credit & debt already. Finances are an integral part of our daily living and can affect us either positively or negatively.

If we follow the correct personal financial guidelines, we can enjoy the blessings of their application. These guidelines will forever change the way we think about finances and can be used as a guideline for making wise financial decisions