I haven’t talked about students taking out student loans yet and there is a reason for this. That reason is that, young students make the quick decision to jump into the best schools as soon as they can and rack up massive amounts of debt. While Harvard does look good on your resume, nothing stings more then being told your over qualified for a job. My suggestion for kids graduating high school, is start off small. Go to a community college and start with an associates degree. Most young adults don’t really know what they want to do with the rest of their lives, and are certainly not prepared for it. Get the quick degree to get your foot in the door.
Build your life experience instead of just gaining the knowledge. If you want to be a doctor, become a paramedic. You’ll gain a better understanding of the medical field and you will see the dark side of the industry. Every one wants to start at the top. Instead, start at the bottom and work your way to the top. Nothing says you can run a company like toughing out being the low man on the totem pole and ending at the top. Knowledge is only half of the battle and without the experience your likely not going to get what you want out of a career.
While as the nation’s debt soars even farther out of control, your personal debt doesn’t have to follow suit. Trumping your debt is super simple. A little common sense goes a long way in staying out of the line of fire and out of bankruptcy. As there may be things that happen in life that you could never predict, it’s not impossible to plan for any of those events. A little hard work goes a long way when managing debt. If you have fallen victim to the revolving door, and it seems like you’re in an endless cycle remember to keep a level head. As long as your willing to do the work, getting out from behind the is not impossible. When taking on a Bonnie and Clyde life style seems like your only option there is a lot you can do. You Don’t have to take on a life of crime or declare bankruptcy to get past your tough financial times. You just have to remember to know who you owe. How much you owe them. You need to remember to make the minimum payments on time every month, and if for some reason you can not do that you need to at least contact the creditor let them know what is going on. Never take on more debt than what you can handle.
Once you have been caught up in the debt trap, it may seem impossible to make your way out. I assure you can do it. There are numerous agencies that exist with the sole purpose of keeping people like you going and getting you out of debt. Never be afraid to ask for help. A debt relief agency will help you negotiate past debts and ease the burden for you. Credit consolidation agency also assist you in developing a plan to get past some financial hardship. In most cities, there are also programs such as debtors anonymous, similar to like an Alcoholics Anonymous, it is a support group for people who feel sunk by debt they have accumulated.
There are also other support programs if you happen to have an addiction to spending money. Don’t be afraid to seek help. You’re financial troubles affect more than just you and your family. Your ability to spend affects you’re neighbors, the local grocery down the street, that little restaurant you used to go to all the time. When you get caught up in debt, and are stuck making payments and can’t afford the little things, your local economy takes a hit.