So, what wrong with making payments ?

Most of us are currently making payments on items for which we couldn't pay cash. So, what's wrong with making payments? For some of us nothing. But, for most us a lot! Here's the problem. Making payments has become a way of life for many Americans. Many are so mired in debt that it is robbing us of our financial peace. Now, my concern isn't about mortgages, rather it's about the average American's addiction to debt. Instead of asking how much something costs, we begin by asking what the payments will be. When I was a child in the 1970's, the extent of most peoples indebtedness was their mortgage. In the 1980's, as the price of auto's increased, financing became more common. Credit cards also began gaining in popularity since they made items that for most of us were unaffordable, affordable. We no longer had to delay our satisfaction!
Fast forward to 2008, it's now normal to have two car notes, a mortgage, a second mortgage or home equity loan, and several credit cards. Most households require two incomes just to stay ahead of the creditors! And, you'd better not be late on the payment or your rates will sky rocket. Many people believe that they are in so far over their heads that there's no way out. So, what are we to do? We've got to get back to money basics, which include spending less than you make, saving for emergencies, budgeting, and delaying gratification. If you're unsure of where to begin, here's the first step, "Stop Borrowing !"