Most people have heard of the expression, ‘money doesn’t grow on trees‘. Parents say this line to kids when they ask for a lot of things, or when they are not able to get something because it costs to much money. However, unlike money, it seems like debt does grow like a tree and it just gets bigger and doesn’t go away. If debt grew on a tree, what would happen to most people’s money and how can they learn to trim and control their debt tree.
Look at the way a tree grows. It starts as a simple one stem plant that soon sprouts some leaves. This is similar to how people start their debt. It starts with just one simple debt, like a car loan or mortgage. Then it soon grows into some credit card debts, student loans, jewelry, and other personal lines of credit that can make the debt tree a lot bigger.
The tree continues to grow as more debt is amassed and it’s hard to trim the tree as most branches and leaves need their water and sunlight to survive. People also need to money to survive and they just can’t cut all of their debt out at one time because they already have other debts that need to be paid. This means that they have to manage their tree and be able to slowly trim away branches without hurting the tree, as that would be bad for personal finances.
Starting with smaller leaves and branches, debt can be paid down with a budget and some planning. People can look at the debt that they can pay off first as that will free up more money to pay off other debt and start to manage the debt tree. By continually working on various areas of debt, the debt tree will soon grow smaller and more manageable.
There are some benefits to carry a little debt, so having a well maintained debt tree is the perfect form of shade for a sunny personal finance outlook. Living debt free starts with managing the debt tree.
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Tags: Credit Card Debt, Credit Help, Debt Help, Debt Relief, debt tips, debt tree, Personal Finance
This entry was posted on Tuesday, December 22nd, 2009 at 3:29 am. You can follow any responses to this entry through the Post RSS Feed.
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The debt tree is a lovely metaphore. Be happy on Christmas and see your trouble like a tree. Well, it is easy to manage a tree. All it needs regularly is trimming and cutting town to shape. Once it is shorter it obscures less views beyond.
What kind of outlook? Ours into the financial future…
That shows that something concrete is easier to deal with than something abstract. It’s the enemy we can touch, fight and eliminate, when it gets out of hand.
Thanks for the tips, I try to use it. Love your statement debt can be paid with a budget
This is some really information, I just wrapped up my paper for class and wish i would had found this article sooner. You may have just made me a regular