Who is in control? Avoiding the financial traps. The Third Law.
What most people do not understand or appreciate is the fact that CONSUMERS are the most critical component of commerce and industry. The world economy is constantly seeking new, more, and bigger consumers. The entire advertising profession, worldwide, has only one objective: To create the DESIRE, to taste, experience, have, use, or own, whatever it is that is being advertised. Once they have created the WANT, industry, by way of all the traps: Credit Cards, Overdrafts, Loans, Bonds, Hire Purchase, and Accounts, steps in to make it possible to satisfy those WANTS.
There is not enough time or space to present you with all the psychological processes that are used to get you to BUY, BUY, BUY. NOW, NOW, NOW. Why wait, why deprive yourself, look at everybody else, everybody is doing it, etc. etc.
But understand this. They do not care about you and whether you get yourself into financial trouble. In fact, they will even ignore the fact that you are already overindebted and give you more credit. All they are interested in is selling the goods. If the sheriff repossesses the goods, or the car, or the house, they will still get the money you owe them.
Every time you use Credit Cards, Overdrafts, Loans, Bonds, Hire Purchase, and Accounts, you are using money you do not have, and the goods do not belong to you until the accounts, bonds, hire purchases, have been paid in full. You are in effect working for the creditors. Credit is simply the modern form of slavery.
This is where you either become nothing more than another consumer / economic slave, or you TAKE CONTROL, and use their need to sell their goods, to your advantage. Cash is King and money in your hand is an amazing tool when it comes to the price you agree to pay for goods and services. Goods bought with cash always cost the consumer less.
You have to free yourself from your CREDIT OBLIGATIONS in the shortest possible time frame, and if you have done your budget, Chapter Four, and your obligations to your creditors are more than your income, you are over indebted, and you need professional help to prevent the financial disaster that is going to destroy your life if you do not get help. WARNING: NEVER BORROW MONEY TO PAY DEBT. IT IS NOT A SOLUTION; IT WILL ONLY MAKE THE PROBLEM WORSE.