Like the deadly sins referred to in the bible, there are also 7 sins that are directly related to the cause of debt. Those who sin financially do not have to die in order to be punished for their misdoings, since debt will haunt them quickly and surely. By making poor choices, hasty decisions, and following their sudden temptations, individuals often fall into the death trap known as debt and bankruptcy.

The first of these deadly sins is envy. Consumers often turn to television and pop culture to determine what they are missing in their lives. As prices of luxury items are more affordable than ever, many individuals are making the rash decision to just go ahead with their desired purchases, regardless of whether they can afford it or not. Therefore, these individuals fall into debt because they are jealous and envious of others in society and are willing to spend their money to try to be more like them. Another deadly sin is pride. Pride is a sense of self-confidence that is very prevalent in American society today. People feel that they will always be able to pay off money they owe later. Before they know it, they will actually be falling into a downhill spiral towards bankruptcy. This hubris proves to be fatal, since financial problems can come unexpectedly. For example, a car accident or medical condition could require a large sum of money suddenly that a customer may not have readily at hand. Not paying attention to details or understanding rules are other serious problems in the realm of debt. While finances require manipulation of numbers and information and rules, customers often overlook things. Failing to adhere to a simple rule or due date can be a serious problem in the long run. Such a problem is caused by the simple mistake of not paying attention to all the details.

Another problem is that Americans often get greedy when they are borrowing money from others. Overbuying is a trap that consumers can easily fall into. Likewise, when borrowing money, consumers are easily persuaded into spending a little more. What’s another 4 thousand when I already borrowed 20 thousand? Don’t be angry at other people for your own personal problems. By not accepting your faults and constantly blaming others, you will never accept your problem and therefore will probably never deal with them. Never be gluttonous. You might think you are saving money by buying things on sale, but do you even need those things at all? It is foolish to spend great deals of money and simply comfort yourself by reminding yourself of how hard you have been working. The final sin is lust. Men often waste their money on adult entertainment, whether it be going to a strip club or buying pornographic videos. Moreover, this also involves men spending too much money on dating women and trying to impress them. Avoid these 7 deadly sins, and surely you can avoid falling into the “hell” of modern society.

This entry was posted on Friday, October 23rd, 2009 at 10:24 am and is filed under Uncategorized. You can leave a response, or trackback from your own site.