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5 easy ways to get into debt and stay there

Updated on July 17, 2014

Debt is a good thing?

American's are in the lead when it comes to using credit to purchase an amazing amount of stuff they don't really need. With that idea in mind here is an article on five easy ways to get into debt.

Credit card applications

Make sure to sign up for every credit card which comes in the mail. Each day mail boxes across America are stuffed with letters which begin with the words. “You have been per-approved for this card,” simply fill in the application,” and mail it back. If your receive these application just mail them all back until you have more credit cards then you need,

Buy some big toys you don't need

Go out and buy some big item and get one of those, “Same as cash,” deals. Everyone has seen same as cash if paid off in six months or less. If you want to be in debt buy all your items this way, but beware if you miss a payment or are late just once, then the interest is added.

Cash is so old fashioned

Don't use cash for anything. When you are out shopping even for a pack of gum whip out the credit card and use and use and use. Soon you will find you have a balance on the card which will not be paid off in your lifetime if you only pay minimum payments.

A house, two cars and a dog

Buy a house, two cars, and some other stuff on credit. There is nothing like being in debt and paying not only credit cards but also a house payment and car payments, especially when you can't afford them. This means you will spend at least the next three years paying car payments and maybe up to thirty years paying house payment.

Consolidate and keep going

And not really the final way to be in debt, but a really big one, is to consolidate your bills into one easy payment. This concept is big in the mortgage business. You know those consolidation loans you get when you are almost ready to pay off your house and your credit cards, that extend once again your debt out over the next twenty to thirty years.

Oh yeah, I almost forgot the refinanced payments are sometimes more than you were paying seperately.

One final thought

While this not an exhaustive list these to me are the five biggest, reasons people like me got into debt into debt in the first place. I could have added student loans and some others but I will leave them for another article.


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