Jealousy Leads To Bankruptcy.

When analyzing the cause of bankruptcy more often than not it is jealousy that leads to bankruptcy. Credit card debt is more often than not due to people charging things that they cannot afford to pay cash for the purchase.

Additionally the charges are for things that the person does not need. So where does jealousy come into play? Jealousy rears its ugly head and convinces us that we need to purchase a 52 inch screen television or that new and improved video system. For others it is not things that we can that use on a daily basis it is for things that we use once such as food, drink or entertainment. Either way jealousy has us justify the purchase by playing the same tape in our heads. We deserve these things because everyone else has them.

Galatians 5:26 states “Let us not become conceited, provoking or envying others.” These appears to be sound advice for these trying times. As the Dow Jones dips 500 points today it appears that tough economic times are ahead. As Rudyard Kipling says if we keep our heads while others around us are losing theirs we can make smart choices to weather the economic storm that is brewing on the horizon.

If you wish to take control of your financial situation to either make a fresh start with your bankruptcy or attempting to stay out of bankruptcy then make smart choices. Before you purchase anything on credit ask yourself the tough questions and be honest with yourself. Are you buying because you want something or because you need something? If you need something ask yourself do you really need it now or can you save up to purchase the item?

If you start to analyze every purchase in this fashion you will begin to take control your spending habits. Knowledge is power and with the knowledge you can take control of your financial future and make smart choices.

Written by Kansas City Bankruptcy Attorney, Rachel Lynn Foley.