Are you in this trap too? You are not alone.

Recently, I have met many prospects who are facing problem paying up their credit card bills or bank loans. Sometimes I wish I could help these people plan their finances well earlier. One of them even mentioned that he would ask his teenage daughter to seek professional advice from people like me when she has started her career. He doesn’t want his children to be in the same financial situation like him. 

Very often, these people who have debt problems feel very alone. They tend to keep the debt problems to themselves, not wanting anyone to know because they may feel ashamed, silly, guilty, loss of pride or worry about losing their job. For some married persons, they don’t share or even dare to let the spouse know about the debt problem. In short, many heavily-indebted individuals carry the heavy burden alone and in silence. As a result, the debt problem grows bigger, the stress level becomes higher, work performance is affected, relationships turn tense and subsequently, the individual may become depressed.

Financial issues cause many divorce cases. It is sad to see when family ties are broken because of financial problems.


Never take on more than you can chew, or in this case afford. Before making that commitment for a loan or undertaking always evaluate carefully before signing on the dotted line. It’s not only a matter of convenience. Your credibility itself is on the line, in addition to your personal honor and integrity and reputation. Pay your bills on time – even earlier than required. This applies to all loans – whether they are for rent, mortgage, utility bills, bank loans, credit card payments or student loans. If you cannot pay in full, then at least pay a bit above the minimum payment.

If you want to avoid this trap, always spend within your means. Use a debit card instead of credit card.

cut credit card

At least you know you are spending the money you really have.  With debit cards, cardholders exercise the choice to “pay now,” compared with credit products, which allow cardholders to “pay later.”


Live debt-free, worry-free!



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