D-E-B-T and Saving

I'm sitting with all of my notes and papers scattered around me, but before I dive in I wanted to post quickly and attach a link to a little "article" that popped up on yahoo yesterday.

It's nice to see that more and more people are becoming aware of the debt trap. Now if only we can convince most people to use the "economic stimulus" check to pay down debt.

I'll be the first to admit that I've invested in a few purchases lately getting ready for the coming spring/summer and that I (guilty!) also purchased a cheap new little digital camera. Sigh. However each purchase has been something I've been thinking about for awhile and have been waiting on until I potentially had the funds. Somehow, even with a fairly frugal student budget and saving for the coming months, I had the opportunity to make those purchases now.

However, I also always try to keep in mind what may come up tomorrow that will take more than I expect and budget accordingly. Planning for the unexpected AND the expected because something unexpected always comes up. I've been budgeting since I moved here to save money to pay for tuition and housing for summer when I won't have as much student loan money available to cover all of my expenses. And as much as I hate the idea of borrowing the full amount of loan money to pay back at a later date, I also realize that investing in education is one of the few debts that actually does pay one back at a later date. Plus since I've accustomed myself and generally choose to live a fairly cheap existence, it will be easier to pay off the debt as quickly as possible maintaining the same standard of living. How I long for a debt-free existence again!

One concept I have been wrestling with though is the idea that it's okay to spend on occasion to go out with friends or to purchase something that may be more of a simple pleasure. I think it's important to be aware of these choices though and how they impact the greater picture (such as human rights, recycling or passing on of old goods, etc). And to also make sure that I'm aware of where all of my money is going. However maybe I've decided that living as a hermit in order to save money, may not be the best idea....;-)

So now to the article, "The Seven Deadly Sins That Lead to Debt."