Pay Now, Not Later 14 Dec 2009 by Johan Kriegbaum in Getting Ahead Blog

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The year is almost over! Most people want to have a clean slate to deal with every New Year. And one way to make things right is to organize our finances. One of the foremost points of contention, so to speak, is our debts. Do we have debts yet unpaid? Are we struggling to eliminate, or even just lessen our list of money or credit card debts? Where do most of our debts come from?

Honestly, paying off debts is really hard. It’s like getting off a bad habit, like smoking or playing poker any chance we get. It’s also like losing weight and shedding unwanted bulges around the belly. Indeed, getting off a habit is a slow process and paying off our debts is also a slow process. Sometimes, it would take a couple of months and even a year just to repay one loan, particularly credit card bills or other personal loans.

Getting out of debt is not fun, I tell you. It takes a bit of sacrifice and, to some extent, self-deprivation, like doing away with things for yourself, like a new mobile phone or a laptop. Well, I may not understand how much debt you are worrying about now, but I have good news for you! Remember this, it is the willingness to pay the debts that matters the most. In paying off your debt—whether it’s a credit card bill, a payday loan, or a loan from a friend—it is not the amount that is important. The real issue here is your willingness to pay your debts. And, you have to try to pay it on time, or else, it will turn into a double whammy! You’re going to pay the amount borrowed, plus interest or late fees. Now, that’s unacceptable, right?

So, to have a better, worry-free financial year in 2010, try to resolve paying your debts as soon as possible. You’ll be the first one to heave a sigh of relief.