The economy is taking a downturn and it looks like there may be rough times ahead. There are warning signs. Prices are going up and values are going down. Some who have made plans for their retirement are now realizing that their will be in want in the years to come.
This can be called Debt-Debt. Debt from credit cards is one place this can happen. With high interest and fees, credit card debt is many of the leading causes of Debt-Debt. Another source of a deficit is from children and kids. Whether one is a little kid or a big kid, the bills are mounting. One area of this relationship that may be dangerous is medical bills, counseling, and medication. Think about adding this to your budget. Another place debt is on the rise is in house mortgages, car payments and insurance. But accidents happen and the with bad insurance coverage, the premiums are quite high. Debt-Debt, a question of who owes who.
Running out of cash and running out of options can be daunting. Asking for an early inheritance is one way some have alleviated the pain of Debt-Debt. Unfortunately, when the money is gone, one is left with no money and no inheritance. It’s all been spent on a new car, a new phone, and a new wardrobe.
One can be destitute and devoid of any wealth and worth. They will be left behind. Take heed of the darkness to come.