9 signs you're in debt denial

You may think you've learned your lesson from the Great Recession, but if you're guilty of any of these unwise money choices, you may be fooling yourself.

By Richard Barrington, MoneyRates.com

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jobcoachusa
Jan 15, 2013 6:02PM
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it is simple..to not overspend..you don't need it ALL AND FOR GODS SAKE PAY CASH!
isn't that easy.?   .you don't need expensive cosmetics..try Avon..works just fine...great colors, too.
you also don't need a big diamond if you're getting married and a big wedding..do what
you can afford!!  Afford is the word here folks...the person is more important than the wedding
and have $$$ in the bank if you're getting married or living together..

Thanks for listening !  Rose in Las Vegas, NV

KEJ2000
Jan 15, 2013 5:57PM
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I love the photo of the guy quitting his job!  We need some captions for that photo, e.g., "SO LONG, SUCKA'S!!!!!!"
Unix_gawd
Jan 15, 2013 6:04PM
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I totally disagree with the "bought a new car to save gas...." denial. I will make this short:

 

I own a very large diesel guzzling truck I need & use for farm use. When the price of diesel "shot" past regular unleaded prices I purchased a small car for about 18k. My breakeven point between the price of diesel (based on my truck mileage) and price of gas (plus cost of car & insurance) was a little over 50 months. I have been seeing the benefits for over 2 years now. Of course, you need to hang on to a vehicle for a while to see a return as I have. ALWAYS obtain a breakeven analysis prior to making a purchase!!

BigBuffalo65
Jan 15, 2013 6:47PM
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I was in this cycle at one time took a little over( and a lot mac and cheese )2 years to get out of debit. Now I i do everything with cash.
BrandonKat
Jan 15, 2013 5:47PM
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I was unemployed four years ago, which has made me cautious about spending.  I am spending only on needs and some home renovation.  My credit card balance is up because of expensive dental work, which I will pay very shortly.  I don't use my debit card now - strictly cash - it makes spending more real.  If I think of buying something, I usually put it back.
moneymaid
Jan 15, 2013 6:09PM
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Maybe the idea of "saving" money is reduced directly to the fact that banks and financial institutions are offering pennies of interest to put your money there, while still charging ridiculous percentage rates on loans....most people saving money aren't stupid. Therefore your statistics on savings could be under the matresses afterall.
aleph52
Jan 15, 2013 8:22PM
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The joke is on those who thought they were doing all the right things.  Turns out those who were being responsible and following a budget they could afford before real estate prices crashed and unemployment set in get squashed.

 Once again, those who get up everyday and go to work, pay their bills on time, and spend only what they can afford are kicked in the teeth when they get a few months behind due to circumstances beyond their control.  And then there is no way to dig out of that hole the banks and credit bureaus bury you in.  All the "support" is for the lazy and irresponsible.  Maybe the answer is just to join them and let someone else pick up the tab! 

...Eventually there won't be anyone left to pay the bill.

TOBOGEEJOE
Jan 15, 2013 9:03PM
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Are you kidding me?  In this country of immediate gratification, I doubt 10% of the readers even comprehended the "9 mistakes".

I grew up dirt poor.  I started earning $ at 7 years old.  I was paying taxes by 13.  Other than roof and food, I paid my own expenses.

I thank god for growing up that way.  I was happy with very simple things.  I saved for and valued every purchase I made.  patience and hard work.

At the same time I watched my peers being given almost everything.  No such thing as working for it.

 

Those 9 mistakes.....I guess I am guilty of one.  My wife spends frivolously.  So what?  Everything is paid for, I owe nobody other than taxes. 

The best advise I can give.  Have one credit card for REAL emergencies.  Put away 15% of net income starting with your first job......the sooner you start the more conservative the type of investment that will give you a secure retirement.

And don't be afraid to work a second job for extras.

alur77
Jan 15, 2013 7:07PM
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This is hysterical coming from MSN. Why don't they send this to BO. Every symptom that is mentioned is being ignored by our holy commander and chief financial disaster officer of the United States.

 

You get the latest from him? He says Congress pays the bills. He's just an innocent, naïve guy like the rest of us. He's spending our money and we're cheering him on and blaming everyone else.

JB Economics Prof
Jan 15, 2013 8:28PM
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Holy Cow..........  send these to the President and Congress.  they apply just as much but with many more zeros!
Nicole G502
Jan 15, 2013 9:00PM
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I just love the stereotypes, women buying shoes, and the man with the car. I can't tell you the last time I bought an article of clothing, or accessories such as shoes, oh wait I think my work pants, were the last thing. I also walk around the grocery store with my calculator in hand. I am very strict when it comes to spending, and am an automatic saver, but I agree with what someone else said about the pathetic interest rates these days. What are we to do? Sometimes it makes sense to pay off more debt (as interest is always higher). Also I think they should make the "Richest Man in Babylon" required reading in high school. 
Carol Vanover (chef sunny)
Jan 15, 2013 8:18PM
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Could we send #'s 2, 4, 9, and 10 to Obama?  There is no doubt he doesn't get it!
Lil Torch
Jan 15, 2013 7:22PM
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The statement you made have a double negative, you needed the truck for business.
Mr. Soul
Jan 15, 2013 8:21PM
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Obamanomics is all about spending more than you'll ever take in so have at it, Obamaville!
j6fapg Abbondanza (joeanyone)
Jan 15, 2013 10:13PM
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Savings can not begin to early enough, it used be in grade school they taught you about savings on a penny/cent scale and interest compounding. Now this country has become a spending society, and we wonder why most people are in consumer debt so much in this country. Children need to be educated about finances and savings and the sooner the better. By having money and not debt it can also simulate the economy.
MRHarryZman
Jan 15, 2013 6:54PM
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food chains selling you burger for $1

yet those freakin chains making BILLIONS $

 

Godisstillincontrol
Jan 15, 2013 10:54PM
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Somebody send this to our government...they need all the help they can get!

kingkat52
Jan 15, 2013 5:49PM
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paycheck to pay check with no promise for next week----Duh'Oh!

 

I owe publishers clearing house more than I can pay today or tomorrow, do not need a mortgage and cards to be sinking!

DivaNicole
Jan 15, 2013 10:31PM
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I agree with most points on saving money.  HOWEVER, I refuse to use cash to make purchases.  If something goes wrong with a product or service, and the servicer refuses to offer a refund, you simply turn to your credit card provider for a full refund in charges.  I've had to do this several times over the course of 20 years.  If, however, one is not prone to exercising caution by paying him-/herself first (mortgage, retirement, utility bills, car loans, credit payments in-full, etc.), then I recommend cash only style of purchasing.
Michael Edwards (u for real)
Jan 15, 2013 11:01PM
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Hey why not  be like Obama and The Progressives(commies​) and spend spend  and never worrie about where the money comes from!!!! Steal our country, Steal our rights, and Steal our money,go go go!!!!!!
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