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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74Comments
ImToBlame
Jan 18, 2013 9:21PM
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Wow. Heck of a list you got here, Richard.

MadMadMax
Jan 17, 2013 6:23PM
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Talk about debt denial..the biggest offender is the US government,right on up to the President!
 The only difference between them and us is the government is spending OUR money! Instead of coming to grips with the overspending problem,their answer is to...print more money. Now,they have the rest of the world doing the same thing! Print print print...who cares if there is nothing to back it up. I cannot see how this behavior will do anything but dilute everyones personal wealth. Then what?  I use to think holding gold was only for the wealthy and banks.Now,I believe it is the only way to secure that you will have some sort of asset left in the future that is worth more than toilet paper. I hate to be a pessimist..but it is what it is..
jobcoachusa
Jan 16, 2013 9:29AM
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Stop using your credit cards and pay cash..you will see how quickly you are out of debt and
do not "overspend"...you will be happy when you see $$$ in your savings acct !


dannie mcdonald
Jan 16, 2013 3:24AM
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I could write a freaking book about this topic...where to begin....save money every chance you get, stop showing people that you can buy cool stuff. There are financial institutions such as DWS SCUDDER, to name one that you can get great results. I have had investment accounts with them since I was 28 years old. I am 62 years old now. Regarding buying a home...if you are 50 years old or older and you don't alreaady own a home, don't do it now and get a 30 yr loan. You are going to pay until you are 80 years old if you make normal PITI payments. Do you want to pay a mortgage until you are 80, if you lieve that long? Please think about that. And that is a comment from someone in the real estate business for 25 years. Think about how long it will be to pay off various debts. If it is too long, don't buy the freaking thing.
Mr. Anthrope
Jan 16, 2013 1:00AM
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More obvious "financial advice" from the geniuses at MSN Money.  If you have to be told these things, you deserve to be eating catfood by candlelight and living in your car.
news or not
Jan 16, 2013 12:53AM
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Actually, it is so simple that I cannot understand those who are the big spenders. It always makes me think that there is something basically wrong with them and I dont trust any of their thinking.....all the way up to the leaders of our country.
Joseph (jb676ace)
Jan 15, 2013 11:36PM
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Why don't you start with our President, House and the Senate and teach them how to properly manage their money. Maybe we would not be in this mass in the first place. I like when the rich people always telling the poor people how to manage their money. Yeah poor people are the problem, not the money hungry millionaires that are robbing us of our savings, 401Ks, and our Social Security.

 

Michelle114
Jan 15, 2013 11:01PM
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My husband literally did everything this article said.  I jumped ship. Tired of being a parent to a grown man.  Left my spendthrift husband who then went bankrupt lost our home to foreclosure and generally ruined his life.  Some people just can't be saved.  I btw am fine.  
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!!!!!!
Godisstillincontrol
Jan 15, 2013 10:54PM
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Somebody send this to our government...they need all the help they can get!

It Really works357
Jan 15, 2013 10:49PM
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Do not be to quick to write off the site with the man holding money to as an indicator of him saving money because quite a few of us are reaping that benefit. The product actually does what it says. People are actually getting more than 20 miles extra while using the product. I am a witness. Savingufuel website product actually works and that is no joke. Even the American Journal of Industrial ans Scientific Research validates the theory through a three hour test and saw a difference in mileage efficiency and environmental benefit in GHG reduction through usage.

Do not be to quick to judge this product.

buddy miller
Jan 15, 2013 10:42PM
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IE; Romney, who's master plan was to cut spending on everything, yet spend more on making battleships.
buddy miller
Jan 15, 2013 10:40PM
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A few years ago, there was a comment, probably on fox, that likened the "liberal spending" of democrats "to that of a daughter, loose in a shopping mall with her daddy's credit card" that was of course paraphrased. 
As someone didn't mind Reagan or the First Bush the I really liked this analogy, it painted the picture of Democrats being careless and weak, and undisciplined.  They spend money of stuff they think they need, but is probably not really important.
Well, after 8 years of Bush blowing trillions of dollars, only to throw the new guy in the hole, I have my own analogy of Republican spending.

Republicans spend money like that of an Ex-Wife let loose in a shopping mall with daddy's (her Ex-Hubbys) credit card. 

Let that sink in for a moment.  Think about someone blowing money, not because there is anything they desire, nor because they want any good to come of it, instead, they are blowing someone else's money for the sole purpose of causing harm.

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.
buddy miller
Jan 15, 2013 10:28PM
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Simple yes or no...
Wasn't Bush the one who took the US from a budget surplus into a deficit?
All while not one war was going on but 2.
He was actually the first American President to make the economy worse not better during a time of war. 
I will take Obamanomics over Bushonomics any day sir.

Re-posted this as I didn't think it deserved to be buried in the "reply" section.  Cant wait to see how true conservatives will give this "thumbs down" just goes to show you how people can ignore the truth.
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.
W Te (name2008)
Jan 15, 2013 9:20PM
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How in the world are people supposed to get out of debt when there is no help in paying basic living expenses. I make too much to get food stamps, I cut down to one car to save money, but the car I have I can't afford the monthly payment, and noone wants to get me into a car I can afford, even though it will only be 50 bucks less than what I am paying, I work two jobs and still can't get ahead. My basic expenses total over 1400 a month and that doesn't include gas and food. I only make with two jobs 1200.
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.

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. 
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!
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