Spend money or pay the debts

@ajithlal (14568)
India
July 11, 2012 9:44pm CST
What to do in life? Spend money as it comes and live with happiness and fulfill the wishes or pay the loans and debts and bills and reduce them as far as possible? I sometimes wonder is it good to live less comfortable with less wishes and to buy the things that we wanted later and pay the debts etc as much as possible and reduce it?
1 person likes this
13 responses
@preethaanju (3000)
• India
12 Jul 12
I wonder how you got this idea od spending and enjoying life when there are debts to be cleared. How can you enjoy life when you have debts?Its alway good and relaxing to clear our debts and then enjoy.
2 people like this
@ajithlal (14568)
• India
13 Jul 12
Thanks for the advise. Sometimes I wonder is it good to pay the loans in a long term, but now I think it is good to clear as soon as possible.
• Philippines
15 Jul 12
Pay them out as much as possible. The longer you keep them the bigger the monster they transform into. Unless you debts don't incur interests, you can put them aside first. But I doubt it that there is such kind of debt at all.
1 person likes this
@ajithlal (14568)
• India
18 Jul 12
I also think it is better to pay debts as soon as possible. I am planning to make a plan to cut down the expenses and increase the income to pay it as soon as possible.
@roberten (3131)
• United States
15 Jul 12
No brainer, pay debts first, spend money later (if you have any left, LOL). Got a new flash for ya, it is a lot easier to live on a shoestring while you are young rather than when you are elderly. Pay off debt now, live more comfortably in old age. Debt shortens life.
1 person likes this
• Philippines
15 Jul 12
Yeah, I like this one! "Debt shortens life." Plain simple quote, but gets through the message straight to the point.
1 person likes this
@ajithlal (14568)
• India
23 Jan 13
I also think it is good to pay debts first and then to spend money later.
@ajithlal (14568)
• India
4 Feb 13
Paying debts and being debt free gives less tension and also helps to buy things that we need in the future. I think the good things can wait and we can buy in the future than rushing for it.
• Philippines
15 Jul 12
As any resources or advise from successful people will tell you, you have to pay your debts first and get out of the killing interests before you can thrive the path of financial independence. If you don't pay out your debts, it will just pull you farther and farther until you will have none but an inheritance of debts for you young ones and next in line generations. Would you want that thing to happen? Anyway, pay your debts first by living well below your means. After you pay your debts and dues, save and invest. Then once you tried out investing, you can easily go for the goal of financial independence.
1 person likes this
@ajithlal (14568)
• India
26 Jan 13
I also think it is good to pay the debts and to decrease the interest and become financial independence.
@ajithlal (14568)
• India
1 Feb 13
I think if a person become financially independent he has more freedom to buy things he wanted and also have more freedom and happiness and choices regarding finances.
@natliegleb (5186)
• India
13 Jul 12
If at all you need things first,i think it would be better to spend the money and get the items and multiply the profits with that and then later resell it to make even more money and henceforth pay off the debts.it is the ideal way since we can enjoy life as well as be happy and with supplement amount of cash to be happier in life
1 person likes this
• Philippines
15 Jul 12
That is good if you can find something as sure shot as that. It will entail low risk ones which often don't pay good enough to pay off your debts. Moving over to high reward, high risk ones can backfire if you lose out sending you farther down in debt. Very tricky with that move that you are suggesting.
1 person likes this
@ajithlal (14568)
• India
18 Jul 12
I also think it is better to pay the debts because the interest will increase every month.
• India
17 Jul 12
Money is playing an important role in our life, each and every one wants it to fulfill their needs and necessities. Some times we have financial issues and borrow money from our friends, relatives or other persons for our needs. After some time we will get some money with our hard work. When we have money, we must pay our debts first if we don't have any essential spending. We must try our maximum to live our life without any loan or debts, a debt free life always give more enjoyment to us. It is easy to spend our money for our luxury, but it is really hard to earn the money. Most of us remember about our debts while we have money in our hands, but it is wrong. We must pay our debts first after that we can spend our money without any commitment. Our debts and loans are a commitment to us and we must pay it as soon as possible. We must have wishes and spending based on our financial status. Too much of unwanted spending will give more problems to us and make us to become a great debtor. We have the ability to avoid it by organizing our spending. A person who have lot of loans and debts don't have the ability to live a peaceful life, so try your maximum to avoid debts, if you have some debts based on some situation, try your best to pay it as soon as possible. It will give peace of mind to you. You will get a new energy after paid all your debts.
1 person likes this
@ajithlal (14568)
• India
28 Jan 13
I think it is also good to maximum to avoid debts and loans and to clear them as soon as possible.
@venkit (2957)
• India
14 Jul 12
surely pay the debts. the person or bank gave us money when it was needed, so we should give it back when we get surplus of money. And keeping the debt is a big burden so we should clear it as soon as possible.
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@ajithlal (14568)
• India
29 Jul 12
I also think that debt is a big burden and should be cleared as soon as possible.
• Mexico
14 Jul 12
Hi ajithail: In my case, I think that my first priority would be paying the debts because I would feel uncomfortable and stressed when I have debts. I prefer to pay them as fast as I can even if I have to make some sacrifices during a whole month. I have been always like that and it works for me. ALVARO
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@ajithlal (14568)
• India
14 Jul 12
I also feels uncomfortable and stressed when thinking about various debts and loans and now I am thinking of paying it back as soon as possible.
@o0jopak0o (6408)
• Philippines
12 Jul 12
Pay your debts first because some debts have some interests that will make your debt bigger.
1 person likes this
@ajithlal (14568)
• India
12 Jul 12
I think it is better to pay the debt and then for things we need in life.
@chiyosan (29383)
• Philippines
12 Jul 12
i think you will have to clear your debts first. of course that meant you need to finish whatever you have to settle and then you can spend the money you have. after you have cleared out your debts. i think it won't be comfortable for you too to spend and know you have debts to settle. right?
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@ajithlal (14568)
• India
15 Jul 12
I also think that it is better to clear debs and then go for different things in life. I also think that when debts are cleared we will fee better in life.
@lynboobsy11 (11346)
• Philippines
12 Jul 12
I define happiness without debts, that I can sleep at night without worries that tomorrow someone will knock at my door and ask me to pay. We can be happy without any luxurious things as long we eat three times a day and no one is sick from the family that is happiness to me. Here in my country it is very hard to have many debts specially when we don't have money to pay for it.
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@ajithlal (14568)
• India
17 Jul 12
I also think that life without debts and happiness without debts are good in life and it is also good to have debt free so that one can have a good sleep in life.
@yanzalong (10151)
• Indonesia
12 Jul 12
Pay yur debt according to the payment terms agreememt. As much as possible y not borrow any money as this will burden yourself. I know many people cannot avoid borrowing money.
1 person likes this
@ajithlal (14568)
• India
14 Jul 12
I also think some people does not avoid borrowing money. Now a days I am try to avoid borrowing money as far as possible.
@sjlskl (3384)
• Singapore
12 Jul 12
The choice is obvious. Clear your debt first. Once you are debt free, what you earn is yours. Then you can spend it whatever way you like. Remember this saying. One who is debt free is a rich person.
1 person likes this
@ajithlal (14568)
• India
14 Jul 12
I like the saying One who is debt free is a rich person. I also think it is better to clear the debts as soon as possible and spend the money in the future when one earn more.
• Philippines
12 Jul 12
I would suggest to pay for your debts first. You can live happily without spending that much and it is more fun when you live without any worries regarding your loans and your debts. You don;t need to rush on buying things you wanted.
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@ajithlal (14568)
• India
13 Jul 12
I also think that when debts and loans are all paid then I think there would be no worries about finance in life. I think one would have peaceful mind and will not have worry to pay loans and debts.