Spend money or pay the debts
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?
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.
• 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.
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.
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
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.
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.
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
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?
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.
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.