Good times are when people make debts to pay in bad times. – Robert Quinlan

Robert Quinlan is an investment advisor, a real estate investor and developer in the tri-state area since 1971.

If you are one of those people who likes to spend money on entertainment and personal tastes, you know that this can be a great pleasure and sometimes even difficult to give up. Experiencing consumerism can be a double-edged sword, because once you try the ways you can spend your money, you may feel that you don't want to stop because of the rewarding feeling it gives you to acquire things or have a good time out.

Sometimes this can cause you to go over the line, and with the ease and comfort that credit cards give us, dare to feel that it is still possible to have more, even when you may have actually gone over your limit and spent more money than you should have.

Imagine a credit card is someone granting you a favor to buy something you can't afford now but can easily pay off in the future. Well, the reality is that you simply end up owing more and owning less.

There are several reasons we accumulate debt, like paying for unforeseen emergencies or unemployment. But most often, debt is a result of wasteful spending habits, because unless you're spending cash, it's costing you money to spend money.

It's important to always try to maintain an active awareness of what it means to spend large amounts of money each month, and even get into debt that may give you a great feeling at the time (for whatever reason you're doing it) but can bring you discomfort, and that's when we call it "bad time" by the moment you have to pay.

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