Some consumers are targeting all their debts, from mortgages to student loans to car loans. Reed now uses cash for most purchases. That's why consumers are drawing a distinction between unsecured debt like credit cards and secured debt like mortgages. You are living there and you are going to get something back out of it. Stanley says this new legion of debt-free consumers is on the right track, and he draws a lesson from the spending habits of the people he studied for his book.
Many debtors cling to an unrealistic view of future income, pinning their hopes on a bonus or raise.
Fortunately, many of today's debt fighters aren't waiting for disaster to strike. Calif. With that realization, having the hottest electronic toy fades in importance. The overwhelming and often unendurable stress that accompanies indebtedness is motivating many to pay off their bills. Debt can be pervasive, subtly infiltrating every facet of life. Debt leaves many people distracted and vexed.