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Are Your Friends Keeping You In Debt?

Are Your Friends Keeping You In Debt?

It’s a lesson you probably learned very early in life: some people help you up, and some people knock you down. That lesson holds true for several scenarios – including your financial situation. If you find yourself strapped by debt, and can’t seem to get out of that “buy now, pay later” mentality, keep a watch out for these people in your life that could be influencing you to maintain those bad habits.

The guilt-tripper

This friend seems to always be having a good time, is always looking for company, and doesn’t like being turned down. After all, who wants to take a 3-week vacation to Hawaii alone? Unfortunately, this friend really lays on the pressure and doesn’t hesitate to let you know much fun you will miss, how hard it will be for him/her to go alone, all of the fun activities that can only be done with multiple people that you will ruin, how it’s a once-in-a-lifetime opportunity, how you only live once… you get the gist. Their guilt game is strong.

The “get rich quick” claimer

There are a lot of people who make money off of other people’s desire to make money. You probably have at least one friend who’s always trying to convince you that they can make you a millionaire by age 30, that you can work from home making passive income while never changing out of your pajamas, or that it’s early enough in the game that if you get in on it right now you’ll be on top in no time (and all it takes is a monthly payment of $XXX that you’ll earn back once you recruit X number of people yourself).

Have you noticed that this person has found several of these golden tickets, and none of them ever seem to deliver?

The couch surfer

What about that friend who always seems to be “crashing” with a friend or family member while they get on their feet, or find the right job, or save for their own place, or {insert other excuse here}. Sleepovers were fun as kids, but when you’re in your late twenties and still asking to borrow a toothbrush, there might be a problem.

The “show off”

It might be hard for you to see your friends or other peers your age driving luxury cars, taking cushy vacations, and wearing expensive clothing while you’re still hustling to pay off your 5-year old Honda. But if you were to take a deeper look, you would probably see a less-pretty picture of debt and distress. Success isn’t worn or driven, it’s saved and secured.

The false authority

Perhaps the toughest people to ignore are those who seem to have knowledge and experience but will lead you astray. Parents, aunts and uncles, professors, bosses – they are probably well-intentioned, but if they are encouraging you to go into debt or even saying that it’s 100% necessary, they probably aren’t the best authority on the subject of financial responsibility.

When it comes down to it, nobody can force you to be in debt. But if you realize you have a hard time dealing with and standing up to these types of people, maybe it’s time to make some changes to increase your self-confidence and ability to stick to your guns.

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