Is debt a tool to prosperity like many have said or debt just a way to develop bad spending habits and quickly loose control of your finances? How about the term, ” you need to spend money before you can make money”? It’s these type of myth’s that had people reaching fro their credit cards without even giving the idea of using a prepaid debit card a chance. You can get a lot more with a credit card and you don’t even have to have the money in order to spend money! Unfortunately, this is the concept that took our country into a recession.

It begins with the strategic marketing plans of businesses who made people believe that if they purchased more things then they would find happiness. This developed into convincing people that they would be happier if they had more status, and the only way to get to a higher status was to have more things. Other marketing plots were constructed to make people believe a certain product would bring so much pleasure and enjoyment to one’s life that they should do anything they could to pay for it, no matter how big the price tag was.

Next let’s look at the how the banks spent billions of dollars each year trying to make us believe that we needed to borrow more money. The marketing strategies banks used gave us instant gratification by showing us that we could buy whatever we wanted right away, even if we didn’t have the money, and we could just pay for it “later”. This sent consumers into a spending frenzy because nothing seemed wrong with spending money they don’t have, on things they don’t need. The idea of paying for it “later” was just a whisper, pushed to the back of their minds.

Being in a constant state of debt meant people never understood the distinction between wants and needs. When “later” finally came it was time to pay up and our debt became a reality, but where was the money? It wasn’t there because we never had it in the first place! So what was the solution? For many, it was to spend our way out of debt. Unfortunately, lenders were willing to let their customers continue to fall deeply into debt. But where were the banks getting all this money from? When banks ran out of money, and everything came to a screeching halt. That’s when the country felt the crushing impact of government bailout. This sent our country into a tailspin of recession that the government is still trying to spend its way out of.

As consumers we lost our cars, homes, credit, jobs, and our lives as we knew them. All the while the solution was always there. Don’t spend money you don’t have in the first place. It’s a simple idea but it works. Using cards like a Ready debit prepaid debit card is a way for people to be in control of their financial situation.

The truth is debt brings on enough risk to offset any advantage that could be gained. With all the companies trying to convince us to spend more money in order to be happy, we have forgotten that being debt free will actually bring incredible peace and tranquility in life. Getting accustomed using prepaid cards, and not spending money you don’t have is a much safer way to develop spending habits. In the end you can’t put a price on the peace of mind it will bring you to be debt free!

Learn more about a safer way to spend by using a prepaid credit card. Go to www.readydebit.com and let Ready Debit put you on the path to financial stability.