10 Ways to Slip into the Debt Trap

by Frank Kerkau on September 6, 2009

  • Buy on credit as much as you can.
  • Pull out all the stops for liquidity improvement (e.g. overdraft, credit card, trade credit).
  • Spread your debts.
  • Calculate without buffers.
  • Protect your investments by borrowing.
  • Trust your employer.
  • Believe in your health.
  • Don’t consider fluctuations of interest rates.
  • Believe in increasing markets.
  • Ignore any outstanding accounts.
  • Important: Don’t talk about your money problems with creditors!

You should combine several points with each other for better impact.

Photo: © Rike / PIXELIO


10 Steps to Become a Trustworthy Debtor

September 5, 2009

Pay. Pay more. Pay even more. Pay even more than that. Pay when you don’t want to. Pay when you do. Pay if something is due. Pay if don’t. Pay every day. Keep paying. Inspired by Copyblogger – „10 Steps to Becoming a Better Writer“.

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