What is the Second Costly Emotion That Keeps You In Debt?


By:Michael A. Cibik


It’s hard to knock stubbornness, even when it keeps people doing foolish things. After all, stubbornness, the drive to finish what you started, is often a virtue.

I’m talking about the attitude that says “these are my debts, and by d***n, I’ll get them paid”. Honorable, but not rational. See how long it takes to pay off a modest credit card balance by paying the monthly minimum.

Life is about choices, and the choice to keep chipping away at a Mt.Rushmore of debt means usually that some other, real and important need goes unmet. The greatest of these neglected choices, in my world, is retirement savings.

Cultivate stubbornness as a virtue, and the questionable choices of the past poison your future as far as the eye can see.


Michael A. Cibik, Esquire

Michael A. Cibik is a partner at the Philadelphia law firm of Cibik & Cataldo, P.C. He is one of the few bankruptcy attorneys in the Philadelphia area certified by the American Bankruptcy Board.

If you or someone you know is having financial problems, stop worrying and call Michael at (215) 735-1060 for a free consultation.


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