Monday, October 10, 2005

We Are Spending Our Way to Poverty, Says Yaya-Marketplace

Stress from debt is one of the leading causes of divorce, suicide and family violence. Personal bankruptcy is at an all time high.

Ft. Worth, TX (PRWEB) October 10, 2005 -- Yaya-Marketplace has opened the door of hope for millions who struggle in their search for financial freedom by providing a recent top ten list of factors that contribute to creating debt problems.According to figures released by the United States Government, the national consumer debt reached an all time high of one trillion dollars in 1999, and there is little doubt that this staggering problem has escalated dramatically over the past 5 years.

The weight of growing debts upon each of our shoulders gets heavier daily and will become a load that we transfer to the shoulders of our unborn children and grandchildren in decades to come. Our debt problem will become their slave master and jeopardize their financial freedom beginning with their first birthday.How can we stop this national economic hemorrhage?

Yaya-Marketplace ( contends that we must first recognize that the national consumer debt is only a symptom, not the real problem. There are 10 problems that the most casual observer can and must identify:

1. Instant gratification arguably is one of the leading causes of debt accumulation. Buying impulsively in absence of intelligent buying should be avoided at all cost.

2. Spending beyond one's means to maintain or create a desired public image is a driving force with which we all contend.

3. The allure and easy access to credit cards is a temptation that many can not resist. The average adult receives 8 credit card solicitations a year.

4. Protracted or catastrophic illness accounts for a growing number of personal bankruptcies or need for financial assistance.

5. The inflationary cost of living index hits fixed income individuals or families with a challenging decision to trim their expenses or face financial crisis.

6. Investment choices that have negative results erode if not completely decimate present and future financial solvency.

7. Divorce is a major factor dictating division of family assets and undermining the financial integrity of all parties involved.

8. Unemployment digs deeply into retirement funds and increases the demand to resort to lending institutions for bridge money to survive until employed once again.

9. Financial advisors suggest that each family unit should have an emergency fund that is equal to a minimum of 3 months expenses. Many have no such fund and face immediate monetary crisis when emergencies arise.

10. Waste is a culprit we rarely acknowledge. But waste of water, electricity, gas, food, etc are in fact methods for burning cash that is lost forever. Stopping careless waste is one of the fastest ways to reduce expenses.This problem related to debts is a pervasive one and not just a few isolated cases. Almost one-half of the households in America have trouble paying their bills.

At least 1.3 million filed for bankruptcy last year, and an average of 1 out of every 50 will do so this year. It's a vicious cycle. People spend to relieve stress, but their careless spending actually contributes to and increases stress.

The cycle must be broken in government and the private sector. It must be done or we are spending our way into poverty.For additional information and a credit repair/ debt solution plan you may visit Yaya-Marketplace at


Post a Comment

Links to this post:

Create a Link

<< Home