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Rob Peter to Pay Paul

We've all heard the expression, " Robbing Peter to pay Paul." What does this mean?

The idiom rob Peter to pay Paul goes back at least 600 years, and possibly longer. To rob Peter to pay Paul means to take take money from one source to give it to another. Usually, robbing Peter to pay Paul means taking the money one would pay off one debt to pay off another debt. It is a situation where there is not enough money to go around and one must choose which debt is more urgently in need of payment. The idiom rob Peter to pay Paul was considered a proverb in 1450, which points to an even older origin. Why this Method doesn't work It may seem like the only option in a financial emergency if you have poor credit and no savings. Your emotions are high and your nerves are bad, But it can do a LOT more harm than good - and there are definitely alternatives. Borrowing money from high interest payday , car title, or taking out an equity loan is not a good idea normally because of the snowball effect. You will never see the light of day because you are in constant continuous debt.

Your Emotions

Emotions are tied to your financial situation. You have you learn how to control your emotions and detach them from your spending habits. Very similar to emotional eaters have to learn how to be cognative not to grab twinkies when when they are going through emotional stress or just because someone hurt their feelings. You simply cannot make sound decisions in any aspect of your life while in an emotional state. You will only focus on the problem and not the solutio (s). How to avoid needing a payday loan in the first place

BE PRO-ACTIVE. NOT REACTIVE. Don't wait for things to get bad to finaly give your finances some attention. OVERCOME the Lack Of Savings. It will take discipline, sacrifice, and commitment on your part. To avoid getting into more debt to pay off bad debt is to become self-funding. Start with 5% of your income and work your way to 15-20% of your income as you begin to stabilize your financial situation. You can either make excuses here, which will solve absolutely NOTHING, or make an attemp to help yourself.

Check your budget. There always are areas where you can shave a few dollars free and create extra cash to apply to the debt. Less eating out, Take your lunch to work every day, watch the movie or sporting event at home, skip Happy Hour at the club, TURN OFF CABLE. It is difficult, if not impossible to gain control of your finances unless you have a budget. People think it’s too much work until they get $20,000 in credit card debt and wonder how in the world that happened! Don't cry about why you are getting denied loans, why you can't qualify for a mortgage, or why the system is holding you back. If you don't take the time to budget and refuse to learn how to make the system work for you, point finger at self. You gotta eat that.

Get a side Hustle. You maybe having a cashflow issue. Meaning you got in more debt than what your income can handle. This means you may need to add a source of income. This doesn't mean taking money from your parents and grandparents. This doesn't mean losing money to get rich quick schemes. it most certaintly doesn't mean getting talked into white collar crimes as an quick easy fix to your problem. it meand get a 2nd job, sell homemade cupcakes, have rent parties, sell candy bars, and all of the other creative things the older generations did before technology made people lazy or dependent.

Go shopping with a list. A grocery store or shopping mall is a dangerous place when all you take is a credit card. Make a list of what you want. Only buy what is on the list. Get in, get out. Name brand doesn't always me quality, and you have no business trying to impress people, who may not really like you in the first place, with material things that depreciate in value. Fake it til you make it doesn't work here.

Find Credible Sources. Stop Listening to Fly-by-night tax preparers, imitation financial consultantsand credit repair specialists , day trading guru's who don't know basic economics, can't read financial statements, and like to borrow money from you for their trades. It's ok to tell your friends and family "NO" to the get rich quick schemes.

Get some help. If you are still flummoxed by debt, find a nonprofit credit counseling agency online and go through one of their free credit counseling sessions. They help you sort out your problem; help you set up an affordable budget; and advise you on which debt-relief option best suits your situation. The counselors are trained and certified so The greatest thing about it is that it’s FREE!

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