The Seven Deadly Sins That Lead to Debt is an interesting article by Sheyna Steiner that was published on  Wednesday, February 27, 2008 at bankrate.com and referenced in the Yahoo Finance section.

The premise is that the 7 Deadly sins lead us into debt, and create a hell for us not just in the afterlife, but in this life. Only my avoiding temptation can we get ourselves out of debt and direct our discretionary cash in the direction of worthwhile financial goals.

So, just to remind you, the 7 deadly sins are:

 
Envy

Pride

Sloth/laziness

Anger/Wrath

Greed

Gluttony

Lust

 
You can kind of catch the drift, can’t you. These motives provoke you into going over budget, running up credit card debt, and staying in that debt.

 My favorite part of the article is a truly giggle-worthy moment in which they point out that Americans spend an estimated  $10 billion to $13 billion on adult entertainment, mainly thanks to the internet, and that money could be better spent on retirement accounts!  They do have a point, but in our immediate gratification based society, I doubt they are going to want to interrupt their cycle of porn consumption or addiction to worry about their retirement!

 
Still, it is very useful article that should help you take a look at your own spending in a whole new way!

 http://finance.yahoo.com/banking-budgeting/article/104501/The-Seven-Deadly-Sins-That-Lead-to-Debt 

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