Budgets. Collection agency agreements. Credit card negotiations. Debt reduction plans. Canceling cable. Eating Ramen Noodles for the rest of your life. These tips are all part of the getting out of debt echo chamber. Forget all that. What if there was one thing you could do to get out of debt? One thing that, if you stuck with it for an extended period, would truly help you get debt free? David Bakke from MoneyCrashers states that, yes, getting out of debt boils down to one principle…

“Understanding the difference between wants and needs with pure objectivity.”

What the heck does that mean?… Read the rest