debt, credit card debt, debt freedom, overspending, too much debt, credit cards, debt free, cut up your credit cards

The Credit Card Debt Hangover

Debt! Tens of thousands of dollars in debt hangs over the head of a majority of families today. It is one of the major causes of marital stress and divorce. It is a major cause of heart related issues. It destroys our ability to focus on our jobs. It stuffs us into an envelope of depression! Why???? Most often, it is because we want what we want and we want it now!

Despite the recent changes in bankruptcy laws, credit card debt is a major cause of over one million bankruptcies each year. Although we all like to place the blame on the credit cards and the credit card companies, you need to keep in mind that the real cause of your financial mess is you. It doesn't happen overnight, but rather over a period of years. It is a pattern instilled in us from the time we turn 18. Recently, one dad started monitoring the credit card offers he got in the mail. Incredibly, 50% of them were for his 18 year old college freshman daughter. If she had replied and started using those cards, she would have been thousands of dollars in debt to credit card companies by the time she graduated. Who would be to blame? Not the banks. This is their business. It is the person who doesn't control spending.

What is the answer? It's easy to say. Don't spend on credit, pay cash. If you can't pay cash, don't buy it. Spend less than you make. Although it may sound simple, it can be very difficult if you have a problem with willpower. It is important to stick with spending less than you make or you will find yourself in exactly the same place as you were before. Overcoming your debt will take willpower and a great deal of time.

Figure out how to pay it down and then stick with the repayment plan. The CMG4life website ( http://www.cmg4life.com ) has some great downloads that can help you set up a repayment plan that works for you.

It is important to learn how to get out of debt and then stay out of debt. If you can summon enough willpower and strength towards your finances and spending, then you will find yourself the winner in the game of debt. It may be easy to get into debt, but getting out of debt is much more difficult, but worth it.

One simple phrase can sum up the solution to your financial problems. If you don't have the money to spend, then don't spend it!

debt, credit card debt, debt freedom, overspending, too much debt, credit cards, debt free, cut up your credit cards