Credit Card Debt Information: Honesty is the Best Policy
The credit card debt information tells the truth and that is, that we do not really use it to tide us over an emergency situation like a layoff or a sickness in the family. The truth of the matter is that we buy what we want now when we do not have the cash for it.
Most people in the United States are in debt, so the credit card debt information tells us. In 1992 for instance, the average credit card debt per household was $8054. So it makes sense that some of us cannot afford to pay for this. But let's not think of the past mistake as this will only make us unable to face the problem head on. Just know that we are not alone.
The other credit card debt information we gathered is that people think they will pay it off the next year when they are getting more money. But often that tomorrow never comes even if we do get a raise. How many people who are making more money now are paying off their debt? More often we owe more than ever.
Why is it so important to pay this off? Because it is a form of burden we can live without. We are paying for what we need now at the expense of our future. And we are paying for something that is decreasing in value: the meals we've eaten, the clothes hiding in the closet, the vacation we took, the ipods and all those gadgets we just had to have. All of them we can sell at a yard sale for less than ten cents of the dollar they cost us.
You see, the truth hurts, doesn't it, but we have to deal with this truth or whatever we will learn here will not be applied. This is the first lesson on handling money that we have to learn. What is it? The truth will help us make more money and being dishonest about it will get us deeper in the hole.
The next lesson that will help us wipe out what we owe is to accept what we have in the present and not compare it to our past. You see some of us had bad experience regarding money and sometimes this paralyzes us into thinking that we are not good with money so to heck with it. This is not good, to say the least. What is better is to stop thinking of what could have been and start from where we are today.
Once we have mastered those two basic truths about money, then we can move on in trying to understand all the credit card debt information we will be bombarded with. Some of those are the over-the-limit fees, the fees for not paying on time and countless others that we should have dealt with when we first agreed to use a credit card.
So let’s stop treading the muddy waters that are the dangers of using credit cards. Let us stop buying things we do not need. Let us just enjoy the things we have and take care of them and they will help take care of us. I will have some practical ways of how we can do this for certain. There will be exercises to do but the benefit will be tremendous.
So to bring ourselves able to move on to the world where we can do what is right for us rather than for the money, the top priority according to the credit card debt information is to pay this off and stop this bondage we are in once and for all. We deserve better than this.