Dealing with Credit Card Debt
Our culture of consumerism fueled credit card debt - we loaded up the credit cards and thought nothing of it.
We could not see that we were leveraging our futures and willingly selling ourselves into debt slavery for instant gratification.
We find ourselves going off to jobs whether we love them or not because we have to service our debt - there is the mortgage payment and car payment that we don't even think of as debt they are so much a part of our lifestyle.
And then there are our credit cards...
Dealing with Debt - read more here:
Dealing with Credit & Debt
Why pay so much more with a credit card?
Most of us don't learn about credit and debt, or personal finance in school or in our home life. We don't have the knowledge to make intelligent, informed decisions.
Sadly, we think in terms of being able to make the minimum payment - the minimum payment the credit card company asks for covers little more than the finance charges and interest. Only a small amount goes to the balance.
We are forever in debt, often for luxuries and impulse purchases that have been consumed and forgotten long before they are paid for.
But the debt is still there, accruing interest and finance charges at an alarming rate. And because we can still make the minimum payment, we are not alarmed.
Some of us are just treading water on any given day between housing, insurance, living expenses. Suddenly an unexpected life change knocks us off our feet.
If we have taken on credit card debt, in addition to financing a car, or buying a house, we can easily be knocked off our feet when something comes along - like divorce, illness, loss of a job. These things happen to just about every one at one point or another.
But, what then? If we are living paycheck to paycheck and the paycheck stops, we are screwed.
Focus on your Dreams, your Goals
Prosperity is Freedom - freedom from fear, freedom from debt, and freedom from having to do any thing you do not want to do because you have to service a debt. Put an end to DEBT SLAVERY.
Knowing the kind of life that you want to live will help you to keep focused. Then it is easier to resist the constant bombardment of commercials and other brainwashing about the lifestyle that marketers are trying to sell you. You will be less likely to "impulse buy."
Money is our friend, our servant, a unit of energy to be used like the food we eat to build our happiness. We want to use this energy like we use food to be healthy, happy, satisfied - to lead "full-filled" lives.
Carrying debt limits us in being, doing, and having what we want.
Choose freedom. Enjoy your life Now!
In Ask and it is Given, the book from Esther and Jerry Hicks on the Teachings of Abraham, Abraham offers a process for aligning our energy with abundance, and releasing and paying off debt:
Process #19: Releasing Resistance to Become Free of Debt. This is a game of prioritizing debts and then paying them off one by one, while basking in the freedom and pure positive energy.
Learn More or buy the book at
Use credit cards responsibly.
When you get the card you never anticipate the divorce,
illness, or unemployment that will suddenly make it difficult to make the
payments. Keep only one card and use it cautiously.
The Art of Abundance - Paula Langguth Ryan
Paula is the best selling author of
Bounce Back From Bankruptcy and other
resources for dealing with finances. She is a personal finance coach,
author and public speaker and her web site is loaded with free information
and a variety of tools such as:
1. Carry only one or two major credit cards, and avoid using the full available credit line. Remember that credit card purchases are more expensive than cash or check purchases once interest and other fees are included. Use credit cards sparingly and wisely. [Remember, you promised yourself it was only for emergencies? Keep to that.]
2. Pay off all balances in full every billing period, or pay as large a portion of the remaining balance as possible, making the largest payments toward the card with the highest interest rate. Always pay more than the minimum, if possible!
Read more about dealing with debt.
(For a comprehensive guide to low-interest credit cards, no-fee credit cards, and secured credit cards)
Federal Trade Commission: Publications Division
National Foundation for Consumer Credit Counseling
Another resource for information on credit cards and debt is the Motley Fool. Every one knows about the Motley Fool and investing advice. But they have gathered information on all sorts of financial matters.
Motley Fool Credit Center: http://www.fool.com/ccc/debt/debt01.htm
Got Debt? Here's Help
Getting out of debt and staying out is simple: Spend less money than you make. So why is something so simple so hard to do?
If money problems are nipping at your heels, or if an overwhelming debt burden is pushing you to the edge of financial disaster, you've come to the right place. There are a lot of Fools rooting for you. The following resources are at your disposal:
The Dynamics of Debting and the Shame it Creates by Joan Sotkin, www.prosperityplace.com
"...the majority of Americans are in debt. So is our country. Our entire economy is based on debt. I also know that many people suffer, as I did, from the pain that debting often creates. ... If you owe money, think about the feelings that it brings up for you. Rarely does debt create uplifting feelings of joy. Debt usually creates feelings of heaviness, darkness, fear, longing, sadness -- and shame. These are feelings you have buried inside of you that you are acting out through your debting." [Read the article, or download it free, at www.prosperityplace.com]
by Michael Angier
Financial independence, by its very definition, means to not be dependent on anyone or anything for our financial needs. That requires being free from debt.
Just imagine what it would be like not to owe any money? When asked what they would do if they won the lottery, people say they would pay off their debts.
We’d all like to be free from owing money. But something has happened to us over the past couple of generations—we’ve come to accept debt as just another part of modern life.
It doesn’t have to be that way.
Read the full article at http://successnet.org/articles/angier-findependence.htm
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