Credit Card Debt - What’s Your Excuse?
I was talking to a friend of mine the other day. I knew he was deep in credit card debt. When I enquired how things were going with his New Years Resolution to get out of debt he hemmed and hawed and finally told me it wasn’t going very well.
They were supposed to sit down and make a Simple One Month Budget but his wife and he just never seem to get around to it. Confidentially I know it’s because he thinks if they budget their money they won’t have the freedom they think they have now to buy things when they want them. But the truth is, by having so much credit card debt they are never really free at all.
They can’t take any big, fun vacations with the kids. They want to own a home, but can never save for a down payment. And getting a new car is not anywhere in the near future because they don’t have any money to spare on a car payment.
So they fill themselves up with TV’s they don’t need, clothes that don’t get worn, etc. etc.
This got my wheels spinning because I have been in credit card debt in the past; maybe you have too and can identify with what I’m about to say. Here are some of the dumbest reasons for NOT getting out of debt.
-
Our credit card debt is all (his or her) fault. Money is the #1 reason for divorce in this country. Instead of taking personal responsibility they play the “blame” game. One of you needs to provide some financial leadership. It’s not always the man’s job (or woman’s). It’s whichever has the best head for money management. The other partner needs to cooperate.
-
Credit cards are the only way that I can get what I need. (Translated: want). What is really needed is a budget. We have provided both a Simple One Month Budget and a 12 Month Budget that are guaranteed to work if you really want to get out of credit card debt. If you are in too deep then try a credit counselor. Credit counselors will structure your debt so that you’re debt free in three years. How great would that be!
-
Spending makes me feel good. I love being spontaneous! I’m not a psychologist but I have read of people that get a high from spending. There’s also a section of people who get the same feeling from shoplifting. If you fit this get professional help. Someone once told me that they feel “free” when they spend. They are lying to themselves, they are not free, but rather a slave. Don’t be foolish!
-
If I get too deep, I’ll get another credit card with 0% and transfer the balance. Well, duh! That’s so unintelligent that I won’t comment!
-
I’m not paying “that” much in interest. Oh, really! If you run an average credit card bill of $6,000 and if that amount remains level for a year and your interest is 21% which is average for this type of person, you are spending approximately $1500 in interest charges alone! AND that’s just for one year of credit card debt. Einstein’s definition of insanity is “doing the same thing over and over expecting different results”. Still think you don’t need help (LINK)
-
I don’t think I can ever afford to retire; besides I love my work. I’m not sure our Creator ever intended us to completely retire as we see it done today. But consider what would happen to you or your family if a disaster should happen. You’ve got to have an emergency fund, otherwise you’re just one paycheck away from being homeless!
- I’ve had credit cards so long now that I don’t think I can live without them. You can and you must if you ever want to be free. There is nothing wrong with using a credit card occasionally for an emergency. However a night out is not an emergency. If you can’t handle a credit card responsibly, then don’t carry one.
Let me make a confession; When it comes to credit card debt I am no different than you, so I don’t carry my credit cards. I carry a debit card only most of the time and always know exactly how much I have in my checking account so I don’t overdraw. I know all too well the lure of “free money.” But using credit cards obligates you to spend a portion of your pay each month to pay those cards off. Money you could use for a lot of other things!
If you need help with your credit card debt we have it. Our site is dedicated to helping people with bad credit get the help they need. Don’t keep fighting month after month to just keep up with the bills. Take some simple steps right now to start paying them off completely and you’ll find that the real adrenaline rush comes from having extra money in your pocket (and bank account)!
For more credit help, please visit our site. We have been there and know how bad credit can affect everything, including your health. Take a look!
If you know someone struggling to quit smoking we found a great site that offers genuine help. You can Quit!!
Here is a great site for some wonderful Spiritual articles, short stories, plays, family stories, Bible studies etc. Check it out.
