The dangers of having too much credit card debt

Hello-

Credit card debt is perhaps the largest reason why so many of us go into the hole every day of the year. We have begun to use our credit cards for everything from gas to food to very expensive toys that all our friends have so we have to have them to whether we can afford them or not.

Why not charge it?

Credit card companies encourage millions of us to spend money that we don’t have. Many people see a $10,000 credit limit as a target, and assume that they have been given an extra $10,000 to go mad in the online gadget shops and blow the money with very little consequences.

But there are consequences.

Very expensive ones.

“Financial analysts state that Americans are in, possibly, the worst financial shape than they have ever been. One of the main factors of that is the overwhelming debt that many families have put themselves in…”

The bad thing about getting out of debt is not easy, while getting into debt is no problem at all.

Heck, give me a credit card with a $10,000 limit and I’m sure I could spend it online in less than an afternoon.  Or give it to my girlfriend and she could blow it all at the Tiffany site in less than an hour.

The process of paying off your debts requires commitment and discipline on your part.

And if you never get out of debt, you will probably never have enough money so you can retire or pay for your kids college.

With a mountain of bills that you never pay off, you will never be financially independent and free to do whatever you want to do.

You will always be under the credit card companies control and you will have to answer to them.

You will never have the power you so desperately want over your life.

Do you want power over your life again?

Make the choice to get out of debt starting today.

-The Credit Blogger