It is so easy to fall into the debt trap. We want what we want and when we want it. Not having the money to pay for the things we want (not need) is not a problem anymore for most people.
Since the 1950s’ when it is said that the first credit card was used, we have been able to acquire goods and services without the cash to pay for them. That credit card was the Diners Club credit card. Only 2% of families that were considered in a lower income group had credit cards like that one in the 70’s compared to 28% in the late 90’s.
Folks in what was considered a higher income level have tripled their credit card use from 33% in the 70’s to 98% in the 90’s.
Avalanche!!! And we are not talking about the type that reduces debt either.
The buy now, pay later mindset has wreaked havoc on families for decades and is getting worse! Today in 2024, most people in America cannot handle a $400.00 emergency without a credit card!
It is time to stop the madness and start taking care of "YOU Inc." Your finances are not going to fix themselves, we all have the power to become debt free and start building wealth, no matter how old you are. Wealth looks different to everyone.
You have to start!
Getting started is the hardest part. Shame, guilt and other negative emotions creep in when you start the journey back to where you need to be. It is no coincidence that these feelings creep in to your head while you are cleaning up your life, but not during the landslide.
The Devil is busy!
You must start to finish. Take the first step, assess your financial situation taking into consideration all debt, savings and income. This is where you must be brutally honest with yourself and kill all self doubt and self sabotage.
We have the power to do this!
START!!
