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Tag Archives: paying off debt

Can You Be Happy If You Have Credit Card Debt?

For anyone who has ever struggled with credit card debt, I’m sure you realize what a drain on your budget having to make monthly payments plus interest can cause. Since the average American household carries over $7000  in credit card debt, having those monthly payments is something many of us are familiar with. We all know that carrying too much credit card debt can wreak havoc on our credit scores, our ability to get good rates on home or auto loans, and could wipe us out if we are living paycheck to paycheck. My question today is about quality of life and if people can truly be happy when they have credit card debt. What Is Happiness? I think before we can answer that question, we have to define what makes us happy. Is it having new clothes? Is it standing in line to get the latest iPhone? Is it spending time with our family or going on a vacation? Think about the last few times you felt really happy. What were you doing that made you feel that way? Do Things Really Make You Happy? If your answer included something monetary like clothes or a new car, I would ...

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Why I Care About Financial Literacy

As you  may know, April is Financial Literacy Month. I was honored when Shannon at The Heavy Purse asked me to participate in her carnival celebrating this month. Today, I’ll tell you why I care about financial literacy and how it has changed my life for the better. If you are a regular reader, you know that up until a couple of years ago, my husband and I were swimming in debt. We are well educated, productive people. We haven’t had any crazy medical expenses or lost jobs. We simply lived above our means and tried to fill what we lacked emotionally with things. I think we felt entitled to a certain lifestyle because we went to school for a long time and earned good incomes. I also was a workaholic who had become disillusioned with my career path. I believe I spent money to try and make up for the stress and unhappiness I felt at work. We used to get to the end of the month and be out of money. We brought in plenty, but we spent it faster than it was coming in. I can’t tell you how many times I’ve cried over working myself into ...

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Paying Off Debt is Like a Winter Blizzard

The US has had some crazy weather this fall and winter. The recent snow storm that hit the Northeast dumped two feet of snow and caused all kinds of mayhem. Southwest Colorado often gets hit with storms producing that much or more snow. While we don’t generally get the media attention that more populated areas receive, we know all too well how to deal with a winter storm. Actually when you think about it, winter storms are like getting out of debt in many ways. Tropical people bear with me as I show you how a winter blizzard can be used as an example of how to get out of debt.

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Ten Ways to Turn Your Wasted Time into Learning about Debt Management Programs

Are you in the habit of wasting time? Do you want to make better use of your time? If so, then you are not alone. We all want to be productive in order to get ahead in our lives. Surely, you must be aware of the time that you are wasting and probably thinking of ways to utilize it more efficiently. Debt management programs are programs aimed at getting you out of your debt. Following are some ways with which you can turn your wasted time into learning about debt management programs to improve your financial position: 1. Browsing the Internet to Learn About Debt Management Programs There is a lot of information available on the internet about debt management programs. Instead of wasting your time thinking about trivial things, it is better to utilize your time in learning about how these programs work. These programs are aimed at getting you out of debt by scheduling a payment plan through which you can pay off your debt and avoid bankruptcy. There are professionals who deal with debt management every day, and they are available via the Consolidated Credit website.

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Things I Could Have Bought with $30,000 Lost to Credit Card Debt

  As we’re coming into the homestretch of paying off our credit cards forever, it’s kind of horrific funny if you think about the things we could have done with that money instead. Just like building savings, wealth, or a retirement fund, our debt was years in the making. I’d say it was sort of an art form, albeit a very alternative style that doesn’t receive much critical praise. I honestly can’t name one tangible item we have ownership of because of that debt. I know there were a couple of fun trips and probably some nice sporting equipment. There were also lots of restaurant meals that have long been digested and disposed of. The biggest thing we have to show for our $30,000 in credit card debt is a new understanding of how wonderful being consumer debt free will feel in a few months.  I know it is not healthy to wonder what could have been, but if you are going to put that purchase you can’t afford right now on a credit card, think about these things we could have had without our debt. A Year Abroad-I have a friend who, with her husband and son, took a year sabbatical to ...

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