ARE YOU DEBT TIRED?

As with other addictions, coming out of denial is usually the first step. As long as you can't admit you have a problem with debting, you will keep covering one debt with yet another and keep digging yourself deeper and deeper into debt.

Being in debt is actually a symptom of unhelpful beliefs and attitudes about money, which you may have unconsciously adopted in your lifetime. This belief system was developed from your early life experiences with money and from very powerful societal pressures. Becoming more aware of your money beliefs is your next step toward resolving your debting.

Keep in mind, the only way you came to owe money was by spending more money than you were bringing in. There were, of course, many, many reasons for spending money you didn't have, but it is a fact that you did spend more money than you had. This is the reality. You can only stop debting by spending less money than you are making. This, too, is reality.

BEING IN DEBT IS VERY EXPENSIVE

Here is one way debt keeps you in debt. You are probably well versed in the different terms offered by different major credit card companies. You may be aware of the interest rates charged on the credit cards you use. Do you also compare the "grace period" offered? This "grace period" is basically the number of days you have to pay your credit card bill before they start charging a finance charge on the unpaid balance. Grace periods are commonly about 25 days.

The grace period is great! You can buy things using your credit card during the month. Then at the beginning of the next month, you will receive a bill showing the prior month's charges. You typically have until the 25th of that month to pay the bill. Sounds wonderful! Free money for more than a month! But there’s a catch to it.

Did you know that if you do not pay your bill in full by the due date (the 25th in this example), they will calculate finance charges on the whole amount of the bill AND ALSO ON EVERY CHARGE AFTER THAT DATE UNTIL THE BILL IS PAID UP? It can be very shocking to discover this. As long as you have a balance due on your credit card you will be paying finance charges on each and every amount you charge FROM THE DAY YOU CHARGED IT! No more "free money".

TAKE STEPS NOW TO STOP DEBTING