Credit Card Debt

If you find that you need to use your credit cards to buy your groceries, pay your water and electric bill and you can't pay off the debt at the end of the month, then you may be living beyond your means. This may be the time to meet with a debt counselor to help you with your finances.

If you are using shopping as a form of therapy for yourself, or your addicted to clothes, shoes, craft purchases, and you can't pay off your monthly credit card bill, then it may be time to reexamine your values and goals list. Is your spending in line with your goals? Is it in line with your values? The interest rates on credit cards are high and if you miss paying the minimum amount once or are late with the payment, those rates generally are increased to an exorbitant amount.

If you have credit card debt and your spending is on non essential items, then come up with a plan to pay at least the minimum on each card. Take the card with the highest interest rate and pay extra on that card until it is paid off. Then do the same thing with the next card with the highest rate. If you can consolidate the cards to the cards with the lowest rates, then that is a first step that should be taken. Meeting with a debt counselor may be a good idea as they can help you with budgeting and truly understand your financial situation.

It would be very difficult for me to live a life of gratitude, if I felt weighed down by debt.