There are three steps you must take to effect life-changing financial results: (1) Live within your means; (2) Increase your income; (3) Pay off your debts. These three items do not have to be accomplished in the order listed; in fact, it would be great if you could work on all three simultaneously.
If you are ever going to Find Joy and Peace with your personal finances you must spend less than you earn; for some of you, this will require changes in your behavior. It is said that one of the definitions of insanity is to continue to do the same thing, while expecting different results.
Reference/Resource: Mr. Dave Ramsey is an expert on the subject of personal finances. He is on the radio, television, has authored several books and has personal finance seminars and courses, all over the county, that are excellent resources. Mr. Ramsey can be contacted online or at his toll-free phone number: 888-227-3223.
To see the person who is responsible for your financial situation, please get up from your chair now and go look at a mirror. The person looking back at you is the responsible person. You can Find Joy and Peace with your personal finances – it is up to you. Only YOU can make the decisions necessary to Find that Joy and Peace.
When it comes to your financial well-being (or any other kind of well-being, for that matter), the government and the business community should not be considered your friends; it is up to you to secure your financial future. It is not that they are intentionally trying to do you harm; but they do have different goals and objectives than you.
Anyway, people being who we are (always in search of immediate gratification) and businesses being who they are (always in search of an improved bottom line) have lead us to this Perfect Storm of Consumer Debt.
This higher rate of interest (credit cards) hardly phased The Consumer ( I have often wondered if it would not be more appropriate if we called this person The Debtor‘; after all, in many, if not most cases, the item purchased on a credit card has already been consumed, such as last night’s dinner, leaving only the obligation to pay for it, i.e. The Debt).