Get Me Out of Debt
I hear this question often, Julia help get me out of debt! This question is become more common today as the credit card companies are putting the squeeze on debt holders. From increasing penalty fees (late and overdrawn accounts), to increasing interest rates, the credit card companies excuse is that they need to maintain a level of profitability, and because more and more people are falling behind on credit card payments, the companies are losing more money than they ever have in history.
The problem with this is that while I do believe consumers are responsible for their own spending habits, and buying things which they cannot afford, I also hold the credit card companies liable for extending credit to people that they shouldn’t have.
If you really want help getting out of debt, then I suggest getting a handle on your monthly expenses to get an clear understanding of how you got into debt to begin with. If you do not get to the root of the problem, all the debt solutions provided will be short lived, because you will end up back in debt again.
photo credit: charlottel
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