Debt: The New Normal
Nowadays, it’s pretty normal for most people to have a certain amount of debt. From school loans to credit card debt, there is a vast array of places that people owe money to. Sometimes, it’s necessary for you to get into debt. For example, if you’re taking out loans to go to school, that’s often a justifiable debt. After all, getting a degree is likely to help you to get a better job. At other times, the things that make people get into debt don’t seem as justifiable e.g., a new car when the old one was still in good shape. At Christian Credit Counselors, we’d like to help you to resolve your debt issues. But we’re also interested in helping you lead a healthy lifestyle where you won’t get into unnecessary debt.
Admitting to Financial Problems
The first step towards healthy finances might be admitting that you have a problem. For most people, this isn’t the case. You might be in debt because of a serious illness which led to many medical bills. Or you might be in debt because of unavoidable school loans. However, if you do have a problem with impulse purchases and you’re constantly going over your budget, you can get help. There are many support groups out there for people like you, and you are not alone.
Obviously, the basics of budgeting are simple: don’t spend more than what you earn. Still, with credit cards at your disposal, it’s hard to stick to this rule. And often, people just don’t keep track of how much they spend. So it’s necessary to sit down every month and figure out what you’ve been spending your money on. If you find that you made frivolous purchases, don’t beat yourself up. Just return what you bought, if you can, or make sure that you stay away from such purchases in the future.
Given that people are often in debt from various sources, you may need debt consolidation. With Christian Credit Counselors, you can reduce your interest rates and pay off your debt faster. We’ll sit down with you and come up with a plan for paying off everything you owe. Right now, you may be struggling to pay off cards with high interest rates. You might feel like you’re not getting anywhere. But with debt consolidation, you can come up with a plan whereby you’ll pay off your debt and gain financial freedom.