12/03/2023
What’s your credit card debt?
FB friends - A report by TransUnion found that the average credit card balance was $6,088 in the third quarter of 2023 — a 10-year high.
Why would anyone spend $ they don’t have????
On a credit ..You’re also paying as much as 25% more $ for that loan from the credit card company!
When we used cash 💰
to buy everything…
You couldn’t go into debt …
When we bartered services you traded your time and talent for something you needed…
So being useful was a necessity for survival as an early settler that needed to cut trees and build their log cabin, and hunt for food or plants to live.
We have lots of conveniences now but the same rules apply in economics…
2024 goal #1 should be a zero credit card balance every month !
We can’t always control our circumstances, like a medical condition or a big economic shift including the real estate crash 2006-2008. I personally lost over a million in real estate and hit rock bottom …zero net worth during that period when banks and car companies got multi million dollar bailouts from the government.
After years of working, saving, investing I was back at ground ZERO financially and had to rebuild
Living in debt results in stress and will adversely affect your relationships with family and friends.
It takes determination, discipline, and effort but ANYONE can achieve a debt free life.
YOU CAN DO THIS:
#1. Spend less than you make
#2. Remember the piggy bank
(Put something away each week for a rainy day…it’s going to rain!)
Please be responsible with your holiday spending….
Your family and true friends love you more than any gifts you buy for them.
Wishing everyone a blessed holiday season. Keep kicking!
