The processes which combine, to create credit card debt come from a number of alternative sources, which appear innocent enough when explored on their own. But keep in mind, when amalgamated they end up in a tangled web, which conspires to entrap the debtor into a veritable sea of debt. In a situation where you are interested in learning the secret behind credit card debt, and figuring out how to escape from this debt, then continue on to learn how to break through the secret behind credit card debt!
2. The processes which combine, to create credit card debt come from a number of
alternative sources, which appear innocent enough when explored on their own.
But keep in mind, when amalgamated they end up in a tangled web, which
conspires to entrap the debtor into a veritable sea of debt. In a situation where
you are interested in learning the secret behind credit card debt, and figuring out
how to escape from this debt, then continue on to learn how to break through the
secret behind credit card debt!
Credit card debt has a habit of sneaking up on you. At the outset you may pay
little attention to the fact that things are starting to get out of control, however,
keep in mind as time passes more of your expendable income is ending up paying
for your little plastic friends. Then some fine day, you make up your mind to take
an in-depth look at your credit card bills, and to your astonishment and horror, you
realize that your credit card debt is spiralling out of control.
For a little while you happen to stabilize the situation by getting yourself another
low interest credit card, most likely one which has a zero percent transfer fee, for
the first six months. However, keep in mind, that all too soon this original rate will
run out and so too this card will end up on the big interest rate, and so the debt
begins to increase again.
However, this time it is higher than before due to the fact that you have been
relying on your cards to make more purchases during this time span. Around now
you may even have contemplated taking out a credit card debt consolidation loan.
Conceivably you have even investigated taking out such a loan, and find yourself
back right back where you started after a year or so after taking out the loan.
Now if this description appears familiar to you, if you have a few credit cards and
basically just don’t seem to have what it takes to free yourself of them, then you
are not on your own!
The Secret Behind Credit Card Debt
The argument why you, just like so many people, are mired in credit card debt
relates to a few components which manifest to be a great secret because they are
infrequently spoken of, and even less people understand the ramifications of these
considerations. The secret behind credit card debt, and why you just like lots of
people are in the mire of credit card debt, is a result of the ensuing list of
elements:
• The “buy today and pay back tomorrow” lifestyle.
• The “do not accept any responsibility attitude”.
• Double digit interest rates on credit cards.
• Extremely low minimum repayments.
The Secret Behind Credit Card Debt – Copyright 2012 – http://www.CreditCardDebtSecrets.org
3. Simply put, the secret behind your credit card debt lies in today’s societal
emphasis on the “buy today and pay back tomorrow” style of living.
Within our present World culture, we are constantly persuaded into making
purchases and financial decisions focused upon keeping up with the Jones’s, in
preference to living within our financial means. Additionally, it is compounded by
the “do not accept any responsibility attitude”, which is the outlook at which
point we put blame our problems on everyone else!
It is this attitude, which is so dominant today, and which makes us feel like a
victim!
Characteristically, when we buy into this behaviour we remove our own power,
and when applied to credit card debt, it is this type of thinking which has us
signing up for a new credit card or credit card consolidation loan, instead of
making improvements in our lifestyle instead.
Best Methods to Lessen Credit Card Debt by
Paying Well Over the Minimum Payments
In the event, that you have been contemplating how you can decrease credit card
debt, and then you will find that there is a great deal of choices available for you.
Some of the most notably accepted directions to reduce credit card debt is
budgeting.
One of the single best performing budgeting methods comprises paying out a
higher rate than the monthly payments on your credit cards, each month. If by
chance you have been considering the best methods to diminish credit card debt
by budgeting, then do bear in mind this exceptionally valuable debt cutting
method.
As soon as both of these two mind sets (the “buy today and pay back tomorrow”
lifestyle and “do not accept any responsibility attitude”) are combined with our
little plastic friends, with their double-digit interest rates and their low monthly
repayments, it places us decisively into the credit card debt roller coaster!
Due to the fact that the minimum monthly repayment is constructed to keep us in
debt, it can take anywhere from 7 to 20 years (depending upon the credit card) to
pay off a credit card, on the minimum payments! And for all this, while the
interest is accumulating, most credit card holders simply keep on opting to buy
new things on their credit cards!
That is the secret behind credit card debt, and that is why, regardless of
how actively you try, you just really cannot get away from your credit card
debt. The system is not in your favour as it is designed to keep you in a victimized
buyer role, by which you just stay tagging along, making minimum repayments
and praying that matters improve by some means.
The Secret Behind Credit Card Debt – Copyright 2012 – http://www.CreditCardDebtSecrets.org
4. Inevitably the roller coaster has to stop dead, all because in the long run when
factors really get out of hand you, similarly like a good many other people, you
come to a stage in which it is no longer possible for you to make good on the
monthly repayments, and instead you find yourself defaulting on them!
This Isn't The End!
Fortunately, this may not be the end. As a matter of fact it might even be a new
beginning.
If you've now found yourself sunk deep in credit card debt, then don't ever lose
faith! What has been maintaining you in credit card debt is not actually mystical or
magical, and similarly to most situations in life, there are explanations at hand.
What has definitely made you a prisoner of credit card debt is the big secret, a
system of debt mixed with poor financial attitudes which maintains your
indebtedness! However, as noted before, the debt is a side effect of the society in
which we live, and even though it is unbearable to find yourself in credit card
debt, it is possible for you to beat it and to stay clear of it forever.
Should you notice yourself in falling into credit card debt, then the initial step
means becoming aware of your situation and taking positive action that helps you
to get out of credit card debt.
The Secret Behind Credit Card Debt – Copyright 2012 – http://www.CreditCardDebtSecrets.org