A really good read, and also really great tips.
There are 4 Pillars of Successful Living that I espouse: live a healthy life, live a debt-free life, live a goal-oriented life and live a charitable life. The one I think every American struggles with is debt-free living. Our society seems to believe that one cannot exist without accumulating lots of stuff and using credit to buy said stuff. To say our people are materialistic is a gross understatement.
The latest information I read about credit card debt has the average household credit card debt at $7,327. If you average the homes that are indebted, meaning those with credit card debt, the average over doubles to $15,706. Paying the minimum payment will take approximately 24 years to pay off $15,000 with the total amount paid equaling close to $27,000!!!
For these reasons I advise everyone to cut up their cards immediately and begin an aggressive payoff strategy.
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