Debt is hardly unique to many American households, especially when you consider that the average amount of credit card debt per person is $5,000.
You add that figure up and multiply it by the number of households, then factor in other debts like loans and store cards and you don’t have to be a math genius to work out that there are a lot of people carrying a debt burden through their lives.
When you don’t have access to an emergency fund, credit can quickly become your only safety net. Having a lot of debts in different places can quickly add up to some challenging individual monthly payments to find, which is why companies like Debt Consolidation USA offer one solution, to help you get a plan that will help you to get out of debt and be wiser with your money.
Moving Forward
To get a proper money makeover and be able to get out of debt, there are a few things you need to look at, which will help get things straight in your mind and also on you your personal balance sheet.
Bad Money Habits
One of the fundamental points regarding your financial situation that you need to take a close look at, is what bad money habits you might have.
Many of us view money and financial issues in slightly different ways. Some of us will bury our head in the sand and pretend that there isn’t a problem and others will spend all their time worrying about their finances and their psychological health can suffer as a result.