Why You’re In Debt and What You Can Do About It

Why You’re In Debt and What You Can Do About It

Most Americans are in debt. Maybe you’re one of them.

Being in debt has gotten to be so normal that many people never question it. So many of us believe that debt is just a normal part of life and there is not much you can do about it.

In fact, some people even believe that having debt is a good thing.

Seriously, do you really need a ton of debt weighing you down to have everything you need in life?

No, you don’t.

In fact, I think it’s ridiculous to believe that debt is just a necessary part of life.

Being In Debt Drains You

Think about it. What does debt actually do to you financially? It unnecessarily drains away your hard earned money by making you pay much more for those things you buy with it.

When you’re in debt, you are paying money in interest and fees that could be used for things that are much more useful. Debt causes you to spend much more than you otherwise would on the things you want and need (read about how we overpaid for our car).

Ultimately, it sucks you dry financially while giving you a false sense of prosperity.

Being In Debt is a Choice, Not a Necessity

Most Americans, if given the choice, would probably tell you that it’s better to have no debt.

So why is it that the majority of Americans are swimming in debt?

Why are most people not making the choice that they know is best for them in the long run?

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Source: Crosswalk | Jason Cabler, Celebrating Financial Freedom