There are good and bad reasons why Americans have a debt issue. Things like education and health care – two of the most important parts of our lives – have reached a point where loans are essential for almost every household. In addition to the excessive cost of school expenses and out-of-pocket medical expenses, an extremely challenging economy and weak job market make it all the more difficult to avoid sinking deeper and deeper into debt.
And as if that wasn’t enough, we, at times, can be our own worst enemy when dealing with debt. Rewarding your endorphins with a shopping spree will make you feel better in the short term but only exacerbates the problem. If you are struggling to get out of debt — or still trying to figure out how you got there — the accompanying resource is a precious item to review. You may be shocked to see the size of the debt problem we have in the U.S. That said, you’ll find help in understanding why overspending occurs and what you can do to stop racking up debt and get back to a less stressful, happier life.
Though the resource below will not magically solve your debt problems and bring your checkbook and life back into balance, it is an excellent starting place. Learning how to manage finances, creating a budget, devising a payment plan with a large creditor are skills anyone can learn. Continue reading for more information.