In Debt?

Over the years, I have seen a variety of businesses with all sorts of financial situations. Unfortunately, a common thread, no matter what type of business, is credit card debt. Statistics tell us that an average family owes $9205 on their credit cards. That does not include any business debts.

Credit card companies purposefully increase your limit in hopes that you will send in a payment late, go over your credit limit, and not pay attention to the percentage rate that they charge. They offer incentives and rewards to lure you into their programs. They receive 31% of their profits from fees they collect.

A good resource that I have found is Crown Financial Ministries. They offer seminars and 10-week financial classes that will change the way you view debt and give practical ways to eliminate it.

When we owe thousands of dollars to credit card companies, we become financially in bondage - we lose our financial freedom. The Bible says, "The rich rules over the poor and the borrower becomes the lender's slave." Proverbs 22:7

The most common factor among those who have credit card debt is that they do not have a budget. (Four people had a budget out of 26,000 that Cornerstone Credit Counselors had counseled.) A second common factor is that 40% do not balance their check book. With discipline, this can change and thus, will affect the balance of your debt. 

Living without credit card debt is possible! I am passionate about sharing with others the benefits of living debt-free. Ask me about my personal experience with credit card debt and lets talk about how you can be on your way as well!

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