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Don’t let debt control your finance and your life

May 15, 2012 by · Leave a Comment 

An average family has a credit card debt of $7,000 according to published reports. However, given the economic slump that the entire world is facing, personal debt is rising at a faster than normal rate. As a result, the U.S. consumer debt stands at more than a trillion dollars.

Temptations are all around us. We get pre-approved credit card offers in the mail every day. Most of us carry more than one credit card and we get convenience checks with our monthly bills and closer to major holidays such as Xmas. So, keep in mind, it is not your money; if you charge anything to your card you have to pay it back; if you are unable to pay the full amount due and you pay only a portion of it, you will be charged interest on the balance; and if you are late paying, you will be charged a late fee.

Your debt not only controls your finance it also control your life. If you are unable even to make the minimum required payment every month, you will be worrying about your debt allowing your debt to control your life. So, think twice before using your credit card.

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