Lesson #146-Why we end up with so much credit card debt
In doing some research for my upcoming book, on how debt free people think, I’ve been doing a lot of research lately on debt statistics. Recently I did some research on credit card debt and the recent surveys and statistics coming out in regards to credit cards and their usage are quite startling.
What does this information tells us? What I noticed was that credit card debt isn’t just a thing for those who don’t make a lot of money or are young. There are people in their 50’s and 60’s and those make well over six figures that have credit card debt.
The fact that we as a nation have $762 Billion in credit card debt is absurd. So today’s show I share ways to avoid credit card debt in the first place. On the surface they might seem basic, but a lot of times when it comes to personal finance, basic is usually the best answer.
We break down each of those ways further and share why whether or not you carry a balance on your credit card is not a good measure of whether it is wise for your to use one.
Other resources mentioned on today’s show
To send in your questions email me at Jon@JWFinancialCoaching.com
Today's quote of the lesson is brought to you by Audible.com
“Credit Cards are the WORST investment you can make” ~ Mark Cuban
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