The phone rings and you hit "Decline." Are there too many phone calls and letters in the mail, reminding you that you are in debt? Don't they understand that if you had the money you would have paid it all back already? Unpaid debt is a stressor! That stress can cause physical and emotional difficulties, put a strain on your relationships, and keep you from the joyful life that you deserve.
Every single one of us will experience life challenges from time to time, and financial troubles are a common one. What you need to do when money struggles keep you awake at night is remember two critical things. First, you are not alone, and second, there is always a way out.
According to recent estimates, as many as 80% of families in the U.S. carry some form of debt. American families currently have an average of $15,000 in credit card debt alone and one in three Americans have debts that have gone into collections. If you are experiencing some or all of these issues, the solutions could be faster and more straightforward than you are imagining.
One possible solution to your financial stress is loan consolidation. Loan consolidation may simplify paying off your current debt, save you money by decreasing your current interest rates, and help you to build a healthier credit profile.
All debt issues and potential solutions are unique to individuals and should be assessed with that in mind. If you think that loan consolidation may be right for you, there are debt solution experts available to guide you toward financial freedom. Sometimes debt though may be a result of a bigger problem. Spending above your means is not a healthy lifestyle. When you are trying to be fiscally responsible you must take a holistic approach and ask yourself these four questions:
- How much am I spending?
- Why am I spending?
- What is causing me to spend?
- Is this necessary?
When you realize that keeping debt will have you bondage to someone else, eventually you will want those chains loose. Be responsible and take a fiscal approach that will lead to a much more healthier you and healthier bank accounts.