12/10/2023
Guys, listen up!!!
I heard a pretty horrifying statistic earlier today, that illustrates a sad example of the belief we've all been brainwashed into regarding how we think about debt in America.
Are you ready for the statistic?…
Here it is:
More than 25% of Americans are still paying for the gifts that they bought last Christmas.
This means the people who purchased on credit cards and didn't pay them off immediately, couldn't afford the purchase to begin with, but decided to pay more for them by adding interest to their purchase.
Whatever your percentage on your credit card is, just add that after that amount after the decimal point to figure out how much more you're paying.
If you have an 18% interest rate, you're paying $1.18 for every dollar the item cost, no matter what it is.
If it's 22%, even worse, you're paying $1.22 for every dollar that you spend.
This means if you spend $1000 at a 22% interest rate, you will be paying $1,220 for your purchase, and that's just the first month.
If you can't pay more than the minimum payment each month, you will pay thousands of dollars more for that $1000 purchase over several years of minimum payments.
Again, if you couldn't afford it when you bought it, and you put it on credit, you couldn't afford it, so just don't buy it this time!
If you're still reading, here's another statistic:
The #1 cause of divorce in America is money, fights, and money problems. 
It's time that Americans open their eyes and wake up to the bull crap we've been fed all our lives.
"I want it, and I want it now!" just doesn't work. "adults, devise a plan and follow it; children do what feels good."
Americans now have $1.3 trillion in credit card debt.
To understand what 1 trillion is, it is 1000 billion
To understand what 1 billion is, it is 1000 million.
These numbers are so high that they are practically inconceivable to wrap your head around but if we all do our part to reduce credit card debt, we will end up, living within our means, and having less stress, and much more peaceful lives.