Defeating Credit Card Debt With Self Control

Written by Roy Thomsitt


Credit card debt is a major social problem in some Western countries. To rid yourself of credit card debt, it is best to recognizerepparttar problem as both a social and individual problem.

If you are overburdened with credit card debt, or are in danger of becoming so, it is very easy to see it purely as an individual problem, one from which you may be suffering both physically and mentally. Worry and stress can be silent marauders into your physical and mental well being. Debt can undoubtedly cause both worry and stress, not just torepparttar 140657 debtor, but their immediate families too.

Why Should You Care About The Social Causes of Credit Card Debt?

If you wish to overcome your credit card debt problem, you will benefit from removing some ofrepparttar 140658 social influences. They are a major influence onrepparttar 140659 way you react, think and behave. Removerepparttar 140660 social influences, and you take a big stride in your journey to eliminate your debt.

I do not, of course, mean removerepparttar 140661 root causes of credit card debt. You cannot do that. What I am referring to is to preventrepparttar 140662 social influences from penetrating you and taking over your life. As an individual, you haverepparttar 140663 right to resist social influences where they are harmful. The liberal, unfettered use of credit cards is an influence you will benefit from resisting.

Just by being fully aware ofrepparttar 140664 social influences, you have made an important step. You will more likely be on your guard, and by asserting your individuality, you are more likely to overcome or preventrepparttar 140665 credit card debt problem.

What Are The Social Causes Of Credit Card Debt?

You could spend years analyzingrepparttar 140666 credit card debt problem. Here are just a few ofrepparttar 140667 influences at work inrepparttar 140668 society around you:

1. Credit card interest rates are high, thereforerepparttar 140669 profits can be high. Banks and other credit card issuers are after their slice of that big money, including from you. They can therefore justify big marketing budgets to get your money. I deliberately do not say “get your business”. You will resist better if you think “they are after my money.”

2. It is very easy to get credit cards, multiple credit cards in fact. Issuers of credit cards make it easy for you, if you have had no debt problems inrepparttar 140670 past. If they seem to take it lightly, it is understandable that their customers do too. But remember, they takerepparttar 140671 risk factors into account when setting interest rates. That’s why they are so high.

3. Your friends, neighbours and work colleagues will probably all have multiple credit cards, talk about them and flash them around from time to time. That can all influence your own attitude to credit card debt. 4. Depending on what country you are in, yours may be a “have now, pay later” society. Immediate gratification can take precedence over common sense. If everyone else is doing it, it surely must be right? Wrong. Especially ifrepparttar 140672 interest rates are too high.

5. You see other people buy new furniture, go on exotic vacations, or go out to expensive restaurants allrepparttar 140673 time. Even if you never know if they are doing so on credit card, you may wantrepparttar 140674 same. But you do not haverepparttar 140675 immediate cash, so what do you do? Jump onrepparttar 140676 credit card train? That is what your society may be pushing you towards.

How To Resistrepparttar 140677 Social Pressures To Succumb To Credit Card Debt

Due torepparttar 140678 overwhelming pressures ofrepparttar 140679 credit card society, it can be quite a difficult task, initially, to change your own attitudes. But by asserting your individuality, you can steadily eliminaterepparttar 140680 social conditioning. It is really a matter of how you think in certain situations. You are in charge ofrepparttar 140681 way you think, so all you need to do is what is natural. Not what everyone else seems to be doing around you, but what is natural to you as an individual. Think to protect yourself, assert yourself, and to look after your financial well being.

Here are a few ideas to help you:

1. Whatever type of loan you may apply for, you are after just one product, money. Different types of loans are marketed as separate products, in different packages, but to you, they should all be one: money. The money, once you have it, is allrepparttar 140682 same quality. A dollar is a dollar, a pound is a pound, a euro is a euro. Having engrained that upon yourself, knowing you are just after this single product, you need only look at price. Credit card debt is very, very expensive. The interest takes money from you, and reduces your assets. If you need a loan, you wantrepparttar 140683 lowest possible interest rate, one that does not unnecessarily leech your assets.

Monitoring Your Credit Is Easy As 1-2-3!

Written by James Dimmitt


Thanks torepparttar FACT(Fair and Accurate Credit Transactions) Act, all U.S. residents will be allowed one free credit report annually from each ofrepparttar 140606 three major credit reporting agencies - Equifax, TransUnion, and Experian. This legislation makes it easy for you to keep an eye on your credit profile throughoutrepparttar 140607 year easy as 1-2-3.

1) Why should I monitor my credit?

Checking your credit report regularly is a vital step to establishing good credit, especially if you anticipate making a major purchase such as a car or a home. If your credit report contains errors, and many do, this could prevent you from being offeredrepparttar 140608 best credit terms from a lender.

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