Credit card debt is a major social problem in some Western countries. To rid yourself of credit card debt, it is best to recognize
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 to 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 of social influences. They are a major influence on way you react, think and behave. Remove social influences, and you take a big stride in your journey to eliminate your debt.
I do not, of course, mean remove root causes of credit card debt. You cannot do that. What I am referring to is to prevent social influences from penetrating you and taking over your life. As an individual, you have 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 of 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 prevent credit card debt problem.
What Are The Social Causes Of Credit Card Debt?
You could spend years analyzing credit card debt problem. Here are just a few of influences at work in society around you:
1. Credit card interest rates are high, therefore 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 in past. If they seem to take it lightly, it is understandable that their customers do too. But remember, they take 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 if interest rates are too high.
5. You see other people buy new furniture, go on exotic vacations, or go out to expensive restaurants all time. Even if you never know if they are doing so on credit card, you may want same. But you do not have immediate cash, so what do you do? Jump on credit card train? That is what your society may be pushing you towards.
How To Resist Social Pressures To Succumb To Credit Card Debt
Due to overwhelming pressures of credit card society, it can be quite a difficult task, initially, to change your own attitudes. But by asserting your individuality, you can steadily eliminate social conditioning. It is really a matter of how you think in certain situations. You are in charge of 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 all 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 want lowest possible interest rate, one that does not unnecessarily leech your assets.
