Monday, July 9, 2012

Debt is dumb!

The title sounds harsh but it's a reality.  Americans are up to their eyeballs in debt.  The average US household has $6,600 in credit card debt ($15,799 for households actively using credit).  This number may seem small but coupled with mortgage, automobile and student loan debt this number sky rockets. You may be unaffected by those numbers until life happens and a job is lost, or maybe interests rates increase.   More often than not small shifts in a families income can quickly explode the overextended household budget.  I can go on and on about the woes of debt, but that's not my purpose today.  Below are a few sites to help you get on track and control your debt.

Man Vs. Debt (This website offers some realistic views on paying down your debt)
Dave Ramsey (The same advice your grandmother would give you.)
Suze Orman (Host of national debt talk show)

"The man who never has money enough to pay his debts has too much of something else." - James Basford

"Running into debt isn't so bad, it's running into creditors that hurts." - Unknown

"Never spend your money before you have it." - Thomas Jefferson

"No man's credit is as good as his money." E. W. Howe

"You cannot spend your way out of recession or borrow your way out of debt." Daniel Hannan

"Debt is dumb; Cash is king." Dave Ramsey

"It takes as much imagination to create debt as to create income." Leonard Orr


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