How a Debt Consolidation Service will Destress Your Family Life
Consulting with a debt consolidation service ...
... is an excellent way to pay off credit card debt quickly. Rather than having your debt spread across many credit cards, you will have a single payment with a lower overall interest rate and reduced monthly payment. Once you've secured a loan and paid off your credit card balances, practice sticking to your budget, so you won't fall back into the trap of spending more money than you make.
How do you do justify the use of a debt consolidation service and fulfill your obligation to yourself? First, recognize the danger of accumulating credit card debt. Excessive spending is self-destructive because it prevents you from investing money that will grow. Did you know that if you save just $1 per day for 40 years, you'll have $190,000.00? Learning how to make your money work for you is the driving force behind making sound investments. With credit card debt, the only things that grow are the debt you owe and the dust on the forgotten items in your closet.
To illustrate how unnecessary most credit card purchases are, take a look at your current balances. If you're like most people, you can't remember half of the items that made up the $4000 balance you carry on your credit cards. When you realize that the average person carries credit card debt in excess of $10,000.00, you realize that the interest on these forgotten purchases is a crazy burden to ignore.
The next step in making a debt consolidation service work for you is to stop feeling bad about the credit card debt you're in. Feeling guilty does not change anything. In fact, it compounds the problem. Feeling guilty is self-defeating and often leads to impulsive spending, in an attempt to assuage the guilt. People who buy things to simulate a feeling of happiness and control will feel disgusted and powerless soon after they've made their purchases.
Perhaps the most important reason to consult with a debt consolidation service and get out of credit card debt is to teach your children that plastic money is a master that can easily enslave them. By reducing your debt and paying off all charges at the end of every month, you teach your children how to make money and credit cards work for them.
As you learn techniques of debt management, your children will have to change as well. Tell them that the debt consolidation service is helping you pay off the family debt, but you also need their help. Explain the dangers of accumulating credit card debt. Challenge them to understand the difference between needs and wants and discover how they can do with less. Spell out the benefits: less things means less clutter and less maintenance. This translates into more free time and will encourage the use of imagination. Ask your kids to think up family activities that you can do together for free. Instead of slathering them with gifts because you have to work two jobs to buy things of fleeting value, give them your love and time instead. Although they will have to adjust to living on a budget, they'll stop missing the toys when they find that they have more of what they've wanted all along--attentive and loving parents with whom to share their lives.
Debt Consolidation Service - Family Finances