The Debt Epidemic

The Debt Epidemic

Epidemic – definition: a widespread occurrence of an infectious disease in a community at a particular time. We all know what it’s like to be in the midst of an epidemic. So many people are getting infected, while others are trying to avoid getting sick. People usually get infected by participating in activities with or near someone who is sick. It can be as simple as shaking hands or being in the same room as someone who is sick. When people think of epidemics, they usually think about viruses that affect your physical health. Debt is an epidemic that affects your financial health.

Here are some statistics about debt from More than 189 million Americans have credit cards. The average credit card holder has at least four cards. On average, each household with a credit card carries $8,398 in credit card debt. Total U.S. consumer debt is at $13.86 trillion. That sounds like an epidemic to me. Marketing, comparing yourself to others, and wanting more than you need help to spread/increase the culture of debt. But just because there is an epidemic, it doesn’t mean that you have to get infected or stay infected. Prevention is an important way to stay healthy.

If you are experiencing some of the symptoms of debt including, living paycheck to paycheck, getting phone calls from debt collectors, taking out payday loans, and living with anxiety, fear, and depression, then you most likely are “infected”. However, you have to realize it for yourself, so you can do something about it. After you realize your condition, then you need to get some help. You can either seek out the services of a financial counselor, a financial coach, and/or a support group. There are also several written, audio, and video resources available to assist you. There is something for everyone who wants to make a change and get healthy. Once you get healthy, you can stay healthy by managing your money, focusing on needs over wants, and realizing that money cannot buy you happiness. You are enough and you deserve to be financially healthy. All the best.

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