The Debt Disease

Debt is making us sick!

Debt is not just a Financial Disease – it can lead to mental and physical ailments as well! It affects every area of your life.  A survey found that not only is debt-related stress higher than the last four years, but people with high debt stress were more likely to experience health issues for instance:

  • More than 13 times as likely than low/no stress people to lose sleep at night
  • More than 7 times as likely to have severe anxiety
  • Almost 7 times as likely to take their stress out on others
  • Nearly 6 times as likely to experience severe depression
  • Four times as likely to have ulcers or other digestive problems
  • Twice as likely to have heart problems and migraines

It’s Ruining Marriages!

Today the divorce rate is an alarming 51%. It has long been said that money problems are the number one cause of divorce and family breakups.

It Can Cost People Jobs!

A growing number of employers now review credit reports as part of their background checks on potential hires. Seeing a history of late payments, negotiated settlements, claims judgements or defaults can influence a personnel manager to choose another candidate for the job, despite the fact that you are qualified.

For the first time since the Great Recession hit, American households are taking on more debt than they are shedding! This is a recipe for disaster! Banks make a significant portion  of their profits in interest and fees earned on YOUR credit cards. They can charge you interest and fees when you carry a balance from month to month, make a late payment, go over your credit limit or overdraw your bank account. For2012 U.S. banks made $31.5 billion just in fees, nearly double what it was a decade ago.

It is time to make a u turn and start winning the war on debt!

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: