Debt Got You Down?

Forget about the National Debt that is over $9 Trillion dollars! That’s over $30,000 per person.

 What is your personal debt? Oh, not much. Let’s list a few areas out…

  • Credit Cards
  • Mortgage (1st, 2nd and 3rd loans)
  • Installment Loans (Vaccuum cleaners, furniture, pets, etc.)
  • School (College, Private School for kids, etc.)
  • Wedding
  • Travel/Vacations

Yes, once again Sam has a depressing post. (Some of those items above are real experiences & life lessons I’ve dealt with, or still dealing with.) Let’s be real, we all have debt. Does it control you? Are you a slave to it?

Don’t you just love the bumper sticker- "I owe, I owe, it’s off to work I go."

I owe.jpg

So what to do about it? Write down all your debts.

As an example: 

Type
Amount Owed Monthly Payment Interest Rate
Home Mortgage $ 79,000  $ 905 7.30%
College Loans $ 17,300  $ 309 5.40%

 

 

 

 

Do that first then we can determine which to pay off first… (for another post)

To get more answers now, check out the book I’m reading- Your Money Counts  Specifically chapters five and six.

Let’s Get Out of Debt,
Sam Carrara

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Saturday, January 19th, 2008 Finances

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