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."
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
