Here's how to tell when you're too deep in credit card debt: if 15% or
more of your monthly income goes to pay your credit card bills, you've
triggered one of the many warning signs that your credit card debt is
out of control. There are other triggers, too: paying the monthly
payments on one credit card by taking out a cash advance on another
credit card.
If this scenario describes your financial habits,
you're not alone: some 39% of credit card holders pay only the minimum
payment, practically guaranteeing a lifetime of debt if they don't
change their credit card habits. So what's the solution?
The
solution is to get your spending under control. Easier said than done,
right? But most people waste an enormous amount of money on recurring
expenses that could easily be made more affordable. One of the more
obvious areas is groceries: people use grocery story coupons to buy
brand-name breakfast cereals and other items, thinking they're saving
money. In fact, anyone using coupons is actually wasting money, since
coupons are only printed for items that carry an outrageous markup to
begin with. Buying brand-name processed foods is a sure way to eat
yourself into further debt. Your health will suffer, too, since
processed foods offer very poor nutrition.
Another big money waster
in the food category is soft drinks. They're not only terrible for your
health (their main ingredient, high fructose corn syrup, has been linked
to diabetes and obesity), but they also gobble up your budget. Drinking
straight water (filtered, please) can save you as much as $50 / month.
If you're too deep in credit card debt, take a look at your food
purchasing habits, and be sure to review your restaurant and fast food
expenditures, too, since that's a huge expense for many people. By
altering food choices alone, most people can dramatically reduce their
level of credit card debt and improve their level of health at the same
time.
About the author: Mike Adams is a consumer health advocate and award-winning journalist with a strong interest in personal health, the environment and the power of nature to help us all heal He is a prolific writer and has published thousands of articles, interviews, reports and consumer guides, and he has published numerous courses on preparedness and survival, including financial preparedness, emergency food supplies, urban survival and tactical self-defense. Adams is an independent journalist with strong ethics who does not get paid to write articles about any product or company. In 2010, Adams launched TV.NaturalNews.com, a natural health video site featuring videos on holistic health and green living. He's also the founder and CEO of a well known email mail merge software developer whose software, 'Email Marketing Director,' currently runs the NaturalNews email subscriptions. Adams volunteers his time to serve as the executive director of the Consumer Wellness Center, a 501(c)3 non-profit organization, and enjoys outdoor activities, nature photography, Pilates and martial arts training. Known as the 'Health Ranger,' Adams' personal health statistics and mission statements are located at www.HealthRanger.org
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Friday, May 28, 2004
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