The credit trap.

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First introduced to the public in 1959,
credit cards and used sparingly for their first few decades, credit cards have become a fixture in our daily lives. From the convenience of not having to carry hard currency, to the luxury of being able to rent cars or buy what we want, when we want it, credit cards promise a whole new world of freedom.

The concept of credit wasn’t new, but credit cards have made the process of getting – and using – credit to finance purchases simpler and easier for millions of everyday people.

Unfortunately, such freedom comes at a price.

Americans now carry more than 225 million signature-based debit cards and have a whopping $800 billion in outstanding credit-card balances! This does not include Student Loan debt, Mortgage Debt or even a car loan. This can turn into a slippery slope very quickly if not managed properly.

If you’re like most people, you probably have at least one credit card, if not a half dozen. And you probably carry a balance on at least one account, paying monthly interest as you go. If so, you may be shortchanging your financial future in exchange for a few consumer goods in the present.

How you use credit says a great deal about your style of money management. If you would like to learn ways to reduce your dependence on credit, pay down current debts, and save or invest that money instead, I would be happy to show you how.

Contact me for more information.

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