New report adds credit card debt to list of taboo subjects.
Debt! We’re all familiar with it in one way, shape, or form. Some of us are paying off student loans, mortgages, and, of course, credit card debt. If you’re lucky, you’re dealing with the trifecta and repaying all three (just kidding.) On a serious note, credit card debt is taking its toll on the population. A new poll conducted by CreditCards.com illustrates the uneasiness associated with debt. According to their findings, people are more comfortable talking about politics and religious views than the amount of credit card debt they’re carrying. Wow, talk about a 180.
Just a few short years ago credit card debt was seen as a way of American life. Prior to the recession, credit cards were ‘cool.’ “Don’t have cash? No worries… use plastic.” However, the last few years have wholloped our wallets. We had foreclosures soar, lost a good amount of our retirement savings, and have dealt with relatively flat incomes. The American Dream resembled more of a nightmare than anything, and now we’re living this reality – wide-awake and cognizant of the trouble debt can cause.
If you’re struggling with credit card debt, don’t stick your head in the sand. It’s important to have open and honest conversations with reliable individuals who can help you dig out of your situation. Contact one of Cambridge’s counselors who will lend an empathetic ear, and solutions to help stabilize your situation – Get help Now!.
On the subject of debt, April is Financial Literacy Month and we’re celebrating by holding a very special contest. If you answer the most money related questions on our website correctly throughout the month, you could win a coaching session with ‘America’s Money Answers Man,’ Jordan Goodman. To enter, simply answer our Question of the Day at Cambridge Credit’s Financial Literacy Month Contest.
Until next time I’m Thom Fox for Cambridge Credit Counseling Corp.