6 Reasons The Debt Monster Grows


Is this how you see your debt? A large monster always growing? There are 10 common reasons this happens and you are not to blame for all of them.

1. Interest rates. You may have a lower interest rate on some of your debt but this seems to be pretty average for interest rate on a credit card.

2. Cash advances on credit cards. Isn't it just so easy to go to an ATM, whip out your credit card and get some cash for spending? Many credit cards have a higher interest rate for cash advances. 

3. Impulse spending. Walk into a mall and everything is so shiny, so new and looks appealing. Before you even get a chance to really think about, you are spending the money that you probably don't have to spend. The item may have been on sale but was it really such a great deal?


4. Closely associated with #3 is #4, retail therapy. Are you the type of person who, when they are feeling down or out of sorts, buys things? This can REALLY add to your debt.


5. Shame and embarrassment. Yes, those can make your debt grow because you aren't facing the problem!


6. Lack of knowledge. Not knowing about your debt and how it works can just make it keep growing.

But you can stop the debt monster from gobbling up all your money and your life.

If you feel that you are ready to gain control of your debt, then stop trying to figure it all out on your own and make sure you don’t go another year without gaining control —click here
 
I might be able to help you by supporting you through the 5-Step Financial Stability program that I have used to get control of my financial situation. click here

To your success, 

Karen Magill 

P.S. It is NOT right for everyone – but if you feel having me working with you almost “daily” & giving you a proven step by step system to follow will help you get your  finances and life back on track then for more details. - click here 



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