“Will it be cash or credit?”

From Bangkok to Edmonton, credit card statements stop mail and email boxes with payment deadlines. Each bill reminds the giver that gifts given freely do not come for free. Giving and buying often exceeds generosity and need as a crispy piece of plastic becomes an eerie spoiler of hopes and dreams.

During this week, two families emailed me about credit card debt. One family hatches $ 12,000 and $ 50,000 springs the other. Every family wants relief; Debt accumulation, however, comes easily, while debt relief projects stop emotions and wallets.

Consumer debt burdens workers in all economies. Highways jam with doldrums, “I owe … I owe … It’s out of work, I go”. . As an old saying reminds us, “the debtor is the servant of the lender”.

Almost every government charts consumer debt. U.S.A. The Federal Reserve’s January report indicated the U.S. consumer debt at $ 2 trillion; the highest level in the U.S. history. Canadians report low time savings (as debt rises, savings fall). Thai consumers pushed up debt levels by 25% last year. Families in the UK may be forced to reduce their consumption or sell their homes if interest rates only ratchet up 1%.

Debt management resources can guide consumers to the high level of debt relief as many credit management companies are discovering the need for debtor assistance and education. However, consider these steps before handing out more money to a credit bureau.

1. Manage your emotions. Spend some time journalizing your feelings about money by asking yourself where you learned personal definitions of fear and greed. Have fun by taking the innovative surveys found on Emode.com.

2. Press off the weights when deferred. Take action; do it now. This work requires sweat and concentration, but the rewards guarantee you freedom and performance.

3. If you learned how to use, you can master saving (ultimately, it’s all about saving). However, before you spend more money on reducing your debt and increasing your savings, educate yourself. Go to Myvesta.org, a nonprofit financial education organization. You will find “how to” books, such as “How to Remove Your Debt as a Professional” along with many other self-help resources. Don’t let someone else do for you what you can do for yourself. Working through your debt as a fascinating experience allows you to own your choices by changing your point of view.

“Creditors have better memories than debtors.” – Benjamin Franklin

4. Myvesta may not fit all your needs, so add the Alexa.com toolbar to explore other similar sites.

5. If you are married, discuss credit card management with your spouse. Two questions undermine romance: money and … well, you know the other.

6. Do not take a consolidation loan, whether personal or equity, unless you find this to be the very last alternative. If you accept a loan, “shop … shop … shop ‘until you drop” the interest rate.

7. If payments are lagging behind, call credit card companies NOW … today … this minute. Find the right person for you to discuss your situation. If you are met with stairs and parenting staples, end the conversation, wait a while and try another person. When you need to, ask for a supervisor. Be gracious, professional and persistent with an action plan.

Most Americans have 5 or more credit cards around. Take four of them and bury them in the backyard. Store one in emergency. Diligent efforts now will guide you towards financial freedoms in the future. Best wishes; if you act on this or similar recommendations, you will stand in a small crowd. Best wishes; if you act on this or similar recommendations, you will stand tall in a small crowd.