When you take a minute and reflect on how poor the economy is, and has been, you will understand why making the decision to address your mounting debt now is more important than ever.

Take note of how our everyday lives are impacted by a bad North American economy.  Gasoline prices are over $6.00 a gallon at certain stations in Southern California.  It is estimated that over 10% of the average person’s paycheck is now going toward gasoline!

Have you noticed the rise in food prices?  Well, keep an eye out because food costs are going up!  You may want to consider slowly preparing a food storage supply.  Canned items, bottled water, etc. will keep until you need it.

Listen folks…the truth is millions of Americans are struggling and it’s not our fault.  More of our money is being taken in taxes than any other time before.  In fact, a lot of those tax dollars went straight to the banks as a bailout.  How did that help you?  And then banks have the nerve to continue raising their fees.

Here’s what you need to know…

The government is in “Help” mode.  Their are programs for just about every need.  Their are even Government-Approved debt relief programs overseen by Uncle Sam that permit banks to collect more debt by allowing the banks to negotiate with their debt holders.  These banks know exactly how hard the credit card interest rate they have been charging you for the last umpteen years has been a crushing blow to your ability to pay down the actual principal.   You need to realize with average card rates near 20%, these banks have been making a darn near criminal amount of money just by letting people spend like crazy without true understanding of how compound interest works.  It is crushing in this instance.

So, the lesson here is that because the economy is in a shambles, our financial environment is such that you can  benefit from the availability to settle your debt in a responsible fashion and be debt free in  months.

Here’s the best news… after you are debt free, and no longer have to shell cash out to the creditors, you can start saving a portion of your paycheck and reap the same rewards of compound interest that the banks enjoy.   Someone once told me, as soon as you get your paycheck, take 15% [at least] of it and PAY YOURSELF.  Put it away in an interest earning account and don’t touch it.  Pay yourself first and know that is your retirement and the more of your paycheck you use to pay yourself, the sooner you can retire, and the more comfortable you’ll be.  So, take the first step, and get out of debt.

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