Many people are prone to believe that there is no way to live debt free. This is mainly because people have come to believe that they can’t live life without a credit card.

For many individuals, a world without credit cards is one that they can’t imagine.  Having said that, more and more people are coming to realize that credit cards, if not used savvily, tend to do much more damage then good when it comes to an individuals overall credit if it’s usage is not tightly controlled and managed properly.
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IT’S one of the toughest lessons an investor has to learn: while the value of assets can plummet posthaste, it takes forever to shrink the debt that was used to buy them.

Last week, this harsh truth was made clear yet again, in a report on consumers’ financial well-being by the Federal Reserve Bank of New York. The first of a Fed series to be published quarterly on household debt and credit, the 38-page report shows just how tapped out the consumer remains three years after the borrowing bubble burst.
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Officially, America’s debt is $13 trillion this year to rise to $22 trillion by 2020. How about the national debt that’s not being counted?
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Suffering from christmas credit crunch? When it comes to the holiday season no one wants to be a Scrooge, but at the same time no one wants to become overwhelmed by debt!  For most people Christmas has become a catch-22 when it comes to shopping for their friends and loved ones.  They want to please every one with that special one of a kind gift; but at the same time they don’t want to live on bread water for the next year.
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Debt consolidation especially credit card debt consolidation is fast becoming necessary in many quarters, as people use credit cards as a form of sustenance. At the same time the credit card companies are making a killing as they encourage more and more people to take out more debt on credit cards.
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