Here's how to tell when you're too deep in credit card debt: if 15% or
more of your monthly income goes to pay your credit card bills, you've
triggered one of the many warning signs that your credit card debt is
out of control. There are other triggers, too: paying the monthly
payments on one credit card by taking out a cash advance on another
credit card.
If this scenario describes your financial habits,
you're not alone: some 39% of credit card holders pay only the minimum
payment, practically guaranteeing a lifetime of debt if they don't
change their credit card habits. So what's the solution?
The
solution is to get your spending under control. Easier said than done,
right? But most people waste an enormous amount of money on recurring
expenses that could easily be made more affordable. One of the more
obvious areas is groceries: people use grocery story coupons to buy
brand-name breakfast cereals and other items, thinking they're saving
money. In fact, anyone using coupons is actually wasting money, since
coupons are only printed for items that carry an outrageous markup to
begin with. Buying brand-name processed foods is a sure way to eat
yourself into further debt. Your health will suffer, too, since
processed foods offer very poor nutrition.
Another big money waster
in the food category is soft drinks. They're not only terrible for your
health (their main ingredient, high fructose corn syrup, has been linked
to diabetes and obesity), but they also gobble up your budget. Drinking
straight water (filtered, please) can save you as much as $50 / month.
If you're too deep in credit card debt, take a look at your food
purchasing habits, and be sure to review your restaurant and fast food
expenditures, too, since that's a huge expense for many people. By
altering food choices alone, most people can dramatically reduce their
level of credit card debt and improve their level of health at the same
time.
About the author: Mike Adams is a consumer health advocate and award-winning journalist with a passion for teaching people how to improve their health He is a prolific writer and has published thousands of articles, interviews, reports and consumer guides, impacting the lives of millions of readers around the world who are experiencing phenomenal health benefits from reading his articles. Adams is an honest, independent journalist and accepts no money or commissions on the third-party products he writes about or the companies he promotes. In 2010, Adams co-founded NaturalNews.TV, a natural health video sharing site that has now grown in popularity. He also founded an environmentally-friendly online retailer called BetterLifeGoods.com that uses retail profits to help support consumer advocacy programs. He's also a noted technology pioneer and founded a software company in 1993 that developed the HTML email newsletter software currently powering the NaturalNews subscriptions. Adams volunteers his time to serve as the executive director of the Consumer Wellness Center, a 501(c)3 non-profit organization, and regularly pursues cycling, nature photography, Capoeira and Pilates. Known as the 'Health Ranger,' Adams' personal health statistics and mission statements are located at www.HealthRanger.org
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Friday, May 28, 2004
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