Debt Shame is Real!
What is more embarrassing than revealing how much you weigh or how old you are? Well, we will give you one guess.
It’s how much debt you have accumulated! When conducting a study called the NFCC Embarrassment Study, researchers found out that only one percent of participants were embarrassed about their age, two percent of participants were embarrassed about their weight, and a whopping thirty-seven percent of the participants were embarrassed about their credit card debt. Wow that’s a lot! Americans have been dealing with this problem for a very long time now and it doesn’t seem to be getting any better.
So, if embarrassment comes from a sense of failure then not being able to pay off a credit card is sure to create a red face. Although credit cards can appear to be a financial solution, charging beyond an established budget can get out of control quickly.
So what’s the trick?
• Remember that you’re not your bank account.
• Sticking to a budget is key.
• If you see that your bills are getting out of control, consult a professional that you trust.
It’s easy and following these three steps will leave your bank account happier and healthier. So, if you or anyone that you know is in this situation, be sure to spread the news and let them know how they can become financially more independent. It’s a great feeling to be able to walk away and say that you are free of debt and not buried in it.
For more on debt relief check out the video above and let us know what you think!
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