Ever since World War I and the Great Depression that followed, the American government has kept track of its citizens spending and saving habits. The results did not become frightening until the 1960‘s, when, all of the sudden, spending started to outpace savings. Debt reduction did not seem to be massive problem yet, but today tells another story. All it takes is one glance at our government’s massive deficit to recognize that Americans are addicted to spending, even if they don’t have the money to do so.

Over 50 percent of American society spend more than they earn or save. This translates into too many Americans waiting for each payday and still winding up short when they go to pay the bills. They may have cars that cost more than a full college education, but if for some reason they didn’t have income for a certain amount of time, they’d go downhill very quickly. It doesn‘t matter what tax bracket you‘re in; you probably have some form of debt, and eliminating that debt is always going to be a good thing. Once you’ve made the decision to reduce whatever debt you do have, you’ve chosen to take control of your life and financial health.

It really isn’t just financial health, though; debt can impact your body. When debt and the worries that accompany it start to recede, your blood pressure and stress levels plummet as well. Why run your body further into the ground? All it takes is a commitment to change.

How to alter bad behavior

When someone has made keeping up with the Joneses part of their lifestyle, debt reduction can seem least appealing. People like to think about what spending money means, but not what paying it back will require. The bottom line is that you pay for every dollar you spend, at one moment or another. Don’t let that moment belong to your children, passed on to them by your passing.

All it takes is the decision to make a change, and that decision can come today. Look at your debt in a vacuum, recognize how it will impact you, and forget what people might think if you start living a little more conservatively. It may not be an easy process, and it may seem daunting, but it‘ll leave you happier and healthier in the long term. By eliminating the debts you owe, you’ll no longer have to make monthly payments, eventually giving you more cash to spend. A huge weight will be lifted off your shoulders. Why not give it a try?

 

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