Debt is something that in our personal life we try to avoid. But each of us is compiling "debt" faster than we think.
Log onto the site https://www.usdebtclock.org to see the debt in the United States running in real time.
On the debt clock site there is also a calculation of each state's "debt clock". The state of Colorado had, as of this writing, a debt per citizen approaching $13,000.
Our personal 'debt clock' is always running also. The interest we pay on all loans is personal debt including home, auto and credit card debt.
To slow down our 'personal debt clock' use sound financial strategies.
There are many helpful websites that offer innovative ways to slow down your personal debt clock. One that my researcher found: livingthedebtfreelife.com offers unique methods to reduce debt and stories from real people who found a way out of their personal financial difficulties.
(You can do your own research by searching "living debt free" in your browser.)
Remember, others have found their way out of debt and you can too.
The struggle to approach a debt free existence is a long road, not a quick fix.
In some cases it can take three years to accomplish financial stability, with sacrifices along the way.
But practicing self control and embracing contentment is the path to a life without the stress of a mountain of debt.
Why is minimizing debt critical? High debt affects the likelihood of a comfortable retirement.
If you find yourself in significant debt, and cannot fix the problem alone, seek the guidance of a qualified financial advisor.
But beware of sites that offer the "quick fix" of debt relief for large payments.
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