There’s an article over at Kiplinger – nothing really new, but I did find the first paragraph rather interesting:
America is the richest country in the world, yet, ironically, we have the highest percentage of people living paycheck to paycheck. A recent study from ACNielsen revealed that about one in every four Americans say they don’t have any spare cash. Without any wiggle room, it’s easy to see why so many people turn to credit cards to finance life’s little necessities.
There seems to be an overwhelming image that those who have large credit card debts do so because of extravagant spending. While this may be true for some, it’s not the case for all and more and more people are finding themselves in credit card traps that they never imagined they’d be in when the used the credit card to help tide them over in a tight spot.
Most people do have areas where they can cut expenses, but don’t realize it because they have gotten into a habit for so long that they have a hard time seeing what is a necessity and what is not. That is why it really helps to make out a budget and see where the money is going.
If you believe you’ve done everything you can, post your budget under an anonymous name in a money saving forum and let the member of that forum make suggestions. Most of them have been there and know where the excess fat lies. You’ll be surprised, but it can be done.
Once you relieve yourself from credit card debt, you’ll find yourself in a much stronger financial position and hopefully learn that those small tide over credit card charges cost a lot more than they appear.