Know How A Credit Card Debt Becomes A Huge Burden In Your Life
Many people find themselves so far in debt that they scarcely have any idea what they are going to do to remedy the situation. Unfortunately, some people linger in this type of debt for the overwhelming majority of their adult lives. Others manage to find a way out of it and they are that much better off because of their experiences. One such individual is JoAnneh Nagler, a 42-year-old artist, and author who also spends her days as a yoga teacher and a personal financial coach. It is important to know that while it might seem like she is living a fairy tale lifestyle, it wasn’t always that way. In reality, she spent a good chunk of her life in debt, from the time that she was old enough to rack up a debt of her own until just a few years ago.
Nagler strives to make sure that no one else has to go through all of the hardships that she went through while she was continuing to rack up more and more credit card debt. She admits that she got into debt through a series of bad decisions, many of them in concert with her then-husband. However, she also takes full responsibility for her own financial situation and even points out that when she and her first husband separated, she still continue to rack up even more credit card debt on her own. She also admits that she first got in trouble by getting several credit card offers in the mail and then racking up charges on them until they were maxed out on things like eating dinner out and going shopping.
Much of this was because she was in a job that she considered to be going nowhere and she was miserable in her profession. Nagler had a knack for all things creative and she desperately wanted to have her own business. Eventually, she decided to put approximately $80,000 on various cards in an attempt to finance her endeavors. Unfortunately, she quickly found herself in far more debt than she could hope to pay off and she wasn’t making the kind of money she had hoped she would make in her business. She said that everything came crashing down on her one day as she shopped for food and realized that she would have to charge her purchases to yet another credit card because she didn’t have enough money in the bank to pay for her groceries.
This is where her story deviates from so many others. Instead of falling deeper into debt and choosing to do nothing about it, she started researching her options. She quickly realized that there really weren’t that many existing options for people that were already so far in over their heads. She was able to find tons of material for those who were already doing well financially and wanted to further increase their wealth, but for those who were in financial trouble, she found precious little information. Eventually, Nagler got fed up and decided to create a system of her own. She knew that if it would work for her, it would work for anyone else that found themselves in a similar situation.
The system did work. Nagler says it took her approximately 10 years to pay off the $80,000 in debt, but today she is debt free. She even wrote a book entitled “The Debt-Free Spending Plan” that lays out everything in a step-by-step fashion so other people can do the same thing. She says the most important parts involve setting up several small savings accounts that are all dedicated to certain things like repairing the car, planning for a vacation or setting aside money for a day out shopping. She also suggests making small changes that still allow enjoyment of life without costing so much money.
Today Nagler is married and doing well financially. She suggests that anyone struggling with debt not be afraid to reward themselves, but should do so in a practical manner. She also makes it a point to tell people to take things slowly and learn how to pay recurring bills every month before tackling old debt, as it will do no good to pay off debts of the past if that puts you in a position where you cannot afford to pay your monthly bills. Finally, she suggests splitting up bills if you are married, making each individual personally responsible for certain expenses.
Nagler shows that it is possible to get out of debt, even when that amount is so high that one would never believe they could actually pull it off. She provides a beacon of hope for every individual that is currently struggling with any type of debt, not just credit card debt. She also proves that when you make paying off debt a priority and you make the decision to get your financial health in order, it is possible to do so and live a better life because of that decision.
For more information on debt help please visit. Consumer Credit Card Relief