The financial goals and credit card tracker workbook
“The single most dangerous obstacle to building wealth: Debt.” In order to help you take control of your financial destiny, you’re going to have to take control of your debt. The more debt you have, the longer it’s going to take you to build wealth. This is because instead of having money to put aside to save and invest, you now have to put this money towards paying off your loans, or credit cards, or that old bill that’s in collections or any other debt you have. When you have lots of debt it puts a constraint on your other goals.
Many of the people who signed up for the organize your finances contest all have the same thing in common: debt. They have debt and they also have other goals they want to reach. Some of them even struggle with paying off their debt because they don’t want to feel trapped as if they can’t enjoy their life so they spend their money on other things and pay the minimum amount on their debt.
I would’ve gotten sucked into the interest debt cycle. That is a forbidden place for me. (It should be a forbidden place for you too I talk more about debt here) I’ve been there so I know how you feel. I’ve promised myself that once I got out I couldn’t go back. So it’s huge that I pay off my credit card balance in full each month. This is because at the end of the month you want to be able to have extra money to save, and invest.