How often do we use money like Novocain, spending freely to numb the pain in our lives or the pressures at work? But instead of making things better, it just gets us deeper into trouble.
Yet we justify our shopping sprees with thoughts like, “I’m going through a divorce. I deserve this,” or “I hate my job. At least I can enjoy my life.”
What gets us into trouble isn’t the spending, but our self-deception. It’s called denial. And denial can generate considerable debt.
Getting out of denial is a prerequisite for prosperity. Credit card debt is insidious, but not insurmountable.
Making minimum payments can take 30 years or more to pay off (because 75 percent of what you pay goes toward the accumulating interest).