by Karolina Linares

Created on: June 28, 2006   Last Updated: January 07, 2008

Recently, I read an article a written for TribStar.com about a report called "The Plastic Safety Net: The Reality Behind Debt In America". Basically from what I gather this report is all about Americans using and building up credit debt due to life emergencies and just plainly trying to keep up with the cost of living. Furthermore it makes it seems as if people who have gotten into debt, especially low to mid income citizens, are victims and have very little control over why they have gotten into debt. The report also has research about people being in debt over standard cost of living expenses such as rent, utilities, medical care, tuition for children and even food.

I was made aware of this article through Pat Veretto's Frugal Living Newsletter from About.com. Even though it has been several months since this story was posted in the TribStar, it is still very much relevant now, and probably will be 6 months from now, a year from now and so on.
It is very well researched and has a lot of eye opening truths and facts in it that I must agree with, mainly because I've been there and done that as far as being in a credit card debt situation myself.
To jump ahead however, I will tell you my happy ending now. After being in almost $14,000.00 in credit card debt alone, at the age of thirty… I made a plain, distinct decision, that no matter what, I would:
1. Pay it all off - without adding more to it
2. Find a way to live and enjoy my life without ever getting into that kind of needless debt again.

I paid off the entire amount in about 4 to 5 years, all on my own. It took dedication, discipline and all out self control. I had to change a lot of distorted spending attitudes I had. I now live a life where I do not use credit for anything, anymore. I have one open credit line that I don't use at all. My whole philosophy has changed and I have learned the hard way, that saving the money first is far easier than getting into debt. A quick comparison is with a computer purchase. The very first computer I bought was almost $3000.00, purchased on credit at fairly high interest rate. It took me way too long to pay that off. My next computer, was a used computer - perfect for my needs - bought for $80 from a personal seller. The newest computer I now have, was purchased for a little under $800.00 that I saved up for in about six to eight months. I paid cash out of my checking account with a debit card for it. The money was there up front and I paid ZERO dollars in interest.

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