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Debt seems to be a way of life for a great many Americans. Not too many of us realize there is a problem until we suddenly find ourselves in an emergency situation that requires a cash flow that does not exist in our income bracket. For some people that includes and income bracket of six figures a year. Folks don't want to talk about their debt because it isn't a problem for them until they can't get more credit or find themselves suddenly unable to afford a special gift they promised a child or partner.

Open discussions about debt appeared first on the Oprah shows recently; the program did a good job of showing different levels of incomes and different reasons for the debt. It was amazing how many of the married couples were in debt because they let one or the other take care of the bills and simply assumed everything was okay. Probably the biggest favor a couple can do for themselves is talk about finances and expectations before they get married. If its too late for that it still isn't too late to start talking now.

For some couples talking about money is stressful. It becomes apparent that this is one area of the marriage where there might be little or no agreement about how much credit a family needs and what to do with disposable income. Some folks don't even know the mark-off for disposable income; many think that if the rent is paid and there are groceries in the house the rest of it is free for all. The current issue nationwide concerning foreclosures on homes and now increased difficulty in getting a new mortgage is a clear example of how many people don't have a handle on how to use their resources properly. Most people don't seek the counsel of a financial adviser or a credit specialist until they are so far in debt that they believe bankruptcy is their only recourse.

Talking about money, setting a budget, recognizing personal problems with overspending, and simple ignorance concerning one's own financial future should be a priority in everyones life. Be it couples - single or married, college student, working high school students, single parents, single fancy free anyone! Everyone needs to talk about debt, understand how serious it can be and talk to people who have been there, are there, and also talk to people who have no debt and learn how they achieved that rare station in life. Being in debt does not have to be a lifestyle anymore than being a drug addict or an alcoholic. Being aware, recognizing the pitfalls, and learning how best to manage resources can help anyone avoid debt. Talking about it can be the first step.

Learn more about this author, Louise Christensen.
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