Getting Out From Under Credit Card Debt

With interest rates on some credit cards surpassing 20%-30% consumer debt remains a classic "ball and chain" around the legs off too many adults in North America and Europe. The ability to consolidate balances into card or cards with the lowest interest rate(s), reduce the number of cards you carry and pay down principal are critical to your long-term financial success.

Yes, credit card companies seek to bait consumers into an "instant gratification - live beyond your means" culture which has become the death knell for countless adults, families and increasing students. During this major economic downturn many legitimate businesses, whether car dealers and electronics stores, are offering 0% financing and no payments for 12+ months.

Instead of viewing your next paycheck or tax refund as an opportunity to "spend and consume" it is time to change our mentality to "save and invest" in long-term appreciating assets such a real estate and education. More on these investment opportunities to come. See this excellent article from Kiplinger.