I read an article, a very interesting article about reducing your card debt.
The article said you should forget about it (pay the bare minimum on it), and focus your energies on earning more income.
Forget your credit card debt…?
Now, I am appalled and alarmed by that suggestion on a lot of levels.
Because that simplistic approach cannot possibly apply to (1) people who cannot handle their money, (2) people do not know how to grow their money, and (3) or who cannot (for the life of them) stop buying.
And they exist – an obscene number, in fact!
Besides, according to Carmen Wong Ulrich’s The Real Cost of Living: Making the Best Choices for You, Your Life, and Your Money, having a credit card debt has an emotional cost.
A huge emotional cost.