Additional statistics show that the average household has 10 credit cards and, not surprisingly, over half of those households report having trouble paying their minimum monthly payments. For many Americans, the statistics and debt problem indicators hit even closer to home with the conclusion of the holiday shopping season and the onset of income tax season. Facing debt is one of the major barriers for people in dealing with their personal finances.
Debt can paralyze people from moving forward.
But with a solid plan and the right tools, paying off their credit cards and eliminating their debts can be tolerable and even enjoyable. Numerous options are available for those who are struggling to shut the door on debt. Declaring bankruptcy is not necessarily the best option. No, this doesn't mean that you can go on a spending spree if you are feeling depressed. Instead, get plenty of rest and eat well to keep energized while focusing on your goal of being debt-free.