Credit card debt can make you feel like you are in a financial prison. Every day you worry about the financial burdens you face as you see your debt mount to a higher level each day. Every time you spend money you think about how you are adding to your debt load when you should be paying it off.

 This is no easy task. You must figure out how you got into this financial dilemma before you can figure out how to get rid of this debt. There are three major causes why people get into this kind of debt as most financial planners and advisors have concluded.

 One of them is putting the blame on emergency situations like a health crisis, or legal problems like a divorce.  These instances can hit you like a rock but is beyond your control in many situations. If you have incurred credit card debt due to a life threatening illness like cancer, or your are faced with a divorce from your spouse after a long marriage or being sued for a death your teenager caused, the problems is not your fault.  It is because that is the way the ball bounces sometimes. Your plans were just disrupted by these events through no fault of your own. You have to do your best in these situations and bring yourself out of the doldrums. This you can do after you have consulted with your bankruptcy attorney for legal advice.

  Another reason is the loss of a job and lower revenues and thus lower profits from a business while the expenses do not change. Your lifestyle remains the same because you believe that the next job or business opportunity is just around the corner. Meanwhile, your savings are depleted and you begin to incur credit card debts. To get out of this type if thinking you have to drastically change the way you purchase goods and services and accept a different style of living.  Instead of shopping at the high ends stores you must bite the bullet and shop at the lower end stores.  If you have exceptional career skills then the odds of you making a high salary in the future are quite good.  But, you should not take chances to manage your debt and credit if you are not serious about educating yourself in the proper handling of your finances.

  The third reason is that you perhaps got carried away emotionally with your increasing lifestyle and started to live beyond your means.   You get caught up into other peoples’ way of life and trying to match theirs or be better than them without realizing you are sinking yourself in a financial hole. So, for example if you earn $1.00 and you spend $1.10, in a very short time in the future you could financially ruin yourself.  However, if you earn $1.00 and you spent only $0.70, putting $0.30 in some form of savings plan or retirement account or good investment vehicle you will grow richer over time.  You know this.  It is fundamental math. But, the real problem is emotion.  Emotions get most of us into trouble because we lack the vision to have the discipline to see things objectively.  For example, if you bought two HD television sets on the QVC channel when you really needed one or took one too many vacations over the years you are setting yourself up for financial failure. If you cannot figure out how to live within your means you will be forever in debt to your eye balls. If you have not figured out how to manage your finances by now, you and your bank or Credit Card Company will be great friends in the future. Debt and credit can be very hard to manage if you are not careful with your spending discipline.