And the plot thickens. With most Americans feeling confident about the economy, they are feel feeling better about spending more. However, they are doing it on credit. The average credit card debt per household is $16,061 – up from $14,546 in 2006. The average household pays $1,232 annually in credit card interest. Increasingly, more Americans are accepting the notion of ‘having it now – and paying interest on accumulated debt!

The old credit slogans have seduced society onto a path that has no ending.

You know:

“Ski Boots — $119.00

Hotel Room nestled in Vermont — $495.00

Spending Time with your family – PRICELESS!”

Priceless?! How true and false at the same time. False — because every purchase has a price; the choice is yours whether or not you want to increase the price with interest payments. True — because amassing debt without a filter can lead to never ending interest payments.

Not only is this true with personal finance, but also with US government spending. The new tax bill just added $1.46 to the national debt. And, while we may not feel the pinch in our ability to make monthly payments for previous personal purchases, we will likely feel the pain of disposable income stagnation – in the future & for generations to come – because the national debt & its interest has to be paid incrementally. And, the taxation chip is always on the table.

Anyway you cut it, the combination of personal revolving credit card and increasing national debt is weighty. Over one – we have total control; over the other – limited control. Take control where you can.


“Like a city whose walls are broken through is a person who lacks self-control.”   Proverbs 25:28

In all you do, B. Lifted…
Gwen Franklin