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The Danger Of Normalizing Your Debt – Stop Living Like Everyone Else

Last Updated: October 18, 2020 BY Michelle Schroeder-Gardner - 53 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Instead of living debt free, we’re currently in a debt crisis, and I’m not being political when I say that. I’m talking about a personal debt crisis in which the average person pays for many purchases, both small and large, with money they don’t actually have, therefore taking on more and more debt.

The average person has a lot of debt and due to that, we are currently in a personal debt crisis. However, you should start living debt free ASAP!And, the scary thing is that many people consider debt to be normal, so they have no problem taking on debt to pay for things. But, just because everyone else is doing it, that doesn’t mean you need to as well.

The average person has a lot of debt – in fact, the average U.S. household has over $10,000 in credit card debt alone. Between high mortgages, disastrous credit card bills, student loans, car payments, all the way to loans for furniture and weddings, there is just too much debt.

There are loans for everything, and sadly, many only look at the monthly payment to determine whether or not they can make their purchase.

Some look to debt as a way of affording things for the rest of their lives. Instead of being more realistic with their finances, many people even “budget” debt well into their future. Think I’m joking? [Read more…]

53 Comments
Filed Under: Budget, Debt Tagged With: Budget, Living debt free

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My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.

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