I was driving in my car when I heard an ad for debt consolidation. These ads are everywhere, so it must be pretty good business. Anyway, something I heard on the radio really struck a nerve with me. To paraphrase the commercial it basically stated, “Have too much Credit Card Debt? Don’t you realize that the credit card companies are after you by charging you high interest rates? It’s not your fault. Blame the big bad credit card companies who are out to get you!”
Now I won’t dispute the fact that credit card companies are trying to make a lot of money off of you. After all, they are a business. However, this commercial really just bothered me. Seriously folks, when you have credit card debt, you really have nobody to blame for yourself. There are times where there is a legitimate emergency, and you have to use credit to get out of it. But these are few and far between. Even in these cases, I would argue it is still YOUR fault if you have EVER purchased something you didn’t need on a credit card and left a balance because you should have been saving the money to put into an emergency fund in the first place.
So instead of blaming other people for your problem, why don’t you stop buying things you can’t afford? Don’t let the credit card companies charge you interest in the first place. Be in control of your own finances, and you will be in control of your own destiny. I know it can be easier to just point the finger of blame at someone else. But when you point that finger back at yourself, you will find that more often than not, accepting responsibility for your own mistakes will be far more productive.