Most people are more comfortable talking about their weight than their credit card balance.
47% feel uncomfortable talking about their credit card debt with anyone.
They do not even feel comfortable discussing their debt with finance professionals.
30% feel uncomfortable talking about their credit card debt with immediate family.
According to this creditcards.com survey, adults are far more comfortable discussing their weight, politics, religion, or health. These topics all fell in the 12-19% discomfort range. The only topic that ranked higher was sex.
It is interesting to note that 47% of adults carry a balance on their credit cards. (I wonder if they are the same ones who are uncomfortable discussing their credit card debt?)
Are you one of the 47%???
You know you “should” pay your credit cards in full every month.
You know the interest is costing you money… and lost opportunities. After all, you could be funding your emergency savings or retirement accounts instead.
And you know the emotional cost of having that debt is much higher than the monetary cost:
– the mental bandwidth used, worrying, trying to figure out how to pay it down
– the shame of trying to hide your debt from others
– the time spent tracking how much is left to use before you get the dreaded “card declined” message…
If you are part of the 47%, there are three things I want you to take away from this survey:
1. I have a free facebook community that is a judgement-free, safe place to discuss all things money, finances, investing, and money mindset. If you have not done so already, go over to How To Be A Money Master now and answer the three easy questions.
2. I am always here for you. Reach out to me in the DMs and we can discuss your specific situation. By the end of your call you will know the first steps you can take to start down the road to financial success. These calls lead to specific, actionable steps, not some vague ideas and a follow-up sales call.
3. You are not alone. Almost half of adults are experiencing the same thing. Most of them will do nothing. You can choose to take action and learn how to use your credit cards to your advantage.
Are you ready to take control of your finances?