Don't drink alcohol – don't have credit card debt

Credit card and high-interest rate debt are the biggest hazard for most of people in this world. Sometimes the reason of excessive credit card use are night-club and gambling. In my research, if teenager at age 20-25 stopped smoking, alcohol, and gambling, they would increase money fro their retirement close to $2,000,000. Stop unnecessary Items can eliminate credit card debt. And take you away from illness of smoking and drinking alcohol.

I don’t care no matter you smoke until your lung look like black bag or how much you like the night club and play the slot-machine. A two pack of cigarette per day will take you throw away $1 million of money in the future. General Beer drinker throws away another $500,000. These costs do not include fees and interest charged that you face. Even though gambling sometimes is investment, but very high risk. This is a easy way to lost your money. Surely, casino needs the profit and they try to make you lose than win, so if you pay for gambling, your money will lose away rapidly.
Finally, all three of these habits are addictive, you may addict to these thing and pay for them more and more, it doesn’t like other expenditures such as travel, or vacation that not addictive. If you have addicted some of them, run away from them. It’s easy to say but hard to do. The important is your mind and determination to fight. In another way, I suggested that you should get into club that help you run far away from cigarette, alcohol, or gambling.
Recent studies show that the average American household carries almost $6,000 of credit-card debt. And The average interest rate that people face is around 14% (when prime rate at 7%). Imply that the average of monthly interest payment is $6,000 X 14/12% = $70. If you pay the typical minimum monthly payment on $6,000 of credit-card debt (usually 1.5 to percent of your debt), it will take many years to complete paying.

People like credit cards because of their convenience and marketing campaign impact credit-card companies. The companies lead us to believe that having the credit card can help you become more wealth. The big companies are offering us interesting promotion with high credit limit. And sometimes encourages you to buy things by point collection program – in example, if you have 500 point, you will get free concert ticket.

Anything that lead reduction of wealth is the worst thing. Credit-card debt plays that role, the largest reduction of your wealth. Therefore, purpose of this article is to eliminate any credit-card or other high-interest debt that you have by get out of the dangerous expense- smoking, alcohol, and gambling. Good luck for reduce your debt and see you in next article.