The futility of tracking every dollar ourselves..
You probably know how much money you made last month but you do not know how much money you spent. Or do you know how much money you have left to spend this month. If you do not, you’re not alone. Most people have no idea. The fact is most of us spend 10% more per month than we make. That comes out to $631 per month based on the Average American income. How about the bonuses!!?? And if you come out short in money, how are you going to manage your debt relief? This has led some critics to charge that credit counseling is just a tool of the lending industry. The payment system, known as "fair share," has certainly encouraged the growth of credit counseling services. And some agencies, driven by competition, are now openly courting consumers who haven't fallen behind on their debts by promising lower interest rates. This development has angered credit-card companies and often hurts consumers, who may find out too late that such plans can hurt their credit ratings and are often unnecessary.
As my folks put it -
“Cash is king!”
“You spend less with cash!”
“You can’t overspend with cash! When it’s gone, it’s gone."
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