Debt is a tool that can allow you to have something now that you can’t truly afford. The majority of people take on debt to buy a home; saving up cash to buy a home outright is nearly impossible for most people. Many also borrow to buy a car. Then there are student loans. Even though the typical graduate leaves college $23,000 in student loan debt, without them, those students’ education would otherwise be out of reach.
While all of these instances of debt may be considered necessities, often people continue to borrow for “wants” rather than “needs.” Credit card debt is often a reflection of this.
Whether you are borrowing for needs or wants, too much borrowing can rob you of your financial future. Getting ahead becomes impossible when you are servicing a high level of debt. According to Daily Finance, “The average American owes approximately $47,000.” Considering in 2010 the “average American salary was $41,673.83″, it is easy to see why it is hard to get ahead with a substantial amount of debt.
If you have debt and are tired of being shackled to your monthly payments, you are not alone.
2013 can be the year you take charge of your finances and resolve to get out of debt once and for all. If you are ready, why not join the Debt Movement?
What Is the Debt Movement?
The Debt Movement, brain child of financial adviser Jeff Rose of Good Financial Cents, is a movement to help inspire people to pay down their debt. The goal is for people to pay off a total of $10 million in debt in 90 days.
Paying off debt can be hard, and the journey to debt freedom can be long. That is why the Debt Movement is offering scholarships. They have $10,000 to give away thanks to their sponsors, and that money can be used to pay down your debt more quickly.
To apply for the debt scholarship, you must do a few things:
1. Apply by completing the Debt Scholarship Application by February 15, 2013.
2. Sign up for the Debt Movement Newsletter.
3. Track your progress at least twice per month through completing the Debt Movement’s survey. You can also track debt repayment via the Debt Movement’s sponsor, Ready for Zero.
It is important to note that these scholarships don’t automatically go to the people who pay off their debt the quickest. Instead, they may go to those who are determined despite financial setbacks.
Are you ready to make 2013 the year you focus on your debt and take the steps to free yourself from monthly payments? If so, join many others by taking the first step and signing up for the Debt Movement newsletter.
If you need support or want to share your successes or setbacks, you can join the forums at www.debtmovement.com. There you will be able to interact with others who are also on a debt free journey.
Each of us gets into debt for different reasons, but let 2013 be the year we join together and take the first steps to get out of debt.
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