3 REASONS PEOPLE STAY IN DEBT LONGER
They have monthly payments that could be reduced (too much house, expensive car, deluxe television cable or unlimited cell phone plans etc). Cut back where you can. Temporary pain will be worth it in the end.
Not knowing your monthly financial picture. Do you ever look at your bank account and wonder “where it all went”? Know where each dollar went and is going.
Holding cash while carrying high interest cedit card debt. Any excess cash after your basic expenses (beyond emergency funds) should be applied to your credit card debt. I’ve seen people with $50k in cred card debt that actually had $10k in the bank. High interest is a killer!