Today, the lion's share of credit card debt is handled by national banks, they hey never see you, and if you can fog a mirror, you can get a credit card.  Without the personal help from banker that care, we have all been made Ppresident and CEO of our own private banks and told that we can "loan" ourselves untold thousands of dollars and that its okay. Doesn't matter if you go deeper into debt.  Just pay the minimum, right?

So how do people spend more than they earn?  As far as I know there are only two ways.  One, you voluntarily spend it (how is this big screen TV by the way?) or something catastrophic happens (sickness, death, etc.)  We'll look at the catastrophes in a minute.  For now, let's stay on the topic of voluntary indebtedness. 

Most people can avoid credit card debt, but choose not to.  We all are marketed umpteen millions of times a day and we are all programmed by the media, the Rockefellers, the banks, and others to make us want to have the best and to treat ourselves generously.  Well, when you spend more than you make, it's a problem no matter how it happened.

Here's the key.  It all starts out a little at a time and you stretch your salary a little further each week to help pay for "the nice thing" we all like to have.  Add to this excessive credit card interest rates and late fee charges, all of a sudden these salary-stretcher find that they were having difficulty keeping up with all of their important expenses, like rent, mortgage, food, clothes, electricity, etc.

Many people use credit when they don't have the cash available to buy something they want, (not need) and don't take the time to consider how long it will take to pay off that impulse purchase. When I wrote this it would take you 70 months, or almost 6 years to pay off a credit card bill of just $1000 at 12% interest (which is low) and you made the minimum payment of just $20 a month.  You would also pay $396 in interest.  Does this sound like a good investment to you?

When you start down the debt spiral you really don't sense that you are in hot water until it's too late before you realize just how far you've gone into debt by using credit cards to make purchases and then not paying them off in full when the bill arrives.  Many people fall into the "it's only" trap of "It's only $20 a month.  It's only $15 a month."  Pretty soon you find that all of these "it's only's" have you in debt way over your head.

So-Called "retail therapy" is one reason for people spend more than they make and often times find themselves overwhelmed with debt. There are some studies that indicate people who are unhappy about something can make themselves feel better by shopping.

Many times the people who don't have as much money as they would like find themselves at the mall with their credit cards so they can, "feel like a consumer," or to "forget their troubles."  If this is you, you need to pay attention right now.  From now on, keep just one card in your purse or wallet, that way you cannot spend more than you have.

Spending more than you make on purpose is your choice and only you can correct this pattern.  Take the time to visit my private library for more information on spending, debt, and how you can market your way out of debt faster than you thought possible.

As the term indicates, emergencies are not planned, but should be planned for.  Experts agree that you should have at least three months (better to have six months) of savings that can stave off any emergency or disaster.  Right now Americans save at an all-time low, about -4%.  Yes, that number is right.  Overall we save less than zero.  What that means is a lot of people have no safety net and are on the verge of collapse financially almost all the time.

Number three, Divorce.  This is also one of the main reasons people declare bankruptcy and again, it is (usually) not planned or planned for.  While it may be very hard to do, if there is any way to keep the divorce amicable, it will cost you less, put les stress on the situation, and you will not have to use credit cards to pull you out of a hole that can be so deep, you may never see the light of day again.

Number Four, a Death in the Family.  This, by far is the most dramatic reason for going into debt.  What can you do if your spouse or main source of support dies?  The best plan is to make sure that there is insurance on all members of the family and that you have a plan for this situation.  Having no money and going into debt at a time like this makes the situation very unbearable.

Number Five, Loss of a Job.  This happens every day in every community in America and based on statistics, you will be fired, outsourced, downsized, or choose to leave the job you have right now within the next two - five years.  What will you do when this happens?  Start planning now and you'll have control over this situation and not allow the situation to have control over you.

The Problem:  Credit cards make borrowing and paying money back easy. They also make going into deep debt easy. First, you need to know something about who actually gives you credit and your credit cards.  American Express, Visa, MasterCard, etc., do not give you credit cards; banks or other credit lenders do. Your bank gives you a credit card, and establishes a credit limit for you they think is one that you can manage.

You then spend money and pay later, over time - if you are like most people. Every time you use a credit card, you are taking out a loan and the bank trusts you to pay off this loan.  One of the reasons that this type of debt is called "revolving debt" is because every month you are given a new loan for the total amount owed on each card.  In other words, you do not have a certain "term" or time limit on the loan, so it therefore revolves.  That's also why your interest rates can go up or down every month.

The Debt Spiral:  Many people use their credits cards to buy many things; food, clothes, school supplies, etc.   If you pay your bill in total to the credit card company every month, then you have the system figured out (use their money for 30 days, interest-free).

But if you buy something big or always use the card, and pay the total balance off in two or three months, you're still okay because the amount of interest is negligible.  For my credit cards I choose to pay them in full, or if I do have a large purchase, plan to pay it off in 90 days.

Here is the problem millions of people pface  If you make no payment, or pay only the minimum amount due, and your total debt increases every month, then you are already in The Debt Spiral and it is very hard to get out of it. In this case, I am being foolish. If this sounds like you, you must take action today to reverse this trend or, like a toothache, it will only get worse.

It's Not All Your Fault: There are many way to get into debt, but an important thing to remember is that you are in control, even though the system is rigged against you.  You are bombarded with advertising and your children (and you) are under a massive amount of peer pressure to have the best, or the biggest.  It can be hard to say, "No."

Take a moment to register for my free library with dozens of audios, videos, and documents that can help you get out of debt and market your way back to financial health.  There is also a "Members Only" Library with many additional strategies and systems that allow you to Dump Your Debt, starting today.items to be purchased at a low price. Click here and  to take look at the great line-up of items in the "Members Only" Library.