Things have gotten pretty ruthless and bad when it comes to personal money management and credit card debt in these days. 

When a credit card company, or a mortgage company is encouraging you to go into debt even more by paying off a debt just to get into another, you should know you are in trouble.

And that is a terrible personal money management.

Credit card debt has grown to massive amounts because of lack of money management and budgeting. 

Maybe this is from credit card companies inviting people to apply a loan or a credit at a vulnerable time.

When they know they are just going out on their own for the first time, or with little to no income.

It is like dangling chocolate in front of a kid that looks so delicious.  These people are at a period in their lives when personal money management is the last things on their minds. 

This is going to become an even bigger problem for both the consumers and the credit card companies. W

hen the income to debt ratio is greatly unbalanced, and nobody is able to pay, or in turn be paid. 

It is the truth and it sucks.

It’s not only the part of the middle class and their debts, but as well the people who knowingly get themselves into a world of trouble.

Spending way over their limits on credit cards, lifestyle inflation is another, and obtaining mortgage loans that they cannot afford to pay.

Saying that this isn’t the best way to go about things is an understatement.

One way, maybe the best way for us as consumers to begin to get ourselves out of our current mess.

And keep ourselves out of trouble for the future is to learn to live below our means and spend less than we make. 

Earn more, spend less.

This is not always beautiful and fashionable.

You will never hear this advice from the credit card companies or the mortgage companies who would be glad to obtain your assets when you default payment.

But doing it consistently and passionately could save your future.

The way to make this much easier is to create an effective and proper budget and learn to stick to it like glue. 

Budgeting is a dirty word to most, but for those who have used a budget and stuck to it, they swear by it. They are passionate about it.

Your budget acts as your blueprint for getting out of credit card debt or any kind of debt.

Your budget is also like a tool that improves your personal money management overtime.

Using a budget lets you recognize where you’re spending gets out of hand. And like a self-guided missile, you can make tiny corrections where necessary to straighten back on course. 

A good money management is same as spending less and budgeting.

Though this may sound like a painful and distressing way to live.

However, the alternative is forever being in debt can put you in an early grave due to worry, pressure and stress.

Here is another resource for you to read: Top 10 Money Management Tips