Too much debt or the wrong kind of debt can keep you from achieving your dreams of financial independence.
Come on, repeat after me. “No more debt”, “No more debt”. If that doesn’t work for you try post-it notes around the house, or maybe sign a contract with yourself that you won’t use debt to fund your lifestyle any longer. There is always the freezing your credit card in a block of ice, or just cut them up. Whatever it takes, just stick to it.
For example, that $300 a month in interest you are paying you credit card company is going to cost you a lot in the long run. Instead of paying that money to the credit card company if you were to invest that money in a Total Market fund or S&P 500 ETF, you could have over $21,600 in your investment account after 5 years. Most people would take longer than 5 years to pay off that amount of debt so you get the picture.