Debt stresses me out. The very idea of going into debt is liable to give me the cold sweats. Too many times I’ve watched life throw curveballs at friends and family members who have then been caught unprepared with debt that they don’t know how they are going to repay.
One of the only things you can count on in life is that it won’t go as expected. You’ll lose your job or someone in your family will get sick. If you have debt, these situations end up being harder and more stressful. Not only do you have to worry about how you’re going to take care of yourself and your family and keep a roof over your heads but you’ll also have to worry about being late on your payments, having your assets seized, or ruining your credit.
An Epidemic of Debt
Too many people live paycheck to paycheck and carry sizable debt loads. According to the Federal Reserve, consumer debt in the US has skyrocketed to almost $3.2 trillion. If you use the latest population statistics, it means that every person in the United States owes around $10,200. Since that number includes children and people with zero debt – that means that the average U.S. citizen owes significantly more than that!
If that statistic doesn’t scare you straight, maybe this clarification by Kevin Tynan, Senior Vice President for Liberty Bank for Savings will. He says, “Anyone who thinks that statistic isn’t alarming needs to keep this in mind: the $10,200 per person doesn’t include debt associated with mortgages.” That means that the average person is carrying around thousands of dollars of debt even if they don’t own their own home.
I have seen people lose everything because the worst has happened and the perfect storm of debt and low savings uprooted their lives. That’s one of the major reasons why I prefer to live as thrifty as I can so that if I lost my job or something terrible happened debt would be the last thing that I had to worry about. That gives me a lot of comfort knowing that I can weather almost any financial storm.
Even if the worst doesn’t happen to you or your family, debt is a source of stress and often leads to fights between spouses. Debt can also cause you to lose sleep and it can even affect your health.
So, why am I giving you a soliloquy on debt and its evils? Because I want to help you get out of it!
Free Webinar by Liberty Bank for Savings
What’s better than something that’s free? Something that’s free and promises to help you get out of debt FOREVER. That’s just what this new webinar from Liberty Bank for Savings will help you do on Wednesday, May 20 at 7pm.
Be Debt Free… Forever is the latest webinar from Liberty Bank for Savings and is designed to help people who are struggling with consumer debt finally pay it all off and have more money to live, enjoy life and save for the future! If you want to be on the road to a debt-free future, Laura La Belle, a certified financial planner and money coach, will show you in three steps how to pay off your debts, start talking to your family about money, and free up money every month for the things you love to do. Life is short… you shouldn’t spend it in debt.
Liberty Bank for Savings is offering this free webinar, accessible via laptop or smartphone, on Wednesday, May 20, at 7 p.m. Registration is required at www.libertybank.com.
Liberty Bank for Savings
So, what is this Liberty Bank for Savings which offers such helpful webinars? It’s a bank founded on the concept of “neighbors helping neighbors” to provide each other with home loans. They still focus on serving the consumer as if they were a neighbor at five of their Chicago area locations. In addition to the Park Ridge branch, at 1018 Touhy, Park Ridge, they include three on the northwest side of Chicago at 2392 Milwaukee Avenue, 7111 Foster Avenue, and 6210 N. Milwaukee Avenue, and one in Lincolnwood at 6666 N. Lincoln Avenue.
For more information or to register online, visit www.libertybank.com.