How to Escape the Jungles of Debt

January 23, 2020 by Chevron Federal Credit Union

Debt can feel like you are lost in a jungle with no way out. Stuck in quick sand up to your neck and the more you try and fight it, the deeper you get. You are not alone. According to CreditCards.com, American’s revolving debt is over $1 trillion and the average amount of credit card debt per U.S. adult with a credit card is $5,763.

This three-part blog series will be dedicated to giving you the tools and guidance to help you navigate out of the jungles of debt and back to the civilization of financial wellness.

Part 1: Get a map! 

One of the most important tools when traversing the unfamiliar maze of debt is a trusty map. Your map will indicate where we can find the Credit Mountains, Debt Valleys, and the all-important Financial Wellness Road.

Part 2:  Be aware of your surroundings

But a map is only as useful as the person who wields it. You must also be aware of your surroundings. The map shows topographical information and helps direct you to safety, but there are pitfalls and traps that can surprise you at every turn. When facing these obstacles, a few tips and tricks will you traverse them safely.

Part 3: Get back on the financial wellness road

And finally the journey back to the Financial Wellness Road. For those that realized they strayed from the beaten path quickly, this will be a relatively simple jaunt.  But for those that have found themselves in the heart of the jungle, lost, and at the mercy of this foreign and terrible land, we will help you begin the arduous trek back.

So tighten up those bootstraps, sharpen that machete, and apply a healthy coat of bug spray because we are getting you out of the Jungles of Debt and back on the Financial Wellness Road.


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