It is no secret that debt is a big problem in this country, but how do people get in debt? What causes people to spend money they do not really have? And what can be done about it? I just started reading a book called “The Smart Cookies.” This book is about five women who form a group with the common goal of becoming financially stable. They all want to be debt free, increase their income, prepare for retirement and put a plan in place to live their dreams.

These women all had credit card debt, very little savings, if any and their retirement accounts were not being funded properly. And most of them were not making enough money to give them what they wanted out of life. Within 18 months, all five of them managed to change most of these things. The book is about the steps they took to make those changes and how anyone can do the same.

The first thing that is mentioned in this book is the taboo of discussing money and the stereotypes that accompany the management of money. We do not know about the financial situation of most of our coworkers, but we will make many assumption based on the position that they have, the clothes that they wear or the car that they drive. You would naturally think that a person that drives a fancy sports car or wears designer clothes would have money and lead a very financially stable life and this could be true. But on the other hand, if these items are all financed this puts a whole different light on the situation. Just because a person has all the best in material possessions does not necessarily mean that they are financially stable. They could actually be far from it.

Getting out of debt will mean you have to talk about it. I have seen many TV shows on debt relief and often times the participants are required to expose their debt to their family and friends as part of the debt relief process. The family many times had an idea there was a problem, but the friends very seldom were aware the there were financial problems. You will have to be willing to talk about your debt if you want to get rid of it. You will also have to willing to take a good hard look at what got you there.

If you are a shopper, you may not have to give up everything, but you will have to learn to do it differently and this is part of what the debt relief process is all about. It is unrealistic to think that people are not going to spend any money. They just have to learn how to get the things that want for less and how to save for things that they want. The process can be educational and enlightening.