Mary Hunt was cheating on her husband. Her tryst, though, wasn’t with another man – but it had the power to destroy the marriage just the same.
The secret Mary hid from her husband was about her financial infidelity – to the tune of $100,000 in credit card debt.
Money problems are one of the leading causes of divorce in our nation. Granted, most couples don’t carry a credit burden as deep as Mary and her husband’s. The average U.S. household credit card debt stands at $15,252 – but in today’s tight economic climate that amount can also feel like an insurmountable mountain.
But it’s not. You can get out of debt.
Mary Hunt did. It took hard work, sacrifice and years of diligently staying with it – but Mary and her husband finally made it to the other side.
In today’s broadcast, Mary – now a popular financial expert – talks about the common financial pitfalls that can harm marriages and families. Most couples don’t rack up debt overnight – it’s something that happens little by little, one decision at a time. During our conversation, Mary reveals where faulty thinking leads to poor decision-making, and how those choices add up to big debt over time.
Incidentally, “Avoiding Common Financial Mistakes” is a good conversation for high school students to listen to as well, because America’s problem isn’t just with credit card debt. Today’s college graduates are carrying more student loan debt than ever before – and it’s impacting how they lead their lives and even when they choose to marry. The average amount of student debt for the class of 2012 was $29,400. Time Magazine recently reported how these loans are even hurting the economy. That’s why it’s a good idea to make sure your child or grandchild is equipped to make wise choices before they go away to college.
And for those of you serious about taking charge of your finances, be sure to check out Mvelopes. Focus partners with the Money4Life Center to provide this free online budgeting tool that manages personal finances through the trusted envelope budgeting system. You can visit Mvelopes online at http://www.mvelopes.com/focusonthefamily.