A Life of Debt?

Visual by Visual Economics   Check them out – fantastic stuff over there!

Hmmm, this looks remarkably like my life.  Here's the challenge:  Where are you in this cycle?  (And if you are not – good for you!)  How can you make a small change that will have a big effect on the rest?  For some people, it might be paying off that one department store credit card.  For others, it might be paying off two car loans.  For me, it is making those last few payments on a home equity loan.

As cute and fun as this picture looks, it is a sobering reminder about the economic life of an average American family.  While I'm a little discouraged to see how closely it mirrors my life, I'm also encouraged that I can make the future look different.  How about you?

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.