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Debt as I see it is a vicious cycle that Americans get caught up in.  As of 2018, there’s over $1 trillion of credit card debt in America. In 2018, interest rates have gone up four times. The feds are predicting another 4-rate-hikes for 2019. This will lead to more consumers falling behind on monthly payments.

What’s the key to avoiding debt? The ultimate key is to pay your balance in full every month. By doing this you avoid interest and can earn cash-back. Unfortunately, we don’t live in a perfect world.

Even the rich and famous, such as Mike Tyson and Donald Trump, have filed for bankruptcy. Debt can happen to anyone. Take a look at a few celebrities that have lost their battles to debt!

Debt has no specific face and it can tackle any American that lives above their means.

Today’s post will go over debt relief programs to help you quickly escape debt. We will then talk about how to pay off debt faster without a debt relief program.

What Golden Financial Services Can Offer You

That brings me to Golden Financial Services. Here at Golden Financial Services, we strive to give consumers the ability to live debt-free with ease.

Behind on payments? Unfortunately, your accounts are on their way to debt collection status. The good news is, once this happens, your original creditor will sell your debt to a debt collection company. When credit card debt gets sold, often paperwork gets lost and information turns inaccurate.

What is Debt Validation?

Why’s that good news? You can then dispute your debt with debt validation and may not have to pay it. If your creditors can’t prove the debt to be valid like they often can’t do, you may not have to pay it and the debt could come off your credit entirely. Now you’ve gone from in debt, to financial freedom, all within about 24 months or less.

If your debt is proven to be valid, at that point a professional negotiator can settle it for a fraction of the total owed. You can get one affordable payment on the plan and become debt free in around 36 months.

The million-dollar question is, how do you avoid falling into the pit of debt?

Today’s blog post is a blueprint to the Golden Financial Services method of staying out of debt

Today we will teach you debt relief options to avoid the vicious cycle of debt, and provide you with educational resources to assist you on your journey.


Let’s start with high interest. First off, don’t get a credit card if it has a high-interest rate. Or if you do decide to obtain a high-interest credit card, make a vow right now to never let a balance sit on that card. At the end of the month, pay off your bill in full and avoid interest altogether.

Take a look at this awesome “Pay off Credit Card Debt Guide”.


The bottom line is, NEVER pay only minimum payments.  This is a sure way to stay in debt.

Realize that if you pay only minimum payments you may never pay off your debt. My definition of “minimum payments” is, “a strategy that the banks use that allows them to continue charging fees for sometimes 10-20 years and possibly even longer.” On the opposite side, “a trap to keep consumers paying fees on a particular debt until the day they die.”


How could I possibly avoid the inevitable factor of high interest?  If you have a high credit score this will allow you to obtain a low-interest loan. 

It is also important to shop around and find the right bank who is offering you the best rate.  At NerdWallet you can find the right credit card with the lowest rate.

Need help improving your credit? Here are some excellent tips.


Worrying about losing your home can be a devastating nightmare. Don’t get into this type of dangerous debt.  When shopping for a home don’t base the mortgage payment that you think you can afford on what your paycheck has been for the last few weeks if things are all of the sudden going great at work.

Look at the big picture and the longevity of your paychecks. Is your job long-term? Did you factor unexpected expenses into your paychecks?  Don’t live above your means and foolishly.

Have you heard of the “30% Rule”?

I read about the 30% rule at a site called Ready For Zero.  It says “you can afford a mortgage payment that amounts to 30% of your gross income.”



Is it really worth driving that fancy car just to look cool and now you’re stuck in debt and on the urge of having ruined credit? 


Start with making a budget.

href=””>Here is a template that you can use for free to make a budget.

This will provide you with a summary of where your money is going.  A budget analysis worksheet allows you to get a visual of what’s coming in and going out. The goal is to find expenses that you can cut. There are ALWAYS expenses somewhere in life that you can eliminate.

Once you find expenses to cut, cut them!

Then start saving and investing. On top of having a regular emergency savings account, also open an IRA. You can open an IRA for free at a place like Vanguard. Then set it up for a portion of your income to automatically be deposited into your IRA every single week. Now your saving!

I have seen Roth and Traditional IRA’s that earn more than 15% interest. For example, take a look at the Vanguard Target Retirement 2040 Fund (VFORX).

My father once told me that “if I could save up to one million dollars in an IRA, that would earn me $40,000.00 per year on average, and I would never even have to work again”.

Instead of buying a fancy car, invest in an IRA.


I don’t care how big or small your income is. Every single American has the ability to save.

If it’s too late and you’re already buried with credit card and unsecured debt, relief services are also available.

Contact Golden Financial Services for a free debt relief quote at 866-376-9846.  Take a look at our past blog posts and please remember to share this if you liked it.

Also take a look at new debt relief options in the following states:

>Take a look at new debt relief options in Arizona.

>Take a look at new debt relief options in Georgia.

Take a look at new debt relief options in California.

Take a look at new debt relief options in New York.

Take a look at new debt relief options in Texas. 

Take a look at new debt relief options in Maryland. 

Take a look at new debt relief options in Florida.


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