dating engaged or married you're at the right place thank you for dropping by I
am Kadrian Thomas and on this channel every day I share one video of tips
of how you can enrich and enhance your relationship now today's topic is about
credit card debt and your relationship three of the major factors that destroys
or disintegrate relationships and marriages are money that's number one
communication that's number two sex which is number three but I'll only talk
about a part of money today which is that of getting or having credit cards
now nothing is wrong with having credit cards credit cards are not bad I mean
people like Dave Ramsey they teach that you should cut up your credit cards and
you should throw them away and so on and when I read his book I had that concept
and I held that concept but I no longer hold to it because the problem is not
always a spending problem the problem sometimes it's an income problem and the
credit card is not the problem you know being frugal I mean all of us have to be
frugal at one point or another in our lives in our marriages in our
relationships and whatever we do but you want to be at a place where you don't
have to be frugal what if you could have so much money that expensive becomes
cheap that's where you want to be able to be now as it relates to credit cards
you know a lot of relationships are being destroyed because of the weight
that comes with the debt that's in the back end of credit cards
the average American for example owns at least three credit cards two to three
credit cards and the average American also owes more than $6,000 on their
credit cards and when you check the statistics by the Federal
Bureau the statistics that came out in 2017 you realize that the debt is
climbing over more than 1 trillion dollars you know of credit card debt in
the US alone and the average household in America owes more than $16,000 in
credit card debt now when you think about it most people end up in debt with
a credit card not for things that are generating
income because that's the difference between the rich and the poor the rich
leverage other people's money in order to make more money but the poor use
money to buy stuff like shoes and clothes and pay utilities and so on the
rich spend differently but the middle and lower class of society spend money
on a whole different level you know and when you check the average household in
America the annual income is between 25 and 35 thousand and the middle-class is
about 59 to 70 thousand right annually and then owing more than 16-thousand in
credit card debt and then the whole debt of the average family or average
household in the United States is about 137 thousand dollars so imagine a
household taking in only 35 K per year and owing 137 thousand dollars can you
imagine how much that is the disparity between that it's a large and a huge gap
now the problem as I said is not with credit cards it's with the spender
okay what the banks and the lending institutions have done over the years is
to play on human psychology they have studied this thing very well and so they
know that we are creatures of habit and so for many people
when they go out to shop once they see something that's bling they're going to
they're going to swipe right they're going to swipe and they're going to buy
things or stuff unnecessary things unnecessary stuff and so as a young
person going to the bank let's say you go for a loan like I remember the first
time or it was the second loan that I was taking to get a car to get a newer
version because my old car was problematic and all of that and so we're
getting a car and so the bank said okay alright we in addition to the car we'll
give you a line of credit for an additional five thousand US dollars now
what happened is that they have studied human psychology and they know even
though you are ignorant of credit cards and how to use them they're still giving
it to you if you go to the bank to borrow a loan to go for a degree to take
a bachelor's or masters or PhD you're going to go through hoops and getting
that loan or if you go to the bank for a loan to start up a business unless you
have certain amount of capital in the back end they won't give you but you can
go to a bank and without even money in your account just prove that you have an
income stream and they will give you a credit card and so you know they say
okay we'll give you an additional 5,000 we'll give you another credit card
another thousand or two thousand and because I wasn't nervous you know I was
a novice to this I ended up taking the bait and what it did was gave the
illusion that we had money and you know when you reach out and you help family
members and you help friends they think that you have money when really and
truly you are spending other people's money and basically you end up running
into debt and what it does it brings on a certain amount of pressure on the
relationship because when your cash flow dries up when the credit card payments
are not being and you don't have money coming in the
backend it brings a lot of strain on the relationship on the communication on the
lovemaking on every facet because money destroys lack of money destroy or will
destroy your relationship within a second and unless you really love your
partner unless you love your husband and you really love your wife you're going
to sit down and you're going to make a plan and work through it so I'm not even
telling you to be careful about credit cards as much as I'm saying you should
be knowledgeable of how to use a credit card so I'll suggest to any young person
who is just coming out of college and you are entering into a marriage that if
you're going to take a credit card that you do your research and you get a
better understanding of how to use a credit card to your benefit rather than
just getting a credit card and buying clothes and buying hair and buying
makeup and stuff like that if you get a credit card with a $5,000 limit on it I'd
say to you go do that course that could help you to generate five grand or go
take that class that could essentially help you to have additional income or go
invest in something that can turn a dollar not go use a credit card to buy
food and clothes and no when you have money cash flowing and then you are able
to clear your credit card because one of the secrets that a lot of people don't
know about credit cards is that if every month you clear your credit card before
the due date you don't pay any interest but when you only make the minimum
payment that's when the interest keep going up up up up up and before you know
it you're 6,000 or 10,000 your $15,000 in credit card debt and then it strains
and weighs down the relationship and something that you had good going
because of your poor spending habits and lack of income because in some cases its
not just poor spending habits but you have an income problem and with the
income problem coupled with poor spending habit then that compounds the situation
ways down the relationship and something you had going good just go
side way and you may find that your relationship is really in a rut so it is
imperative that you do your research about credit cards and not just because
the bank is offering to give you extra money because your bank may qualify you
or your job may qualify you but you may not be qualified what do I mean by that
I was qualified to get X amount of money on a credit card a line of credit to
take out a car but I was not qualified because I was ignorant of how to use a
line of credit to my profitability I was ignorant of how to use a credit card to
my profitability and so I did what everybody else have been doing and has
done we're use a credit card to pay bills and buy food and to and and take
money off it and to give people and all that kind of crap but the rich what they
do they leverage so they use their credit cards leverage other people's
money to make more money and then that way you can pay the interest whatever it
is and that way you can pay off all your credit cards on one additional point too
is that when you have a credit card you don't spend cash and credit at the same
time unless of course you're shopping at a place where they don't accept credit
cards and where the world is that right now hardly anywhere that doesn't accept
credit cards so you want to be able to spend cash only or credit only based on
what you're doing because if you're spending cash on spending credit it's
kind of counter productive so when you spend credit only you dump all your cash
or you dump your paycheck on the credit card so it clears the old bill and then
you know by the 20 or 25 days depending on the cycle of your credit card comes
around you realize that your paying a limited amount of interest so credit
card debt can really sink your relationship in the rut and you and
your spouse would need to get together sit down plan some new strategies new
spending habits that you're not going to incur any new debt until you have
cleared the old one sacrifice if you may sacrifice if you have to to not incur
any more new debt on the old credit card and don't go taking another credit card
on top of the ones that you already have unless you are going to invest in
something that is going to bring you some returns on your investment in a few
weeks or a few months where you are able to clear those credit card debt because
credit card debt may cause the death of your relationship so leave a comment
below if you have not yet subscribed to my youtube channel what do you think do
you think credit card debt destroy relationships and if you're dating
engaged or married remember that this is where every single day I share one video
of tips of you can enrich and enhance your relationship i'm Kadrian peace out
For more infomation >> Dr. Phil On Couple Practicing 'Relationship Rescue' Reconnecting Exercise: 'This Will Be A Game-C… - Duration: 3:34. 
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