Michael R. Scotch

Is credit card debt inevitable?

Despite what you may hear about credit cards, getting into overwhelming debt with them is not inevitable. In fact, millions of credit customers charge regularly and never pay a penny in finance charges or other fees.


The secret is having the right mindset about the use of credit cards and having a good financial plan.


Here's five important things to know before using plastic:

  1. You don't have to owe! It is entirely possible to use credit cards regularly and stay out of debt forever.
  2. Know when short-term loans make sense.
  3. Owing is easy, but repaying is hard. Without careful attention, sinking into overwhelming debt is remarkably easy. Paying down debt is difficult because as the balance climbs, the interest compounds, and payments increase.
  4. Debt affects your credit score.
  5. Develop a repayment plan. Even if you're in deep, you can probably climb out of debt with a commitment and a plan.


Living debt free is within every cardholder's capability. The key is to always be aware of charging and balances, and address credit problems immediately.




I'm Ready to Eliminate My Debt

Newborn - Middle School Kids

Parents have several options available today when it comes to saving for their child's college education.


The first step to securing your future is to be aware of how you spend your money today.

Life Insurance

At Gmac Family Financial, we believe it is important to ensure your family is not exposed to financial risk from an unexpected situation, accident or misfortune.

Work with our team on your family financial planning


Gregg J. MacInnis


972-475-2461 | 3705 Lakeview Parkway Suites 203 & 205 | Rowlett, TX 75088


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All written content is for information purposes only. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Gmac Family Financial, LLC is not affiliated with or endorsed by The Social Security Administration or any government agency. Exclusive rights to this material belongs to GPS. Unauthorized use of the material is prohibited.