According to CreditCards.com, the average American household carries $16,007 in credit card debt. The average annual percentage rate (APR) is 14.31%.
Here’s something I’d like for you to consider… How long would it take for you to get out of credit card debt if you only paid the monthly interest and never touched the principal balance?
When you think about it, the interest that credit cards accumulate is an effect. Every effect has a cause. The cause of this interest is a balance owed to your credit card company. And guess what… You will be in debt forever if all you make is interest-only payments. Until your balance is at $0, you will continue to owe these companies money.
With that in mind, how long will it take for a person to regain their health if they only treat their symptoms? Like credit card interest, symptoms are an effect. They’re the result of something, which means they must have a cause.
Treating symptoms can provide temporary relief, just like paying the interest on your Visa can prevent them from suspending your account. But these are both short-term remedies.
If your goal is to restore lost health, popping pills every day isn’t a viable long-term solution.
Pay off the balance and you’ll get out of debt. Similarly, if you can eliminate the cause of your health problems, those costly symptoms will vanish for good.