For all of us, there's always something missing in our lives; we think if we buy it, our lives will be fulfilled. Sometimes, there's more than just a single item that's standing between us and total bliss. It's human nature; if you've felt this way the good news is, you're normal. The bad news is, you're normal.

Piling On Debt with Credit

We all know credit card use makes things more attainable. We grab lunch and dinner at trendy restaurants; we buy fashionable clothes that aren't so fashionable in a few months; and we buy tickets to sporting events that last only a few hours. Before long, you've amassed thousands of dollars on your credit card and you have no clue of the total amount until the bill arrives and you're horrified at the balance. It can be jarring, to say the least.

The Spending Memory Game

Here's something to consider: take $100 cash and spend it normally. When the $100 is gone, and hopefully, this will be longer than a day, preferably several days, think back and try and account how every dollar was spent. If you come up short, perhaps this is a lesson to you: you didn't need the items you can't remember. Obviously, they didn't have a predominant impact.

Debt Balances Soar Due to Interest

Since you can't pay that stunning credit card  balance in full, interest will now be heaped on top of that already galactic balance. So, you think this isn't fair? Well, consider this: interest is what the credit card company charges you for the use of their money. You don't like it? If you don't remember the purchases in our little exercise above, you certainly won't have the pleasure of remembering the fun you had paying the interest. You're left only with the remembrance of the shocking experience of finding out how outrageous the amount is.

Challenge Yourself: Pay Off Your Debt Game

Start small. My late father always said, "You eat the elephant one bite at a time." Add about $50 to your payment. Stop using the credit card. Next month, see if you can add $75 to the payment, then $100, and so on. Eventually, it becomes a game. You'll find ways to reduce your spending so you can add more to your credit card payment; once you start, it can become game-like.

Think about how you'll celebrate (without going into debt) when you've paid off that last dollar on your credit card balance. That will help you reach your goal of paying off your debt.

Can you remember something you bought last month that you just couldn't live without?

CategoriesCredit & Debt