One of the things that attracted me to Arvest is our mission statement: People helping people find financial solutions for life.  I am personally driven to help people with their finances.  It is very gratifying to know I have helped someone achieve a financial goal such as planning for retirement or college savings.

It is even more gratifying to help someone begin to budget properly and end the cycle of overspending and being under the burden of too much debt.    Many people do not want to admit how much debt they have but the numbers do not lie.  The average American saves less than 2% of their income and has an average credit card balance of $9205.  Interest owed on that balance would be around $1,500 per year. 

High levels of debt bring on high levels of stress that impact your health.  A recent poll by the Associated Press reported the following among people reporting high debt stress:

• 27 percent had ulcers or digestive tract problems, compared with 8 percent of those with low levels  of debt stress.
• 44 percent had migraines or other headaches, compared with 15 percent.
• 29 percent suffered severe anxiety, compared with 4 percent.
• 23 percent had severe depression, compared with 4 percent.
• 6 percent reported heart attacks, half the rate for those with low debt stress.

It is hard to break the cycle but it can be done. If you have too much debt you owe it to yourself and your health!  You may think that you can’t do it because you do not make enough money but it is possible.  Let me tell you about Anne Scheiber.  Anne retired from the IRS in the mid 40’s with $5,000 in savings and an annual pension of $3,150.  That would be equivalent today to about $44,000 in savings and a pension of $27,500.  When she passed away in 1995 she donated her estate of $22,000,000 she had amassed on a small pension to a local women’s college!  Anne was a miser but there is a happy medium that will allow you to make on a small budget.  You can do it and it would be Arvest’s pleasure to help you!