This is not going to be your typical rosy story about getting out of debt. Because frankly, there is nothing rosy about being in debt. It’s brutal, debilitating, and relentless.
To get out and stay out of debt, you must first understand where things went wrong. And to do that, you need to go back to the beginning.
Think back to a time before your current debt situation. What was your life like then? Were you happy, and hopeful? Or were you sad and uninspired? It’s important to establish a baseline of your emotional state during this time, as it will likely tell you what was influencing your decisions. For example, if you were happy and hopeful, it’s likely that the decisions that led you to being in debt where well intention-ed. Such as taking on school loans or other self-improvement expenses. Alternatively, being sad and uninspired can also lead to poor debt decisions. Such as; expensive luxury purchases, credit card abuse, and more.
Now that you know what was influencing your debt decisions. You can decide to change. One of the worst things one can do to themselves in life is repeat the same actions while expecting different results. So if your goal is to be debt free, you need to purposely align your actions with achieving this goal.
And although there are a variety of ways to approach becoming debt free, there are a few constants that cannot be overlooked.
The first of these is, you have to stop spending money. Take a real close look at what you are spending money on. Cut out any and all expenses that are not necessary for survival. And yes, you can survive without the luxuries you have become accustomed to.
Next you need to create a budget and plan for how you will use every extra cent earned to pay off your debt. If done correctly you will be able to pinpoint down to the day of when your debt will paid off. Know this day, and use it as motivation.
Last but not least, you need to be consistent. Yeah I know there are always things that come up that seemingly require your financial attention. Such as; Holidays, feel good purchases and other peoples problems. But if you want to stop taking a beating from debt, and regain control in your life. You simply need to say no to these things. It may be difficult at first. But remember, what is at stake is far more important.
Because when you’re drowning and the only thing that will save you is getting out of the water. Then you need to get out of the water. All the self-inflicted financial obligations that you deem important, are not. They are but shackles that bind you to systematic servitude.
Now, what are you going to do about it? Are you going to continue repeating the same actions while expecting different results? Or are you going to decide to change? The choice is yours. Choose wisely.