Are You Beating Up On
Yourself About Debt?
by:
Mario Castagno
When you hear
the word "debt", whats the
first thought or feeling that comes to you? For most
people debt is "bad" or it becomes the
"enemy" and is something that should be
avoided like the plague.
Having debt
does not make you a bad person. The more a
situation is judged as being bad, the worse it gets.
It's the judgement that you have around debt, that
will keep you feeling "stuck". It's the
judgement that brings out the anxiety, the fear, the
stress, the knot in the stomach.
It's the old
success principle: what you focus on expands. So what
are you focusing on? Getting out of debt is an inside
job first! What that means is taking 100%
responsibility for your debts and admitting to
yourself that you have an obligation, and knowing and
believing that you will fulfill that obligation, by
paying your creditors as quickly as possible.
No one
wants to be stressed, or worry about living beyond
their means. Most people are very uncomfortable
talking about the subject of money and debt. And
since the subject of money management is NOT normally
taught in schools, where do we learn about it?
From our
families, friends, co-workers etc, tv shows. These
are people who mean well, and it's been my experience
that they are usually passing along information that
may be outdated, and no longer relevant for the times
that we currently live in and may or may not apply to
you and your life. It is THEIR opinions and beliefs.
Once again it
doesn't make it a "good" or "bad"
thing. The answer is to find a solution that
"works" for you and your particular
situation. Keep in mind, that once you decide to
become debt free, it will become crystal clear that
not everyone thinks that becoming debt free is a good
idea.
Everyone from
your local bank to your grocery store, want you to
buy on credit. Realize that "credit" is a
tool that can serve you, or NOT serve you. Here are
some tips for becoming debt free.
1) Admit
that you have debt, and are willing to become
debt free. This is the most important step and is
part of being 100% responsible, and being open to
finding a solution. Without knowing where you are
now, you are probably not going to be able to plot
out a plan or map to where you want to go.
2) Don’t
add any more debt. This is all about changing
habits, beliefs, and attitudes about buying on
credit. Your attitudes about money/credit may have
served you up to this point, and the good news is
that you can now make new choices that support you.
Remember "life" happens and there may be
times when you may have to use credit. If this should
happen DON'T beat yourself up. Just continue down
your path of debt reduction and the ultimate goal of
financial freedom.
3) Start to
pay off the debt NOW. This seems like an obvious
and simple step, and it's simple to do and also
simple NOT to do. Afterall we are human beings, and
change is not something that we are very comfortable
with. Put all your debts on paper, so that you are
clear about what you owe. One of the best strategies
to debt reduction is the
"something-something" principle. Focus on
paying (1) creditor off at a time. This will keep
your energy concentrated, and your debt reduction
efforts will be more effective, than trying to pay
off everyone at one time.
4) Take
"extra" money and apply it toward your
debt. Where can you get the "extra"
money? Start to watch where you spend your money. For
example: using coupons, or shopping at a warehouse
club, can save you thousands of dollars over the
course of a year. These savings can be used to pay
down your debt quickly and effortlessly.
Keep in mind
that your past doesn't equal your future. Look at
your current financial situation as a
"learning" experience, and an area that you
are able to improve on....versus a place that you are
judging yourself for a mistake. Many people just
like you have been able to eliminate their debt. The
good news is....so can you!!!!
_____________________________
About
The Author
By Mario
Castagno
http://www.fcdebt.com
The author,
Mario Castagno is the webmaster of http://www.fcdebt.com, a resource for
debt reduction programs.
Debt
Consolidation
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