The word “debt” sounds as heavy as it feels. And it doesn’t matter if you’re under a mountain or a small mound of it.
Eliminating debt is one thing. Staying out of debt is another.
Each can have a lot to do with your perspective or your mindset about it.
Financial writer, Holly Johnson reminds that getting free from debt isn’t that you’re “…smarter or better than people who just can’t seem to get out of debt; very often, it’s a change in mindset that eases people into a frame of mind where anything is possible.”
Eliminate or stay debt-free with these mindset-shifts
Give yourself a break
Staying debt free this year or any other means letting yourself off-the-hook by owning the decisions that got you into debt in the first place.
This simple mindset shift could help you avoid making debt your go-to response to your financial problems. Debt creates a major obstacle in your life.
An obstacle to what? Try financial freedom!
“Own” the mindset that prompted you to believe taking on debt would improve your lifestyle. Instead, see freedom from debt as the greater lifestyle benefit.
Change your focus
Debt is a personal burden. Even so, its weight is shared by others who depend on you.
Would you intentionally place additional stress on someone you love? But that’s how debt affects your dependents.
If you’ve felt the pressure of debt before, remember how it felt. And realize that same pressure is perhaps felt by those who count on you.
Evaluate every financial decision that incurs short or long-term debt. Envision the added burden it could place on your entire household of dependents.
Focusing on others can naturally sharpen your thinking about the appeal of staying debt free.
Your debt-free focus will remain clear through two types of accountability. One, is self-awareness. The other is partnership.
Self-awareness causes you to be aware of your financial habits.
- How do you spend?
- When are you tempted to take on debt?
- What keeps you on track when you’re eliminating debt?
Partnership is being vulnerable enough to share your financial habits with a trusted person. Give them permission to routinely ask about your spending.
Frankly, its difficult to hide most purchases. It’s human nature to talk about your latest acquisition in our keep-up-with-the-Joneses culture.
Score-keeping leads to debt. But it also leads you to necessarily face your debt-inducing habits.
Personal and interpersonal confrontation can keep you accountable…and debt-free.
Celebrate the wins
It’s easy to accumulate debt. It’s not so easy to acquire the discipline to get out of debt. And depending on your grasp of debt’s realities it can be overwhelming to stay debt free.
One thing is certain.
When you taste the freedom from debt you’re more likely to keep a seat at the table.
When you’ve achieved some debt freedom savor it! The sweet taste of victory is often enough to keep you from being enslaved to it again.
Contact PCS Debt Relief about your business and personal debt relief solutions.
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