DEBT – LEAVE ME ALONE!
Getting 
out of debt should be on the top of your things to do list this year. I know, that’s easier said than done. Getting out of debt takes money and discipline. So, how can we get out if we have no money or discipline? Do we borrow the money to get out of debt? The Bible states that the borrower is the slave to the lender (Proverbs 22:7). Aren’t you tired of being broke and having to borrow money most of the time? Every time you get a paycheck you must decide who’s getting paid and who must wait for the next paycheck. Shoot! They may not get paid on the next paycheck either. GET MAD AT DEBT! LET DEBT GO AND BE FREE! Being in debt is the root to a lot of problems such as depression, being stuck in a rut and worrying. Moreover, not having enough money for food, shelter and clothing is worst. Being in debt can also ruin your credit rating. You can’t even get a credit card for emergencies. Debt is not your friend. So, why do we allow ourselves to carry debt on our backs?
Do we really allow ourselves to get in debt? Some debts can be unexpected and uncontrollable. Like death in the family, medical expenses, loss of a job, divorce or even underemployment.
Sometimes these types of debt cannot be helped, because we were not already prepared. It is no fault of your own that these situations occur, but it is highly important to be prepared for them when they do come. Now, there are situations that come, and we knowingly or unknowingly allow ourselves to get into debt. Some examples are poor money management, living above your means, gambling, underemployment, wrong spending, no insurance and no savings.
If you want debt to stop chasing you, do whatever it takes (legally) to fight back and make debt go away. In other words, be prepared for anything to happen. This will take some time to do, so you MUST BE PATIENT, STAY FOCUSED and DON’T QUIT! I suggest starting with the Snowball Method. Look it up on google or YouTube. I’m sure this method will start you on your way to kicking debt in the butt. Remember, you may have to get extra money to do this. You can sell items in your house, get a second job in retail or something. Find something at home online (if you have someone to care for at home). You got to make up your mind that you are not defeated by debt.
By changing your mindset, you can approach debt with a more positive attitude which will lead to peace of mind. It can help to reframe your views on borrowing and financial responsibility. Here are some strategies:
- Educate yourself by learning about good debt and bad debt. Understand the interest rates, repayment terms and the long-term impact of debt.
- Set clear financial goals about what you want to achieve financially. For example, paying off student loans buying a house or saving for retirement. These clear goals can help you see debt as a tool to achieve financial goals.
Create a budget to track your income and expenses. Understand where your money goes. A budget can help you manage your debt and avoid unnecessary borrowing.- Focus on positive outcomes instead of viewing debt as a burden. See debt as good way to achieve something valuable like education or a home.
- Develop a repayment plan to pay off your debt. Break them down into manageable payment to make it feel less overwhelming and more achievable.
- Avoid comparison. Do not compare your financial situation with others. Each of us have our own unique journey, so focus on your own.
- Seek professional advice if you’re struggling with debt. They can officer personalized strategies and support to manage your debt effectively.
- Lastly, practice gratitude and mindfulness. Acknowledge the positives in your life and practice mindfulness to reduce stress about debt. This can help you maintain a healthy perspective on your financial situation.