1. You don’t have to put your life on hold.
While there is nothing wrong with debt, unmanageable debt is another story.
Think of debt like a seesaw. The more debt you have the less ability you have to save.
No savings means life gets put on hold, unless of course you take on more debt to fund what you really want to do in life.
Truth is though, there are only so many times you can get away with a bandaid before you are going to need surgery.
Reducing debt to the right manageable amount for your personal circumstances and you open the door to adding back the fun and enjoyable things into your life.
Use the debt calculator to find out where you are on the Debt Scale
2. Debt management is a way of life, not a quick fix
Habits that allowed your debt levels to get where they are don’t change if the debt suddenly disappears.
That’s why most people who consolidate a bunch of debts end up right back where they started.
It’s not the repayments that creates the debt problem it’s the choices and habits made along the way.
Managing debt levels so they go down and not up takes time and focus to firstly identify and then change the habits that created the debt.
Replacing them with better money choices doesn’t happen overnight, it’s not a quick fix but it is possible when you become intentional about what you really want.
3. Debt is not a solution. It’s a trap
These days debt seems so easy to get whether it’s that long-term 5yr car or personal loan or that short-term 4 week EZY Pay option.
No matter what form it takes, it is simply robbing you of your future money and lifestyle.
One of the main reasons we gravitate to debt so easily is the debts we already have simply get in the way of our ability to save. We become trapped from building our own resource.
It’s also very attractive spending someone else’s money to get what we want right now.
When you can turn that around and save the money first you then find yourself thinking twice about spending it. You want to protect it.
To test this concept try this.
Instead of putting something on Ezy pay tell yourself you will be back in 4 weeks to pay cash and instead save the money first.
Then see if it still has the same attraction for you to spend your money on in 4 weeks time.
Chances are you will change your mind or use your cash for something else of better value to you. Now you aren’t trapped, you are experiencing freedom.
Getting the fun back into life, developing habits that create better money choices and getting away from seeing debt as a solution takes action and a decision.
If you would like assistance head to www.moneytrainer.co.nz and schedule a 30-Minute FREE Discovery Call’