Let’s wrap up this week’s topic of the essential and permanent lifestyle changes that are going to be needed to be successful in your debt reduction plan. Debt reduction lifestyle changes must be made.
In hindsight, you’ll thank yourself for making these changes, but during it, you most likely are going to really hate what you are doing, and it is going to be annoying at best, if not painful at times too. Remember how long it took you to build up this debt, it is not just going to evaporate like the morning dew, you are going to have to work at it, every day, and some days are going to be better than others, but it is a journey, not an end point. Your goals are what you must keep in mind, every time you grumble about how you wanted your morning cappucino, or not buying your wife the diamond pendant for Christmas for $1000 (and instead putting that money on your line of credit).
Keep at it, you can do it, if you give yourself a chance, but remember if it was easy, then nobody would be in debt, now would they?
hey cajun..
I agree 100%..
I’ve spoken with many people whose debt has destroyed them physically, emotionally, etc.
Debt is something to not be messed with.
My comment was a little more tongue in cheek. ie.. if you want to boldly spend with your credit cards, you should be willing to put in the time to increase your value as an employee or entrepreneur so as to be able to properly pay off your debts.
People are very excited about instant gratification, but not paying off the bills when they come in.
I do have a concern about paying off debts as a contractionary policy. sometimes people get so niggly about their spending etc, that they get very conservative with their earning ability.
While it’s good to be fiscally responsible, this shouldn’t be a disincentive to people to growing as people and earning more.
Financial Maturity Blog