Getting out of debt sounds like a viable option, but is debt reduction a better one? I believe that one should not put the cart before the horse. When it comes to getting out of debt, I believe the process should begin with debt reduction. The pressure to totally eradicate one’s debt may seem a little beyond one’s reach. However, using the term ‘debt reduction’ may sound a lot less threatening, troublesome, and a little bit more realistic. If you practice the law of first things, you will discover that you tried at one time to manage your debt when the first thing that was done was that you got into debt. Study why you went further into debt and you will be able to destroy the root cause to your debt problem. How you got into debt will only cause you to focus on the symptoms, not the actual problem. Intention will not remedy the problem, but being proactive will. It is not feasible to have a mental debt reduction plan because mental plans do not work. In your mind, you are working on a plan to reduce the amount of debt without understanding how you got so deep into it in the first place. Understanding the why is more powerful than understanding the how.
What I would like you to do this week to self-help your problem is write down your bills, what you owe, and your monthly payment. Put them in order so that it is easy for you to track them. Reminisce on when and why you entered the debt agreement and the circumstances surrounding it. For example-were you going through a divorce and needed the extra cash or something similar? Think of all your bills in light of the situation. This may help you to understand to some degree the habits or patterns you may have followed for years without giving it any serious thought. This can be the start of how to stop getting by and start getting ahead. Do not be intimidated by my information. I am friendly fire coming to destroy the enemy of your life. Poverty is stolen wealth and it is about time we catch this thief for the last time.
Learning to manage your time will help you better manage your life. Learning to manage your money will help you to manage your lifestyle. People do not make decisions about their lives and the things they can and cannot do. Money is the one tool that governs most people’s decisions concerning what can and cannot be done. Little money gives few opportunities for what things people can enjoy. Money is simply a tool used to extend opportunities to those who have enough of it and the privileges to enjoy just about anything their money can afford. The things money cannot finance are integrity and character. If these could be purchased and bartered for, it would not be real integrity and character. It is a counterfeit of the true value of life.
Most people give too much credit to doctors, lawyers and business owners as if these careers are the epitome of an emblem of wealth. If a doctor drives a new Mercedes, most people think his career fits the car. If a professional actor drives a Bentley, we without fail, would say the career fits the car. The truth of the matter is that there are many financially broke doctors, lawyers and actors that are broke because the career does not guarantee the skills to manage their money. Many wealthy janitors, teachers, and truck drivers gained their wealth status by making smart choices with their money. If you personally knew a janitor who was driving a new Mercedes Benz, you would probably think that he won the state lotto or something similar. Your chosen profession is not necessarily the key to your wealth, but your knowledge is.
For every one of us that succeeds, it is because there is somebody there to show you the way out.
Accept the help from others who happen to know a little more than you. As a smart man or woman, it can save you a lot of grief and further embarrassment. Get connected to the real power to change and you will make a determination that life just got easier.