HOW TO BREAK FREE FROM YOUR DEBT
At times, we only need to look at our inner mirror to truly know where we need to make amendments. Making a positive financial decision that pulls one out of debt is not that easy too. Find out why!Click To TweetHelp, I seem not to come out of my DEBT” I heard Susan saying in a broken regretful voice. How could I have gone so deep in my expenses and debt? I thought I had control of my spending but am totally wrong. Will I ever come out of this mess that I have pushed myself and family into? sobbing,….
Maybe like my friend Susan who gave me permission to share her story, you’ve also hit a financial roadblock. Never mind! that is why you are here. Maybe you’re feeling totally out of control when you think about your financial habits. Maybe you’ve experienced job loss or another major setback. Tomorrow is never promised, that is why we are financially conscious when it comes to our spending today.
Sometimes it can feel like life is kicking us harder when we’re already down. Yes, I know that feeling of confusion, helplessness and being totally out of control when you are unable to handle a situation. Maybe you’ve experienced job loss or a major setback.
Pay attention…I see you coming out stronger…. don't be hopeless! But bear in mind, whoever wants financial freedom, must let common sense, patience, and self-control dictate their wants and needs, rather than the attractiveness of something. Be a person who will rather live without certain things than buying them on credit.
I almost found myself in the exact same boat like Susan, but thank God I quickly withdrew after seeing the reasons why I need to manage my finances wisely, to avoid feeling stressed out and completely overwhelmed.
Some years ago, Susan and I attended the same Church. It is somehow the lifestyle of us women to always look gorgeous and beautiful on any occasion, which is not bad at all.
I was taken unaware when Susan flashed different kinds of credit cards to my face, telling me that is the new trend in town. Little did she know, that she was soaking herself in much debt. I opt in for one card but was withdrawn from using it because I was scared of getting myself into trouble. There were days I bought things just because they were beautiful and I just want to stare at them or hang them anywhere else in our house.
Unlike Susan who was just buying items and different kinds of stuff on credit. She appears advanced and exotic and I knew she had a good ride while it lasted….But The after effect of her decision was the financial slump. Money has a law so spend wisely. Saving for the rainy seasons is highly beneficial.
Let me not take you into more details so you can get my message. Maybe you are in the worst situation than Susan right now…don't give up, just learn from this story and the tips below can help you to actually take charge of your Financial Life.
Anything you are going through now can be reversed, only if you are willing to apply these steps. Know that digging your way out of a financial slump requires time and effort, but it is doable.
Receive strength to surmount any problem right now and declare to yourself; I am strong, I will not give up now, I am ready for the new ride to a better life.
I thank God that my life experiences and that of other people have really shaped, made me stronger and eventually helped me be on the lookout for ways families can come out of their challenges better than they were before.
Trust me friend! There are many ways to get out of a financial distress, no matter what put you in there. You can make it too! I am right now on that journey of having my financial freedom back. So pull up your bootstraps and get ready—I see some changes in my financial life and i want you to also experience yours with these steps dropped here.
Basic Law and Steps
- DO IT
Have you seen someone committed to a thing that never achieves her goals? Take Usain Bolt for an example…He is always coming first, the fastest Jamaican sprinter and now the fastest human in the world. He is able to come this far because of his dedication.I found out that once someone commits and decide to change a thing, they can actually find a path. It’s that first step out that is always the toughest. I believe there should always be a REASON for making decisions.
- Ask yourself WHY do I want to get out of my debt? Is your reason a solid one? or just because you don't want people to know you are in debt? or is it so you can feel more in charge of your finances and live a glorious life?
- What big picture do you have? Do you want to do something big in the future later? Focus on the reason and commit to it. You have to want it so much because that is one of the ways to have a successful journey. Always remind yourself WHY you are committed to your decision by writing it out on a paper or storing it on your phone.
2. BE ORGANISED
It will be hard to break out of your financial stress if you are unorganized. Make sure you gather up all of your expenses bills and everything you are paying for. Just go through each and write them down. Set up a financial plan and a budget, you can research for a sheet or planner online, print them out and start keeping records.
3. START SAVING
Money function Just like a seed. Are we supposed to eat seeds? we can eat them but that would be unwise to eat all seeds. If all the seeds are consumed then we will go hungry one day and regret never sowing any seed. Emergency savings is very important for everyone. You never can tell what may come up tomorrow.
When you are saving, it is like having a life insurance which will pay you at the end. No matter what comes your way, you know you have some funds set aside so you don’t have to take on more debt. It is irresponsible to spend money before it multiplies.
Therefore, we must also turn the money that comes our way into planted seeds. Try to do little business like selling something, taking on some side jobs, just do the honorable thing that will help you build up your finance. Money comes to people who know what to do with it; their knowledge is like a magnet that attracts more income.
4. NO MORE DEBT
Rome wasn't built in a day, any decision you have made should be taken gradually but consistently. Keep your credit cards very far from you. Avoid going into more debt and avoid those people like Susan who derives joy in always searching out for new credit cards or the other. Avoid such lifestyle and you will save yourself much stress and heartache.
5. WHAT BROUGHT YOU INTO DEBT
Like most people do. They always want to have what Mr. XYZ has. They don't mind going into debt to feel belong. It is advisable to look at what brought you to where you are now. Yes, breaking out of a financial stress can be demanding, but I believe you will make it once you set your mind to it. That is the only freedom you deserve. Try not to hold onto a house, a car, or a lifestyle you can’t afford, it can be exhausting and depressing.
Go for things you can afford, like going for a cheaper car or using public transportation to avoid extra expenses that come with the maintenance of a car. Eat more at home than outside. This can really help you support a healthy living.
Figure out what’s really important to you—your family, spending time with your husband and kids, going for a walk with your family.
These are actually the steps I am taking to having a wonderful life. I hope you got something out of this.
I need to hear what works for you too. Please drop your experiences here and let us learn from you.
Waiting to hear your take on this!