Is it so that you are trying to come out of debt but are unable to do so? Do you feel caught be so badly that now no way seems to be for you? Well, it is time to open your eyes and see who is impeding you from that!
Well, it is not the debt that impedes you to repay it all on time. So, who is it? Rather, who are they? Do you know they have been hiding inside you and governing you for a long time? Well, these are your wrong beliefs! So, come, let’s identify them so that you can throw them out and pay off your debt quickly.
“I Cannot Stop to Show off!”
Okay, you may have a pretty rich neighbour, friend, or a relative living in your locality. Apparently, it may seem that the so-called rich person is happy driving the Mercedes, shopping every weekend, giving a farewell to kids going to London for studies and renovating home. Well, but did you know that the same person may have a leased Mercedes, a home loan, an upturned mortgage, and a student loan or even a loan for bad credit that may need to be refinanced?
Well, such people are perhaps the most broken ones from inside. If you still follow them blindly, you may reach up to the stage of bankruptcy. So, do not follow the rich debtors as your role models.
“There Seems to Be No Hope!”
This is perhaps the worst-case scenario, as you will then not try to come out of your debt anymore. It is not your fault, as this feeling can be natural if the burden of debt is in thousands of dollars. Despite making minimum payouts for a couple of months or even a year, you see no progress in reduction due to which you start feeling negative.
If there is nothing to motivate you to keep fighting, you will simply give up. At times, rather than no scope, it is fear that stops you from thinking anything positive or taking a good move.
It is true that repaying a high debt can be overwhelming. However, at this time, just think about the people who had more debt than you and yet came out of it by taking small steps. So, if they are out, you can be too!
“I Am Addictive; Can’t Come Out of It!”
One of the main reasons that people fall into the trap of debt is their blind attachment to materialistic items. For example, if you are addicted to junk food or drinking, you feel that it is worth getting more of it to stay confident and powerful. Well, this is false. Such addictions will, in fact, bring you down in terms of behavior and values.
Further, many believe that if you can give the minimum payment, then just take it. Well, this is a sure gateway to a huge stack of debt. In reality, you pay more on monthly payments than just bringing it outright. The bottom line: Stop buying things for which you do not have the cash to pay.
“I Am Not Making Good Money!”
Okay, this belief of yours may have come from the negative people around you who tease or criticise you or by just looking that someone’s more income. Well, none of these two can be at fault; it is your vision to perceive them, which is at fault.
To know whether you are earning well or not, just make a budget. Spending more than that pushes you towards debt. If it is true that you are earning less, the solution is simple: Start earning more by selling things, doing some part-time work at weekends or switching to a better paying job.
Now you know your inner enemies! So, just get rid of them now!