Debt is the single most thing that will slow down your financial goals. It’s best to get out of debt as fast as you can. Debt comes into our lives when we mismanage our money, when we buy things today with a plan to pay it tomorrow and we end up paying more for it because we’re charged interest. We make the rich richer when we decide to live this way. Everyone wants our money! Credit card debt is the worst kind of debt because the high interest rates can make it feel impossible to pay it off.
Commit to not going any farther into debt. Think about what behaviors and choices are contributing to your debt and vow to change them. What habits are financially toxic to your financial future? What self talk is crippling you? Have you been placing your value on what material possessions you have? Do you think you’re less of a person if you drive an old car? Think about these things that are stunting you financially and change your thoughts and behaviors to healthier ones. It’s time!
Face your debt. Ignoring it won’t make it go away. It even makes it worse. Add up what you owe on all personal loans, credit cards, and vehicle loans. Face it. This can feel embarrassing and shameful but today can be the day you make changes and start working on digging out of the hole.
Use extreme measures to speed up getting out of debt. Digging the hole deeper will bring more stress and anxiety into your life.
Set up a free consultation with a finance coach. You’d be amazed about how a fresh set of eyes can help you decide what’s best for you. Coaches don’t tell you what to do but offer suggestions and help you stay on course to meet your own goals. You’ll be much more successful a lot faster if you engage in financial coaching. What you pay to be coached will come back to you as a blessing when you have a clear plan.
Make a plan to pay off debts one at a time. Slow and steady wins the race! It took awhile to get into debt and it will take awhile to get out. I cannot express into words how it feels to be debt free! It opens up a whole new world of possibilities in your life and you deserve that but it will take sacrifices now to get there. Consider side gigs. adding a side job to earn money to pay off your debt is worth it. Don’t let any little job get away from you! House sit! Babysit! Do people’s laundry! Deliver food. Sell things. Do whatever it takes to work on your debt one dollar at a time. You’ll make progress faster and feel so good when you see the numbers decreasing.
Inspire yourself by adding up how much money you’ll have when you’ve paid off your debts! Dream about what you’ll do and how you’ll live when your debt is gone. Maybe you’ll choose a different career? Travel? Move to another location? Provide special things for your family? Give regularly to a cause you’re passionate about and volunteer.
It’s really not about how much money you make, but the choices you make with your money. Conversations about money bring peace and clarity. It lessens stress and you know exactly what you’ve chosen to do.
Financial Planning & Coaching 
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