Are You Beating Up On Yourself About Debt?

When you hear the word "debt", whats the first thought or feeling that comes to you? For most people debt is "bad" or it becomes the "enemy" and is something that should be avoided like the plague.

Having debt does not make you a bad person. The more a situation is judged as being bad, the worse it gets. It's the judgement that you have around debt, that will keep you feeling "stuck". It's the judgement that brings out the anxiety, the fear, the stress, the knot in the stomach.

It's the old success principle: what you focus on expands. So what are you focusing on? Getting out of debt is an inside job first! What that means is taking 100% responsibility for your debts and admitting to yourself that you have an obligation, and knowing and believing that you will fulfill that obligation, by paying your creditors as quickly as possible.

No one wants to be stressed, or worry about living beyond their means. Most people are very uncomfortable talking about the subject of money and debt. And since the subject of money management is NOT normally taught in schools, where do we learn about it?

From our families, friends, co-workers etc, tv shows. These are people who mean well, and it's been my experience that they are usually passing along information that may be outdated, and no longer relevant for the times that we currently live in and may or may not apply to you and your life. It is THEIR opinions and beliefs.

Once again it doesn't make it a "good" or "bad" thing. The answer is to find a solution that "works" for you and your particular situation. Keep in mind, that once you decide to become debt free, it will become crystal clear that not everyone thinks that becoming debt free is a good idea.

Everyone from your local bank to your grocery store, want you to buy on credit. Realize that "credit" is a tool that can serve you, or NOT serve you. Here are some tips for becoming debt free.

1) Admit that you have debt, and are willing to become debt free. This is the most important step and is part of being 100% responsible, and being open to finding a solution. Without knowing where you are now, you are probably not going to be able to plot out a plan or map to where you want to go.

2) Don't add any more debt. This is all about changing habits, beliefs, and attitudes about buying on credit. Your attitudes about money/credit may have served you up to this point, and the good news is that you can now make new choices that support you. Remember "life" happens and there may be times when you may have to use credit. If this should happen DON'T beat yourself up. Just continue down your path of debt reduction and the ultimate goal of financial freedom.

3) Start to pay off the debt NOW. This seems like an obvious and simple step, and it's simple to do and also simple NOT to do. Afterall we are human beings, and change is not something that we are very comfortable with. Put all your debts on paper, so that you are clear about what you owe. One of the best strategies to debt reduction is the "something-something" principle. Focus on paying (1) creditor off at a time. This will keep your energy concentrated, and your debt reduction efforts will be more effective, than trying to pay off everyone at one time.

4) Take "extra" money and apply it toward your debt. Where can you get the "extra" money? Start to watch where you spend your money. For example: using coupons, or shopping at a warehouse club, can save you thousands of dollars over the course of a year. These savings can be used to pay down your debt quickly and effortlessly.

Keep in mind that your past doesn't equal your future. Look at your current financial situation as a "learning" experience, and an area that you are able to improve on....versus a place that you are judging yourself for a mistake. Many people just like you have been able to eliminate their debt. The good news is....so can you!!!!

©2004 All Rights Reserved

Author Info Box:

``````````````````````````````````````````````````````````

The author, Mario Castagno is the webmaster of

http://www.fcdebt.com,

a resource for debt reduction programs.

``````````````````````````````````````````````````````````

---

Eight Ways to Consolidate Debt

Next to winning the lottery, a debt consolidation loan is... Read More

The Effects of Consumer Debt

Consumer Borrowing Consumer borrowing in the UK has now crashed... Read More

How to Reduce Your Debt in 5 Easy Steps

If you have incurred substantial personal debt, consider these options:... Read More

Credit Repair? Its All Up to You

Log onto to a search engine such as google.com and... Read More

Worried About Debts?

Having trouble paying your bills? Getting dunning notices from creditors?... Read More

A Debt Elimination Process Must Be Initiated From You.

The first and maybe most important step in a debt... Read More

Debt Management - Is It the Right Choice For You?

Debt Management plans offer credit counseling clients a different and... Read More

What Is A FICO Score?

Your FICO score or credit score as it's commonly called... Read More

Should You Join a CCCS - Consumer Credit Counseling Service for Debt Relief and Financial Freedom?

Do You Need to Join a CCCS - Consumer Credit... Read More

Debt Free Living - 5 Tips To Get Out Of Debt

A few times I wonder what sort of credit system... Read More

Bankruptcy Your Best Bet?

Filing bankruptcy is a common practice among the U.S. Over... Read More

Purchase Your Future Now While It Is Still Inexpensive

Leaving school, getting a new job, or even a raise... Read More

Take Careful Consideration Before Filing Bankruptcy

Filing bankruptcy is not fun! It is a last resort... Read More

Bankruptcy Abuse

Bankruptcy is little more than a smack on the hand... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

How Do You Spell Debt Relief?

Of all the problems possible in a marriage, finances cause... Read More

Your Secret Weapon... A Budget

For many, the word 'budget' immediately sends shivers down the... Read More

Is Debt Negotiation Bad?

Educating yourself about the ins and outs of debt negotiation... Read More

What is Debt Settlement?

Debt settlement is the process of negotiating with your creditors... Read More

Debt

We all know about debt. If you don't have too... Read More

Debt Elimination

If you're reading this article right now I'm sure that... Read More

Learn The 15 Debt Elimination Steps You Must Take Immediately!

What Everybody Needs To Know...Learn The Truth About Debt Elimination... Read More

Bankruptcy 101

Bankruptcy still remains a mystery in the eyes of many... Read More

New Bankruptcy Law ? Targeting the Wrong People?

Last April, President Bush enthusiastically signed into law the oddly-named... Read More

How to Get Money When You Are Broke

(Money You Don't Have to Pay Back) 1. One way... Read More

Bankruptcy - Is It The Right Choice For You?

Bankruptcy is one of the tougher choices we as adults... Read More

Debt Recovery Can be Easy

OK, so you are up to your head in debt.... Read More

Debt Negotiation and Debt Settlement

Debt negotiation and settlement can give you a drastic reduction... Read More

Secrets to Why Debt Reduction is So Vital for Your Financial Health

Living with debt is never a good idea if you... Read More

Dont Drown Your Debts, Manage Them!

Are you among the millions of people who have found... Read More

Bank Like a Banker

The business of banking has changed dramatically over the last... Read More

Are You Beating Up On Yourself About Debt?

When you hear the word "debt", whats the first thought... Read More

Debt Consolidation and Personal Finances: Learn the Truth!

An inability to manage credit, growing debt and bankruptcy are... Read More