Removing Debt 101
How can you start moving the needle in the opposite direction?
It can be the difference between living a full and healthy life vs. living with stress and toxic thoughts. Here are the starting points:
Recognize you have a debt problem.
Start saving (it's the key to stopping the debt cycle).
Make smart (or mindful) decisions about incurring new debt.
The only way to stop the debt cycle is to stop using debt. No matter what. For some, this is easy. I’ve seen many people make the decision that they are done with debt in their life; they cut up their credit cards and never look back.
For others, the idea of never using credit cards feels like an insurmountable, unachievable goal. If that is you, know that you aren’t alone and that you can do it. It will just take time and perseverance.
It's Like Monopoloy...
Do you remember how it felt when you got the Monopoly “Advance to Go, Collect $200” card? There’s nothing like getting extra money you weren’t counting on. In real life, I’ve seen so many people get excited about tax returns, year-end bonuses, small inheritances, and other extra or “found” money.
Then I see them get disappointed because they had dreams for the money, but it disappeared into their financial abyss before they used it. Maybe they used it all to pay down their debt, but their free spirit was disappointed with their responsible decision.
"Many thanks to Stacey Powell and Finance Gym. Five years ago I was stuck in a job I hated, $23k in debt & barely able to make ends meet. I felt horrible. With the support and skills I learned at Finance Gym, I turned it all around. I'm SO much happier today -- on many levels. If finances are a problem, or you simply want to get better at planning financial accountability, and building toward your dream, please consider thefinancegym.com."