Source: 7 Ways to Be Debt-Free for the Rest of Your Life
I found this article to have some really interesting and helpful ways to look at debt and by doing so, reduce it. Most of the tips in this article are mental ways to deal with debt.
The most interesting thing on the list to me is “pay your debts willingly.” When we get a bill, fee or fine and we immediately think about all the ways to try and get out of it. Or we think about how much we wish we didn’t have to pay it. Or we think about what we could be doing with the money we are spending on it, we immediately make ourselves a slave to money. By having this attitude, we are reinforcing that money is “hard to come by” and that the services we are receiving for the debt isn’t worth it. Instead, focus on the positives of why you have to pay the debt. If its a car loan, think about how much you love the car and that you have a car at all. If its a mortgage on an home, think about the equity you are gaining and the responsibility you are showing by owning a home. If its gym fees, electric bills, gas at the pump, groceries and other necessities, take into consideration that LIFE COSTS MONEY and in order to live, you have to spend it sometimes.
I really hope this article has helped you. Lets try to focus on building wealth even in the midst of debt. Pay your debts willingly and you will slowly take the power out of its hands and into your own. Once you have gained that motivation, you will see finances in a new light and find ways to build your wealth.
To Your Success,