Being in personal or credit card debt can unravel a myriad of lies you tell yourself, hoping the money problems will disappear. Still, if not appropriately managed, it can leave you in financial distress.
There are standard lies we tell ourselves about debt. If you relate to these, it is time to acknowledge it, so that you can change them before they become problems.
I am not good with money
The number of online resources available to assist is endless. If you don’t know anything about a budget, Google it! This excuse is not a decent reason.
I deserve to spend my money
Agreed, you deserve to spend your money but not the money you don’t have (which is what a credit card is). Why spend money that is not yours.
I am in debt as I had an emergency
This is difficult as emergencies happen, but once on a budget, you need to allocate a small percent for those unforeseen expenses. Poor planning in no excuse.
It was a great deal I couldn’t miss
Who doesn’t like a deal? But if you are spending beyond your limits chasing a good deal, then your purchase decisions have become counterproductive. Don’t spend just because; spend with a purpose.
I will need to make more money
You must be living beyond your means. Odds are you will push to live further beyond what you earn if you make more money. Gain control with a budget and then pay off debts if you have an increase in your earning capacity.
I will start my debt plan next week
Why are you waiting to fix your problem? Not addressing your debt problem for another week will mean it becomes harder to overcome. Before you know it, you cannot control your debt problem. Start now, the better off you’ll be.
I know it is impossible to be debt free
This is not true. With the right plan and implementation, you can overcome debt. SR Group’s team of advisory professionals are here to assist and relieve you of the stress that the financial debt cycle can cause. To discuss your situation, please contact our team for a no cost, no obligation free consultation.
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