To paraphrase Tolstoy: “All debt-free families are alike; each indebted family is indebted in its own way.” There are many ways to get out of debt, but the key is to find the one that works for you.
So what’s the game plan?
Step One: Don’t Be Intimidated
No matter how you came to be in debt, don’t be intimidated by it. You can do this. Take a deep breath, repeat that to yourself 10 times in the mirror, do whatever it takes to psych yourself up because you will become debt-free.
I understand that debt goes beyond your bills and bank account. It can affect people consciously and subconsciously for a wide variety of reasons:
- Debt is about personal finance, that thing that everyone is expected to know, but no one teaches you how to do it. Therefore, it can be embarrassing and intimidating to ask for assistance. Let me assure you, managing your finances is intimidating and frustrating for everyone, some are just better at hiding it or have enough money to hire other people to deal with the frustration and management.
- Debt can feel confining. The impending bills loom ominously and restrict what you can spend your money on and forces you to make difficult choices.
- Debt feels personal. Being in debt can affect your perception of yourself. As I mentioned to my sister, remember that money and wealth are NOT measures of your worth. Your worth is better measured by how freely you share your skills and talents with others.
Now that we’ve brought these monsters to the light, we can look at them and see them for what they are: scary-looking creatures, but they’re not actually big enough to stop you from doing anything. Their shadows just made them look big. You will overcome them.
This is part of a continuing series on becoming debt-free.