The number one reason you can’t get out of debt is because you don’t want it bad enough.
Until getting out of debt is more important than:
- That $4 latte
- Those new running shoes
- Happy hour with your friends
- Netflix
you’re going to struggle.
Until you are willing to work 3 part time jobs, it’s not going to happen.
If you are not truly, 100% devoted to getting out of debt….it won’t happen. Until that shift in your brain happens, you’ll continue to fight yourself. You’ll be swimming upstream.
Your brain is the most powerful tool you have to eliminate debt.
It’s only in the last year that I’ve realized how powerful your internal thought process is to getting out of debt, or becoming more financially stable.
Before you can be successful in cutting expenses or increasing your income, your mind has to be in the right place.
Getting out of debt requires sacrifice, but if your mind is right, those sacrifices become almost enjoyable, instead of unbearable.
Sound a little tough? Well, no one said getting out of debt would be easy. If it was, everyone would be debt free. And that certainly is not the case.
Right now, I’m still in debt. Do I want to be? Of course not. That’s why I’m working two jobs (my own business plus Lending Club). That’s why I’m learning to cook more. That’s why I play board games instead of drinking games. I want it more than just about anything.
Is desire the #1 reason you can’t get out of debt?
{ 6 comments… read them below or add one }
Hey DK, great post! While it is pertaining to debt, that is the number one reason for people not to achieve what they dream. You must be passionate and work 10 times harder and smarter than the next person- and you are proving it as you work your way out of debt and tell your story!
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It is a difficult scenario because you can make sacrifices, but still want to enjoy life. Sometimes the sacrifices are so big that they are hard to fully take, which is why it is difficult to get out of debt.
Very practical explanation you have provided here in the post of yours. Here you have explained why a family man is unable to get out of debt in spite of having his complete wish to eliminate his existing debts and it is very much believable to all.
You are absolutely right! I totally, totally agree. I am self employed, and have had customers who don't seem to care for my prices, yet they can afford several $50 pairs of shoes and regular shopping sprees. You know, I'm not making light of the recession at all, and I know many, many people are losing their jobs. But I think that many people can still make it through ok if they change their habits–good clothes can be bought at thrift stores, good meals can be made at home with having friends over for an enjoyable evening, the news can be read online, etc.
Again, great post!
Great post! I love how you focus on the little things. Many of my clients always think there is something major that they need to change in order to get out of debt…WRONG! Its the simple things as you mentioned. Thanks again!
This is really an interesting and informative post. Till now, I have read only how we can get out of debt. But here, you have pointed out why we are unable to get out of debt.