If you find yourself having to use one or several credit cards to split up the debt load of another credit card, you know full well that you could use some help getting out of the financial hole you find yourself in. Well, the bad news is that people can try to give you all sorts of helpful advice but if you aren’t mentally ready for it, all that advice will produce the same results as pounding sand-nothing. You really have to open your mind to fundamental advice that not only lifts you out of the hole you are currently in but, if you follow it fully, ensures you never get trapped in another debt hole ever again.
Not surprisingly, the secret to becoming and staying debt-free is your attitude. Your mind conditions how you respond to the larger world. Your inner reality dictates your outer reality. Your attitude determines how you deal with money and debt.
Keep the following five tips in mind when trying to figure out how to get out of debt. Not only will they help you take the right action to liberate yourself from debt, they can also give you the right mindset which will ensure that you stay debt-free. After all, it is all in your mind. Use your mind to get the freedom from debt you have been dreaming of all this time.
Realize that you are responsible for your life
This is one key point many people have a tough time accepting. Why? It is so much easier to blame others or depend on others. The good news is that when you realize that you are responsible for your life, financial and otherwise, you can take control and when you take control, change can happen.
Don’t blame anyone when you find yourself in a debt pit
If you blame others for your financial problems, you make it hard for yourself to move on. If you can’t move on, you can’t take action to get out of the debt pit you are in. Blaming produces paralysis. You think you are doing something but you are just spinning your wheels and getting bitter.
Admit you might have a spending problem
In the same way an alcoholic can’t get the help he or she needs unless he or she admits to a drinking problem, people who constantly find themselves a buck short and a day late, can’t change their situations if they are in denial. Admit to yourself that you have a problem. It’s painful but it is necessary.
Realize that life rewards actions not intentions
Stop kicking the can down the road. Stop confusing ‘planning to get out of debt’ with actually doing something. Planning and ‘researching’ might seem like you are taking action but you are really kicking the can down the road. Eventually, you will have to take action. Make that day today.
Ask people to call you out
If you feel like you are just going around in circles, ask people to call you out. Ask them to be your accountability partner. Give them the permission to be upset when you fail to live up to your full financial potential. Don’t waste another day. Get the push you need to get out of debt.