Debt sucks. I hate it. It causes stress, sleepless nights, divorce, premature death, and many other conditions that aren't helpful to living a happy life.
Somehow we've (Americans) become accustomed to carrying the burden of debt, and have become numb to it's throbbing pain.
But, for those who are realizing that it's time to unload the debt, here are a few thoughts.
There are only two ways to get out of debt:
1. Make more money and pay it off.
2. Spend less money than you make, and pay it off. (Hint: Find your margin money - I'll talk about this later.)
I'm for real. The challenge for number one is that many people are employed by someone else who requires at least 40 hours of their time each week, and may not be inclined to pay you more money just for the asking.
The challenge for number two is that it's hard to change your lifestyle, sell your house that's too big, cook at home, quit hanging with the silver spooners, turn your thermostat a little higher in the summer, and, well, you get my drift.
Whichever route you choose to debt freedom, it's not gonna be easy.
The good news is that you can get out of debt. The first step is to come up with a plan, any plan that requires a different mindset about debt, and a plan that requires you to take action.
I recommend you find a financial coach to help you.
In my process of SimpleEconomicsTM , I have a method for finding "margin money." Margin money is money that you can free up by making a few changes to the debt and other financial obligations you already have, and using this new found money to pay off your debt faster.
By the way, number two is easier. It just requires the abandonment of false pride. That's the hard part.
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