Let’s face it… majority of us have some type of debt. Trying to get out of debt can seem very painful, time-consuming or just straight up boring. And leaves us feeling embarrassed, stressed or depressed. But know that the debt that you have does not define who you are.
Here are 3 rules to help you get rid of debt:
1. Live below your means but within your means.
Just because you can afford something does not mean you should buy it. Because if you buy what you can afford, sometimes you spend more money than you need to.
ASK YOURSELF : Do I really need this? Or do I just want it? If you don’t need it, don’t buy it. If you’re not sure, think about it for a few days.
ASK YOURSELF : When do you buy what you need versus what you can afford, when sometimes you can afford more than what you need.
2) Challenge to live within your means & Break your money habits
Breaking a money habit may be painful and hard to do but it’s actually easier than you think.
Dr. Oz says “if you do something for 21 days you will break your habits.”
So try it. For 21 days buy only what you need instead of what you want.
WHAT IS A NEED? Need is getting food at a grocery store.
WHAT IS A WANT? Want is getting food at a restaurant.
This is a awesome way to try to create new habits for yourself.
3) Can you get as much pleasure out of saving as you do spending?
The answer is YES! Saving money can feel just as good as spending it. Think of it like this:
SAVING MONEY = LESS STRESS = FREEDOM
Learning how to save and changing your habits causes less stress which then allows you to succeed and tackle your debts.
If you’re struggling with debt and you feel overwhelmed, I encourage you to be patient with yourself. Work on breaking through your money habits with great effort! You got yourself into debt and you can get yourself out!