People hate it!
People hate having to change anything, sometimes regardless of the benefits that lie ahead. Change is uncomfortable and sometimes a little scary. The fear of having to face something unfamiliar can often paralyze us into inaction.
Sometimes change is forced upon us and sometimes the choice is our own to make.
So whether we like it or not, change is a very big part of who we are.
We may as well embrace it.
In terms of personal finance, change is constant. And when it comes to debt change can save you from financial destruction. Nobody wants to be buried under debt but when we let our fear of change keep us from addressing a problem, the problems only get worse.
Before we know it, we’re facing overwhelming amounts of debt, crippling stress, and possibly even divorce.
Instead of going that route, why not be proactive and face your fears. Change your habits and behaviors now and on your terms.
Do it little by little. Go at your own pace. Take baby steps in the other direction.
The changes you make will be well worth the effort.
Now I have one question for you.
What Are You Willing to Sacrifice for Your Freedom?
Part of the reason we fear change when it comes to personal finance is because we are scared of what we won’t be able to have or do. We become accustomed to a lifestyle that affords us many luxuries, but this lifestyle is unsustainable. We know it but we often ignore it because facing the truth about our situation is painful.
Living in denial, however, does not absolve us of the future consequences of our decisions.
I’m a firm believer in taking baby steps to accomplish anything. I loved the movie What About Bob and I rocked the debt snowball using Dave Ramsey’s Total Money Makeover. How you get out of debt is up to you but regardless of which method you choose, you can still use baby steps to get you there.
Now let’s talk about sacrifice.
It’s something else we hate. Sacrifice is a big part of change which explains why it’s so difficult to embrace. Whenever change occurs something is sacrificed.
Everything my wife and I sacrificed back in 2008 when we were SUPER SERIOUS about getting out of debt, we have either bought again or realized we didn’t really need in the first place. I say this to remind you that what you sacrifice now will be more available to you once you’re out of debt.
What’s the point of having a 60″ flat screen television with a resale value of $2,000 when you’re thousands of dollars in debt?
Sell the television.
Sell your car payment(s).
Sell your junk.
Give up a vacation (or two).
Stop eating out.
Get out of debt and THEN enjoy some of those material luxuries with the peace of mind of knowing you aren’t making someone else wealthy in the process. Get out of debt and pay yourself that interest!
Nothing you can enjoy now is worth the financial slavery you sign up for by using debt to enjoy it.
I know some will disagree with that statement, mainly because many see a house and education as good debt. That’s okay, but I do not recognize “good debt” because I don’t believe there is such a thing. Owing someone money regardless of what it is for is a form of slavery in my humble opinion but that’s just me.
So I ask again. What are you willing to sacrifice today for your freedom tomorrow?
Make one sacrifice or change in your life that will help you pay off more debt. Give up something in the name of your freedom but keep this in mind.
- It doesn’t have to be forever.
- You’ll be able to enjoy it or have it again one day.
- You may find you don’t “need” it after all.
My wife and I didn’t want to sell or change anything. Trust me on that. We didn’t want to but we did because we knew we were not managing our money right. We knew if we kept spending like we were and continued the same behaviors that got us into debt, our situation would have been much bigger than $26,000 of debt.
That realization alone gave us the strength we needed to just let go.
Of all the people I have attempted to help turn things around the biggest issue I have found is that they weren’t ready or willing to just let go.
In my experience letting go was extremely empowering and we realized a lot about ourselves during that time.
Get out of debt.
Take one baby step at a time.
Give up or sacrifice one thing. Just one.
What will it be?
Leave a comment and let’s talk about it.