Being in debt is something we all have a love-hate relationship with.We love the vacations, clothes, cars and stuff it can buy, be we hate to pay the bill at the end of the month.
But then I realized how fed up I was with paying the banks and funding other people’s pockets with my hard-earned cash. If it was up to me, I would have been debt free within six months or less, but with an income of 36k per year, that just wasn’t a realistic goal.
It’s important to create both an inspiring but realistic plan if you want to be debt-free.
Otherwise you might set yourself up for failure and end up going in the wrong direction.
The first step that I had to take when facing my debt problems, was to understand my personality with money. Once I understood the way I handled money, it made it easier to overcome those temptations, or even head them off before it became a big deal.
The way we handle and view our finances depends on many different factors: how you grew up, what you learned from your parents and all the good or bad habits you picked up along the way.
It’s vital we understand our own personalities and mindsets if we want to manage our money successfully.If we can embrace both our weaknesses and strengths about ourselves, we can quickly create better financial habits.And that’s the key to accomplishing your financial goals — changing bad habits and reinforcing good ones!Once I understood my mindset with money and what my debt pitfalls were, I created a get-out-of-debt game plan.I signed up for Ready For Zero and started plugging in my accounts so I could see an accurate picture of all my debts.Yes, the amounts were overwhelming and the interest rate on some of the accounts were more than alarming.