It’s easy to think that debt is inescapable. After all, the economy is falling apart, the cost of living is going up, and the boss just isn’t handing out raises. When you let these thoughts become beliefs, then they will dictate, placing restraints on your reality and future.
These external economic circumstances don’t have to dictate your life. They are like the harsh weather and battering waves at sea. If you are sailing your own sailboat through the sea, then the external factors should not determine your destiny. Your destiny will be realized by the set of your personal sail. This is how people arrive at different places in life; outcome and result rely heavily on mental trajectories — the set of the sail.
Here are eight powerful ways to set a new sail that pulls your ship out of debt.
One: Cut out limiting beliefs and negative affirmations that are pent up in the subconscious
When getting out of debt, it’s important to find excuses to win, despite the challenges that are outside of your control. This faith strengthens the sail against the storm, directing your ship through. In this way, you are taking responsibility, activating fearless intentions.
To identify limiting beliefs, you must become self-aware of your thought-life, keeping a guard at the gate of your mind. In this way, you will consciously learn to flip the negative affirmations upside down. In this self-aware honesty, you have decided to take full responsibility for your present reality and future destiny.
Two: Write out a plan
As the negative footholds leave your mind, it’s time to take action and write out the plan. It’s time to do the math and put the numbers on paper. Include all income and expenses when writing out each month’s budget and give each dollar a name.
As the budget goes into print, it’s important to get on the same page with your spouse. If you are married, then getting out of debt is a joint venture. To make it through, both individuals must be thinking and planning on the same page, communicating effectively.
Three: Stash back an emergency fund first
When starting the adventure, put back enough cash to compensate for Murphy Law emergencies. As the law of gravity is certain on Earth, so is the law that everything is bound to wear out, need maintenance and break apart. Having money back specifically for these surprise events will prevent you from incurring more debt to rescue the situation. The ideal emergency stash varies from family to family. It’s best to just start out with one to two thousand dollars.
Four: Attack each debt intentionally, starting with the smallest
Use the law of momentum to snowball from one success to the next. Use precision and acceleration when attacking each debt. Remember to focus all energy on one debt at a time, from smallest to largest. Archers cannot hit bull’s-eyes when focusing on three or more targets at once. Aim at level-one debt first and work your way up one at a time, with focused intensity.
Five: Sell what is not being used
Sell anything that serves as a stumbling block. Excess clutter, material and toys may actually be inhibiting spiritual growth and freedom. By cleaning the slate, there’s not only extra money to throw at debt but also a freeing sensation.
Six: Lower monthly payments
Go forward by simplifying lifestyle habit expenses on luxury and utility items. This might mean eating out less or not at all. This might mean going with a cheaper phone plan, television package, etc.
Seven: Invest in your health, naturally
While buying cheap foods sounds like a way to have extra money each month to pay off debts, it may be more of a trap. Spend money on wholesome, nutritious food to boost your energy and productivity. By eating better, your immune system will be better equipped to handle sickness. Learning how to take care of the body without clinging to medical intervention can save you from costly doctor visits and prescription drugs that can bring more problems down the road through side effects.
Eight: Find a way to serve others on the side
In the quest of paying off debts, you may find yourself getting tight with money, but there’s no need to stop giving. In fact, giving wisely (but not enabling spoiled rotten behavior of takers) can welcome opportunities, relationships and other prosperous blessings into your life. Giving might mean sharing time or a skill. Serving might mean starting a side business providing a product or service to the world. If done with good intentions, this extra service may be the key to financial independence in the end.
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