If your current financial situation involves debt, you are not alone. In fact, in many parts of the world, having some level of debt is more common than being debt-free. The question that seems to elude many is “how do I get into debt and how do I stay out of debt?” As someone who has walked this journey, from $180,000 in debt to owning and operating businesses, to Acquiring real estate in various locations around the world and achieving financial success, I know this is possible. I also know that if I can do it, so can you.
These are my top 4 tips on how to eliminate debt, move beyond any money problem you think you have, and dive into the true wealth that is possible.
1. Get clarity about your current financial situation
One of the biggest misconceptions about debt is that it is immutable. When you take this stance, you tend to ignore and avoid your finances instead of considering what steps you can take to create something else. When I realized that no one was going to come and fix the financial situation I had created and that I was the only one who could change it, I stopped ignoring my finances, realized what was happening and began To use Access Consciousness Tools I have used to transform other areas of my life including transforming my financial situation. I pulled out my computer, poured myself a glass of wine, and checked the numbers. How much did I bring in? How much do I owe? How much money do I need each month to pay off debt and live the life I want? Now, the very important question, “What will it take to make this?” Ignoring your finances will never make it. If you stop ignoring and look at it then you can change it. You can change absolutely anything.
2. Be ready to step out of your comfort zone
Have you ever known someone who was in a relationship that they really didn’t enjoy and stayed in it anyway? Why is that? Most people create and stay with what they are comfortable with. The same goes for money. No matter how much money you are currently making, it is the amount that you are comfortable with. Whatever amount of debt you have right now is the amount that you are comfortable with. I know this doesn’t make any logical sense, but if you look honestly you’ll see that it’s true.
how did you grow up What was your socioeconomic status? What neighborhood do you live in now? What shaped your view of money?
What you are comfortable with is often what you are comfortable with, and if you are not willing to step out of your comfort zone, limit the amount of money you can receive. Ask, “What amount of money am I comfortable with? Well, what would it take to get more and get out of my comfort zone?”
3. Stop your financial madness
Two weeks after I got rid of my debt, I was back in it. Simply that way. Einstein’s definition of insanity is doing the same thing over and over again expecting different results. I knew if I wanted something different, I had to choose something different. I started to ask, “What do I love about getting into debt?” Again, this doesn’t make any logical sense. Why would anyone love debt? Yet when you create it, there’s something you love about it. When I asked this question, I became aware of so many things. I realized I knew the power of debt so well. It was familiar. It was comfortable. I knew that fear or panic when paying a bill and wondered where the money was going to come from. Or the thrill of getting a last-minute job so I could take care of all my expenses.
If you want a financial reality that is different than the one you keep repeating, you need to go to the other side. Ask, “What do I like about getting into debt? What do I hate about having money? What is something else I could choose now? What change do I need to make? What action can I take?” Make the demand that you will have something else. Ask questions and act. Every single day. Even if it’s just one step, take it!
4. stay alive
Whatever your current financial reality, it is important that you move on. Far too often people look at their debt and decide that every extra dollar that comes in needs to be used to pay off that debt. Choosing to do so will take away your zest for life, which also limits the amount of money you can receive. Money follows joy. Happiness does not follow money. This is a very important piece. you still have to live you are allowed to live
Look at the dollar amount of your debt and ask, “How long will it take me to pay this off?” How much money can I set aside to pay off? Be aware of all of this. Keep choosing the things that bring you and your body joy. Give yourself permission to live and enjoy life while you are on your way to joyfully getting out of debt.
Changing your financial reality is a marathon, not a sprint. Now go ahead.