How to Get Out of Debt

How to Get Out of Debt

I’m going to give some practical insight in the first few paragraphs for the non-premium subscribers and it should be enough to help you without an upgrade. 

There is a very real state of mind that keeps a person in a cycle, be it of success or of failure. Inside of that cycle there are certain thoughts that would never even occur to the person who is in it.

I’ll give an example from my own life. I remember I had a car with a leaky tire. I drove that car for years and always had to be diligent to put air in the tire. As fall turned into winter and the east-coast weather turned cold, that tire pressure light would come on like clockwork. And, far more frequently than in the summer, I would be at the local gas station’s air compressor filling up that tire. 

It was always a nuisance. On the way to work, I need to stop and fill the tire, I’m late so I’ll do it on the way home. Coming out of work and what do you know, the tire is mostly flat and I need to limp to the gas station. And, so on and so forth.

Fast forward a few years and I’ve just bought a set of new tires (different vehicle) and I thought nothing of it. In fact, I got the nicer (more expensive) set because they had good reviews. A few days later as I was driving past that gas station I suddenly blurted out WHY DIDN’T I JUST GET A NEW TIRE??????

It was a real forehead slapper of a moment. Get this, it never crossed my mind to buy a new tire even though the one that I had CLEARLY had a rather substantial leak. However long I drove that car, barring a complete blowout there was no scenario in which I was going to buy a new tire for that car. It literally never even occurred to me.  

I say all of this to make this point. Because of the cycle that you are in, there are certain thoughts that literally will not cross your mind. You are working within a framework that necessitates your continued participation and ignorance. If you’ve ever heard a rich guy say something like “if I lost it all today, I’d be a millionaire again in a year,” that person was speaking from the opposite mindset of yours. Break the cycle.

I hope this helps if but a little. The actual steps to getting out of debt are for premium subscribers. To the rest of you, think about what you just read and try to break the cycle in small ways. (Paying a debt, forgiving a debtor, practicing consistency, etc).

Love you.

Subscribe to Premium to read the rest.