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Debt is a state of financial insecurity. I have seen people become emotionally controlled by their debt. I have seen how a debt-controlled mindset leads people to experience anxiety, sleep disturbances, health problems, and relationship problems.
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HOW TO GET A DEBT- FREE MINDSET?
Debt is a state of financial insecurity. I have seen people become emotionally controlled by their debt. I have seen how a debt- controlled mindset leads people to experience anxiety, sleep disturbances, health problems, and relationship problems. On the other hand, freedom from debt is a state of financial security that makes you feel great! That is the message I want to share with everyone I meet. Your goal of financial freedom will seem impossible until you learn to control your thinking and start believing in yourself and your ability to overcome your circumstances. To survive in today’s tumultuous financial environment, you must resolve to be a “thriver,” not just a “survivor.”
To become debt-free is to change your mindset. Try these two steps as you set your mind on becoming liberated from debt: BBH Brand Guide V. 1 | 2020 BECOME MORE INTROSPECTIVE. Do not go crazy with anxiety about your financial situation. Instead, sit down in a quiet place and fearlessly and honestly confront yourself about how you handle your money. Admit your weaknesses, bad habits, and temptations. Realize that you are not able to outspend your friends and neighbors. Face your fears of being rejected if others found out about your real financial situation.
Ask yourself, “Why do I care so much about what other people think of me?” (Newsflash: you are thinking about them more than they are thinking about you!) Now, ask yourself, “How can I use my money to help myself and my loved ones in a way in which I can be proud?” By doing things the right way, you can set a positive example of financial responsibility that others can benefit from and for which they can respect you. CONTROL YOUR MONEY CONSUMPTION. Some people go over their budgets very carefully each month, while others just go over them! It is easy to spend more than you have. The question is, how do you get your budget under control?
One trick is to think of spending money like eating food. Steal a tip from people who lose weight. Dieters are advised to keep a “daily food diary” to monitor what they eat. Do the same thing with your money consumption. Keep a “daily money diary.” This will show you how much money you are spending each day, when and where. Put a small piece of paper in your wallet or carry a notepad in your purse. Every time you buy something, jot down the details of the purchase. Yes, it is inconvenient to make a note of every purchase. However, that is partly why this trick is helpful: it makes you stop and think each time you buy something. You may even be less eager to spend money because you know that you will have to log the purchase into your “daily money diary.”
To break a habit, you have to first notice when you are doing it. If you spend money unconsciously, without thinking about it, it has become a habit. A “daily money diary” helps you notice when you are spending so you can learn to control your behavior. The “daily money diary” also lets you see exactly how much you spend on those little “budget-busters” every week. Do this for a month. Then use the list to help you establish a monthly budget that realistically meets your needs.
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