Welcome to this safe space. Everyone reading this shares something in common with you, they are all here to fight an invisible but heavy enemy that got bigger than they expected it to be; welcome our nemesis, DEBT.
Credit is debt’s attractive and cool best friend. You likely got attracted slowly to its charm but soon got pulled in more than you wanted.
With the ease of taking credit at our fingertips, resistance has become a losing battle for many. If you are one of those who are tensed about how to pay off debt fast on a low income to escape this quicksand of deadly debt, closely follow the below steps to fight your way out!
Beat Deadly Debt #Step1: Time To Get Hard With Priorities
In our day-to-day lives, whatever gets prioritized, gets recognized. Paying off your debt has to become your number #1 priority. When you wake up everyday, imagine yourself in a debt-free life. Free from stress, free of emotional spirals, and free to live the way you want. Now prepare to take steps towards that life.
Practical Psychology: making a conscious mental decision everyday and making your mission to become debt free can help you get clarity in times of making difficult choices.
Beat Deadly Debt #Step2: Take Interest in Fighting the Right Interest
Debt is not an easy enemy to defeat. You need to go strategic. Evaluate your statements, download credit repayment apps, or talk to your bank to understand the interest rates for bounce penalties and penalties charged over making minimum payments over full payments.
Once you know which debt source is a black hole of sucking extra money, you can work to close that one first.
Practical Psychology: Being strategic in your approach can help you feel motivated and optimistic about your chances to come out winning.
Beat Deadly Debt #Step3: Spend Like a Monk In Practice
Welcome to the minimal life, it’s the new trend. You’re not about avoiding spending money, you are about trying to live like a monk. BIG DIFFERENCE. Remember, you get to define your outlook on your situation, flip the narrative, and choose the cards you have been dealt.
Try to live and spend like a monk would for the duration of time when you are on a mission of enlightenment from debt. Anytime you have the urge to spend, ask yourself, would a monk spend on this?
Another monk’s way of life is to understand how to deal with debt collectors while staying calm and collected. This helps in your overall fight to become debt-free.
Practical Psychology: Decreasing unnecessary spending can allow more significant savings to cover all your debts and even pay extra on bigger debts.
Beat Deadly Debt #Step4: Make Your Enemy List
Let’s be real, we live in a world of temptation. Everyday you go out you will be tempted to spend money. But don’t. Instead, make your enemy list of the temptations that tortured you the most when you couldn’t indulge in them. Make them your sweet forbidden fruit at the end of your journey of being disciplined. Your cheat day for dancing with the devil of cravings. Until then, keep adding to the enemy list and swear to them that you will come for vengeance soon.
Practical Psychology: Rewarding yourself for staying disciplined greatly reinforces your motivation to stay on course.
Beat Deadly Debt #Step5: Train Your Spending Muscles Everyday
Your spending muscles grow the more it stays stagnant. The more you avoid the journey from your pocket to the card machine, the more ripped your control muscles will become. Get debt-free gains.
Practical Psychology: Repeated action over time of consciously not spending unnecessarily or evaluating buying your decision multiple times can help you avoid moot purchases.
There is no greater victory in falling and rising up stronger and smarter. Be tactful, mentally fortified, and razor-focused on becoming debt-free and no one can stop you. Good luck champion!