How bad is Your Attitude Toward Debt and Money?
Your attitude toward money can go a long way to explain your debt. If you can change your incorrect attitude about money you can begin to eliminate excess debt from your life. Will life be easier? Most certainly it will. When that huge mental burden of excessive debt is eliminated, because of your change in your attitude about money.
” I am living so far beyond my inome, that we may almost be said to be living apart” e e cummings (1894-1962)
By going through the process of preparing a budget you will see exactly where your money has been going. We all fritter money away daily. This excess is one of the things that gets us deeper and deeper in debt. Simply, it’s a little bit of money at a time, so we never miss it. We are to busy building that mountain of debt. Like a bird with its nest we keep adding a little here and a little there until it is huge.
Often small amounts over a period of time, such as daily coffees and fast foods can be used to purchase something more substantial like a vacation. Some people might find that more desirable. But the choice is yours as long as you can fit it into your budget. In the short term spending is fun. However, in the long term the excessive debt takes an emotional toll. Buying anything and knowing it does not add to your debt is really satisfying.
Often the amount that people waste on minor expenses, such as daily coffees and fast foods can represent a luxury of some kind once a year. But if you like the daily coffee at Starbucks and have to eat lunch out, or not eat at all, then budget for those items and cut back elsewhere, so they fit within your budget. Spending money makes us feel good and solves our emotional problems on some level. At least for a while. But that is short term. The act of saving the money and buying an item knowing it does not add to your debt can be far more rewarding and long lasting.
Is it simple? Yes it is a pretty straight forward solution. Simply changing your attitude will enable you to take the first steps to getting your finances under control. Changing your attitude to debt and money is your choice. Will it be easy? Probably not at first. But like any habit, once you stick with it a while the change becomes automatic. Make up up your mind to start a budget today and set short term and long term goals.
Anyone can get into trouble financially, whether you have money or not. A loose attitude about money and a lack of planning your finances can cause you to add to your debt on a daily basis. Change your attitude, develop a budget, follow it and improve your financial well being. The quality of your life depends on it.