Causes and Cures for Debt

I have noticed that people who are deeply in debt continually make poor money decisions. At the top of the list is the purchasing of (additional) bills; that is, they buy products or services that, aside from the initial, usually expensive cost, come with a monthly, never-ending fee. These types of decisions go along way in explaining why such individuals are in debt in the first place.  Individuals who cannot afford the product or service in the first place are now saddled with an additional bill. And so the cycle continues.

People who live in the world of abundance do not buy bills. They purchase assets; that is, they buy products or services that allow for an increase in revenue. Be it web sites or iPhones, software or laptops, these are not toys to this crowd. They are tools which add to the bottom line. Herein lies a huge difference between the groups. Herein lies the root cause of debt.

You know the cause. So what are the cures? Fortunately there are many.

1. Be mentored by a financially successful individual. Most wealth is “learned wealth;” that is, it comes from people who started low and because of an invention, product, service etc., climbed up the latter of success. Many are willing to go into detail and reach out to help others who want the same for themselves or their families. Take advantage of such offers. It can change your financial life.

2. Speak the truth. If you lack the skill of discipline as it relates to finances, there is no shame. It is a skill that can be learned and applied. Before one can do this, they must be truthful and admit that this skill is sorely lacking. That is the reason they are in debt. No blaming. No excuses. Start fresh. Start by being truthful.

3. Along with truth, add Full Disclosure. What are your debts? What are your assets? What is your income? Get the real, exact numbers, even if looking at them is (temporarily) painful. Burying your head in the sand was a contributing factor to this problem. Open your open and look at what exists. A marathon is a long distance.  You have to start somewhere.

4. Full commitment to a new approach. Like any good diet, exercise, smoking cessation or any other behavioral adjustment program, FULL commitment is a must. Act as if your life depends upon it. In many ways, it does.

When you finally clear your debt and begin living on the other side of abundance, you can live the type of life you wish. You can improve the lives of others. You can contribute, indulge, enjoy, donate or do what you wish with what you have. You can experience the Magic of Freedom and all she has to offer.

5. Learn patience. Learn to delay rewards and temper impulses. Break the “I see/I buy” cycle.  Develop a work ethic that is a role model for all. Develop a creativity ethic that Davinci would be proud of! Everyone of us has these hidden gems. Now is the time to unearth them and use each in an inspired fashion.

6. Respect others, including the country. By creating a mountain of debt and attempting to find away around it (legally or otherwise), you are passing this along to your kids, grandchildren, neighbors, friends and others. It is not their responsibility. It is yours. Granted, it may not be an easy road but it is one that you have created and one that you are responsible for.

Be more aware of responsibility than you are of your rights. Your life and the countless lives of others in the country which you live, will greatly improve when you do.

Some will read this and argue why they cannot. Some will take action immediately.

Some will read this and toss excuses into the fires of the unaccountable. Others know that each of us are answerable for our own actions and will make the needed changes.

Some will continue to bury their heads. Others will finally look in the mirror.

One set of behaviors will trap its prey in the prison of worry. One will release their Spirit to fly in the Sky of Abundance.

Which one will you choose?