Life is like a mountain. You can either be at the bottom looking up or you can be on the top looking down? Which would you rather be doing? Debt is a mountain also. Many have an overwhelming abundance of debt. The process of becoming debt free involves climbing that mountain of debt until reaching the top. We are here to make our way to the top of our debt and gain some control over the quality of our lives. Being able to have control of even the smallest of finances. Whether it's $1.00 or 1,000,000,000.00, you should already have a plan for it.
Now, we can't control everything in or about our lives but taking hold of the things we can is a start. Me personally. I just get tired of worrying about money and trying to figure it all out. Every week struggling to divide the money between all the living expenses. Every month having to pick and choose who gets paid this month and who doesn't. This is not life. This is just mere survival. Putting out fires and handling crisis's at every turn. Living on edge, wondering when disaster will strike? Because you know it will.
My struggle is to get on top of my debt. Point being; if I can get to a place where I can pay the monthly minimum, I'm good. Now, I know you should pay more than just the minimum balance due, but, for those of us out there that can't even afford to pay that; here's to you. The reason I say this is because I understand the importance of accomplishment. Of just being able to pay your minimum balance consistently and steadily. This a baby step for many. This is a major event of achievement for some of us. Especially if you have been trying and trying with no such luck.
But this is where we need to be. Financial Stability. Why? Because, if you can show the creditor's you are consistent with the minimum balance due and pay on time it makes a great difference on your credit score, even if your credit score is low or bad. It can even bring your score up some. I will explain more on this later. But for now, know that we are struggling just to keep up with the daily living expenses of life. Not including debt. My point being; if I can get to a place where I can pay my monthly living expenses consistently and steadily, I'm good. So how do we get there? One baby step at a time.
But this is also where you must beginning planning your financial recovery. Here is where all the cliché things you've heard about budgets, financial planning and education comes into play. Living frugally and exercising self discipline and self control. Things like delayed gratification and saving for big items etc. I am sure you have heard the run down before as I have also. The problem is not that I don't know how to handle the money. My problem is that there really isn't enough of it to go around. Now change is knocking at the door.
Change must happen. We have to change. It must take place in order to accomplish the goals we set out to do. We can not remain the same people and be successful at getting out of debt. We can not keep the same habits or mindsets. We must learn new skills and make new habits. Part of the reason we are in debt because of who are are were when we created the debt.
Financial Stability. This is our goal for 2009. To become financially stable in covering our living expenses consistently and steadily. We must secure our own livelihood and our families first before we can really consider paying down our debt.
Financial stability is the first mountain to climb in our quest for becoming debt free.
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