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Originally Posted by quoteguy  I think I needed to here this. I've been dealing with debt issues. Thanks for the insight. |
Here's a tip. You can send me a $100 donation after you get out of debt with it.
Make note of your debt total, and put systems in place so that you're not getting into further debt. Then forget about it. Get it out of your consciousness. Don't talk about getting out of debt, don't talk about your debt, don't worry about it, don't concern yourself with it. Set it up so that you can forget about it without it hurting you. ie. If your minimum payment is $100 on the credit cards, just setup an automatic payment for that amount. Don't open your bills and focus on the total debt.
NEXT, focus on building wealth, increasing your income, making money, growing your net worth etc. That's what I did. I had a $12,00 debt at one point in my life AFTER I sold all my assets and I had credits chasing me and threatening me with legal action, bankruptcy etc. I tried getting out of debt for a long time and it didn't work.
Then I focused on just becoming a millionaire. My thinking was this "I can spend the next 5 years trying to get out of debt, and maybe I'll succeed or maybe I won't. If I do succeed, I'll have a net worth of $0. Woooopeee! OR I can focus on becoming a millionaire in the next 5 years and forget about getting out of debt first. If I succeed, I'll be a millionaire with a $12k debt. I can just pay it off."
Make sense?