Budgeting Essentials
Changing Your Mind CAN Lower Your Debt: Find out How
Welcome to my blog.
Thank You for joining us regularly!
Today we’re talking about how changing your mind on some things can actually lower your debt - FAST!
Have you ever stopped to think how Changing your mind about someone or something can actually change your life for the better? This works because everyday people act upon what they believe to be the truth.
Isn’t that the way it should be? You may ask.
Yes and no.
Yes, If what you believe is true.
But no, if you what you are believing is a lie.
People don’t believe lies, do they? They most certainly do. It happens every day.
What’s more, believing lies affects your health, happiness, and prosperity. Including financial prosperity!
Let’s look at this from a positive angle.
Let’s say one day you wake up and decide to forgive a sibling or a coworker for something they did or said that offended you terribly. In this scenario, you thought they meant to hurt you, but that’s not true. (As humans, we sometimes say and do dumb things, right?)
Once you really do forgive that person, it opens you up for continued conversation and friendship. Why?
Because you are no longer finding fault with that person. They are A-ok with you. You’ve dropped the charges you were holding against this person.
The two of you are reunited. Trust is being reestablished.
So, what does forgiving somebody have to do with health, happiness, and financial prosperity?
In line with forgiving other people in your life, it is also important to forgive yourself for getting your money in a mess. Our money gets messed up for any number of reasons. Saying yes when we should have said no. Splurge purchases. Impulse buying. And yes, sometimes, we simply do dumb things.
Some people worry over money to the point of:
Losing sleep due to financial anxiety.
Losing focus due to fear of money woes.
Losing peace by arguing with family over money.
Here are 3 things you can change your mind about that could change your debt situation.
#1. Subscription services.
Cable TV. Do you really need it right now?
Streaming services. Do you need all the channels you are paying for month after month?
Education and training subscriptions. Did you order a service that used to help you, but no longer applies?
Prepared meal subscriptions.
Are they really saving you money?
Could you start making meals at home, or have your teenager or young adult who moved back in with you share the family cooking with you?
How about these subscriptions, are they absolutely necessary? Alternatively, could you cancel them until your outstanding debt is paid off?
Software as a subscription.
Subscription boxes that include meal kits, makeup, and even pet boxes.
Membership subscriptions.
Digital subscriptions.
Some questions you could ask:
Do I still need this?
How often do I use this?
Am I getting the same value I once did with this service?
Are there elements included in this service I could do without?
#2. Transportation costs.
Look at your current vehicles. Can you downsize from a newer vehicle to an older one?
How much are you paying for auto insurance on each vehicle?
Keep in mind that you could get a deal on used vehicles found in out-of-the-way places:
Farms.
Going out of business sales.
People buying newer vehicles who could not get a decent trade in value on their old car. (It happens).
Businesses buying newer vehicles. Maybe the plumber is replacing his clunker. You may be able to snag a good deal on the plumber’s current car or truck.
Fleet sales not sold at used car lots.
County vehicle sales. Check your county website.
Impounded vehicle sales.
Be imaginative. Don’t leave any tire unturned.
RESOURCES:
Check out my blog: Keep the Clunker
Article: Subscription Model – is this really the best approach for me?
#3. What about waking up one morning and changing your mind about being lackadaisical about debt? What would this look like?
Basically, you do everything in your power to rid yourself of debt.
Work extra.
Cook at home.
Use last years model.
Wear last years model.
Sell what you are not using.
Turn a hobby into a side hustle.
Don’t buy what you do not need.
Don’t shop on an empty stomach.
Curtail internet browsing/shopping.
Share kid entertainment expense with relatives/friends.
Decide not to keep up with people who have more than you do.
RESOURCE
Article: 8 Amazing Things Happen When You Finally Pay Down Debt
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