By the end of the holiday season, you may find that you have overspent your holiday budget. While this does setback your debt relief journey, it is not the end of the journey. Learn more in this week’s blog.
If getting out of debt was easy, no one would be in debt and there would not be any challenges to overcome. The steps you need to follow to get out of debt are not difficult. The challenge is to sticking with them. You will have challenges to overcome. But like anything that is worth having, debt freedom is worth the effort. Use these 5 tips for overcoming overspending.
1. Keep Going
If you don’t quit, you will win. If you keep going on your debt relief journey, you will find success. It may take a little longer than you initially thought, but you will achieve your goal. I can also tell you for certain, if you quit, you will not achieve your goal.
It took your whole life to get to the point you are at now. Don’t let setbacks stop you from achieving your goal. When you learned how to walk, you fell on your behind many times before you were walking. But because you kept getting up to try again, eventually you figured out how to keep walking without falling. The same is true to get relief from debt.
2. Don’t Overreact
When you overreact to mistakes, you place your focus on the wrong thing. Everyone makes mistakes, but not everyone overcomes their mistakes. Get your focus on what you are going to do to be successful in your journey. Remember you hit what you aim for (see Don’t Focus on the Rock in the Road). Keep your focus on moving forward and staying calm.
3. Learn from what happened
While you should not dwell on the fact that you got off track on your debt relief journey, you do need to figure out what happened so that you can learn from it and move forward. The key here is to just figure out what happened so you can correct it. Then make your correction, put it behind you and move forward.
4. Get Back on track
You cannot change what you did in the past. You will have consequences to deal with, but there are always consequences from our actions, both good and bad. What you can control is what you are going to do moving forward. Concentrate on making good choices with your finances and staying on budget so that you achieve your goal of being debt free.
5. Focus on what you are doing right
Even when we make mistakes on our debt relief journey, those mistakes are just a part of what we are doing. You may be doing so well in all your other budget categories that the consequences of the mistake are less than what the total mistake was.
Let me give you a quick example of that. Let’s say you have ten budget categories and you save (under spend) by $100 in nine of them. If you overspend by $150 in the tenth category, your total overspending for the ten categories is $50, not the $150 from the tenth category. Your good work saving money in the nine categories made up for part of the overspending in the tenth category.
Don’t let the mistake overshadow the good work that you are doing. Focus on the good work and you will keep going and do more good work.
Just as in physical journeys, you are going to have to deal with detours, bumps and delays. But if we keep moving toward our destination, we eventually arrive.
One of the best ways to focus your attention on the positive aspects of your Debt Relief Journey is to make sure you have all the tools you need for your journey. Take my free debt relief workshop to make sure that you do!
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Anything you tolerate becomes normal to you. When you stop tolerating debt, you increase your ability to function without it. It will take you some time, but the end is worth it!
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God Bless your week!