A positive, I-can-get-out-of-debt attitude is key to turning your finances around.
You have to believe that you’ve got what it takes. Here are some proven
strategies for helping you believe in yourself and set your resolve:
1. Draw strength from tough challenges you’ve faced in the past
Maybe someone in your family had a serious illness, you went through a divorce, a close relative or friend died, or you experienced a major disappointment in your career.
2. If you believe that you’re largely responsible for your family’s financial problems, don’t beat yourself up about what you did or didn’t do
You can’t change what happened, and letting feelings of self-recrimination and guilt bog you down makes it a lot harder to do what you need to do now. If you act bummed out all the time about your family’s financial situation, your bad attitude is likely to spread to everyone else in your household.
3. Remember that you’re not the only person who has ever experienced
Millions of people have been where you are and have had to do what you must now do to get out of debt. If they can do it, so can you!
4. Get inspired by reading a book or watching a documentary about someone who had to overcome something difficult
These types of stories are plentiful, but if you need some suggestions, consider Franklin
Delano Roosevelt, Nelson Mandela, Helen Keller, or Stephen Hawking.
5. Motivate yourself by visualizing your future
Close your eyes and think about what life will be like when you don’t have a lot of debt, you’re not stressed out about money all the time, you’ve got a comfortable balance in your savings account, and you and your family can afford a few extras.
6. Don’t stay silent about your money troubles
You don’t need to shout it from the rooftops, but let your close friends and family members know that you are going through some financially tough times, even if you have to swallow your pride and admit some mistakes. If some of your friends or family members are also experiencing money problems, create your own support group.
7. Boost your self-confidence by getting smarter about money
Enroll in a basic personal finance class or read a good book on the subject.
8. Be realistic about how long getting out of debt will take
Don’t expect to pay off your high-interest debts, build your savings account, and have extra money in your pocket by next week. As long as you’re serious about dealing with your debts, you’ll see gradual improvement in your finances, but there’s no quick fix for serious money problems — so don’t get yourself down because you can’t find it.
9. Rethink your definition of success
It’s easy to get caught up in the idea that success means spending a lot of money. But there are other ways to define success: being a good parent, spouse, and friend; Money can’t buy these things, yet they can bring you more profound and lasting happiness than more stuff ever could.
10. Stop making excuses
Maybe you hear yourself saying, “Yes, but I don’t have time to find cheaper insurance.” “Yes, but living on a budget is too much work.” “Yes, but I can’t earn more money right now.” You can make the necessary changes in your life. You can’t afford to make excuses.
Source: Wiley Publishing