The No Debt Plan: Pre-Step #1: An Honest, Positive Attitude

by Kevin on January 24, 2008

This post kicks off a series that will develop my plan for getting you out of debt. This may seem an odd topic for me to tackle; the only debt we hold are student loans that are in deferral. Yet I have read, seen, and heard the damage debt can do to individuals and couples. I hope you can take a small piece of everything I write with you on your way to the land of no debt.

Before we can talk about budgets, interest rates, credit cards, frugality, or retirement… we must discuss attitude.

A negative attitude will severely hinder your attempts to climb out of debt. Why? Getting out of debt isn’t a cakewalk! They are going to be hurdles and stumbles as you climb out. You can view each of those challenges in one of two ways: positively or negatively.

If you run into an obstacle, a negative attitude will just slow you down in overcoming it. It is a true momentum killer. You have to stay focused on the end goal: getting out of debt.

Second to a positive attitude is an honest attitude. You can’t play games with yourself. Take a good, hard, honest look at your situation. Face the music. Look at everything in your situation — not just some of the pieces. Do you have a negative cash flow at the end of every month? Do you know how much you spend each weekend going out to dinner and drinks with friends?

It isn’t hard to take an honest look at the data — credit card companies and banks send you statements. You should be able to decipher from these where your money goes each month. The data is there. The only thing stopping you is you.

So be positive, take your lumps when they come, and be honest with yourself. Do that, and you are well on your way to reaching any goal — especially getting out of debt.

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