Lie #1: Debt Is Unavoidable
If I had a dollar for every time I've heard the words...
"I feel like I will always be in debt."
With us celebrating Financial Literacy Month, I thought to share the lies we have been told! So, let's get ready to debunk this week's lie...
DEBT IS UNAVOIDABLE
When we graduate high school, we are taught to find a way to make a living. Some of us attend higher education, some of us work in trades, and some of us find a way to make an income just to leave mom and dad early. No matter how you got your start in life, there were either lessons passed on to you or experiences that led to this conclusion... debt is unavoidable.
I’m here to tell you that debt is entirely AVOIDABLE! Sure, you will have utility bills for the rest of your life. You will also need food, shelter, and fun of course, but that doesn't mean you have give away the other half of your check to consumer debt!
16 years ago, my husband and I paid off our last debt which was our student loans. It was an amazing feeling!
When we got married, we had 7 credit cards, several student loans, and 2 car payments. After we had our daughters, we bought nicer cars to safely transport these girls everywhere. When we finally added up our complete debt payoff, it amounted to over $90,000 and we haven’t looked back since!
Now don't get me wrong, there are valid concerns when considering to live a debt-free life. Something like these...
"I can't travel with only cash/debit card."
Yes, sometimes travel is a bit tricky and admittedly inconvenient only using a debit card, but it is in fact possible.
"But what if the car breaks down?"
Yes, when an emergency strikes, we must use our savings to weather whatever storm we are facing at the time. But again, we’ve done it. And you can too! Benjamin Franklin said, “If you fail to plan, you are planning to fail!”
The key is… you must plan.
I’ve built my business on planning for immediate and future needs. My biggest piece of advice to you is this.
Slow down enough to plan for your next steps.
Give yourself the opportunity to turn this lie on its head. You can crush your debt and leave trails for others to follow your lead.
Want some help with this? Schedule some time with me here.
