Debt Relief Is a Lifestyle Change
Getting out of debt is a math problem. You need to develop a long-term plan that will reduce your debt over time until it is paid off. However, it is also a lifestyle choice and should be foreseen.
As explained in the personal finance blog Life and My Finances, partly people find it difficult to get out of debt because many people don’t want to change their lifestyle. Whether it’s as dramatic as giving up an apartment, or as simple as staying home more often and not going to the bar, paying off debt at any significant time usually involves a lifestyle change. If you’re willing to make this change, you’ll do better than anyone else stuck in your path:
I was talking to my friend Laura the other day. She and her husband are 30 years old. They live in a $ 500,000 home and she drives with Audi to work. We talked about her daughter and that she goes to kindergarten, and Laura looked at the floor…. “I would like to stay at home with her, but my husband says I have to go to work to pay the bills.”
She did not understand that there was another way out. If they had just moved into a $ 150,000 home and replaced her car with a Honda Civic, she could probably stay at home!
Of course, this does not mean that everyone in debt is, by their own choice, completely in debt, and they just need to absorb it. Sometimes life confuses you and you need to get out . Debt does not mean that you have done something wrong. But getting out of debt almost always requires a change.
My life without debt: 1 year and counting … | My Life and Finance via Rockstar Finance