by Brad Homer
If you have a lot of debt, you'd probably like to get rid of it as quickly as possible. You may be looking at debt consolidation or debt management companies. You may be looking at various software programs or books to help you learn effective ways to get out of debt. Regardless of the direction you choose to try and get your debts under control, the first and most important step for you to take is to look at yourself and your attitude about debt and money.
If you're feeling angry or frustrated with the credit card companies to whom you owe money, that's certainly understandable. Many such companies do engage in less than fair (yet still legal) business practices. But most of the people working for those companies are like you and me. They have families, they have bills and mortgages, and they may even live next door. Most of them do not set the policy and direction of the company. And, let's be honest. The credit card company policies may be geared to keep you in debt, but they didn't force you to get there in the first place. In some circumstances, dare I say it, they may have even helped you by funding a significant life event that would not have taken place when it did without the use of credit. Ironically, making peace with the money lenders in your life can speed up the process of their exit from your life.
But, we are still talking more about you than the lenders for this first step of getting your debts under control. The best debt management plan in the world will be ineffective without dealing with the root cause of getting in debt in the first place. Have you been overspending to keep up with the Joneses? One of my favorite quotes about this is from Dave Ramsey: "Quit trying to keep up with the Joneses, they're broke too!" Or, maybe you feel guilty about money. Do you think money is the root of all evil? If you believe that your thoughts and feelings create your reality, then you already know that getting control over what you think is the first and most important step towards getting debts under control. If you think that stuff is hogwash, consider this example: If a baseball player constantly thinks to himself, "don't strike out, don't strike out, don't strike out," what do you think he's going to do? He's going to strike out. If you constantly focus on how much debt you have and how lousy you feel about it, you're subconsciously setting yourself up to stay in that condition. Instead, if you focus on how good it feels to have your debt under control and decreasing over time, then you will naturally do the things necessary to make that your self-fulfilling prophecy.
Any good debt management program (the best of which are those that you implement yourself after fully educating yourself) has your attitudes about debt and money front and center. Focusing on the mistakes of the past beyond the point of identifying the better course for today is a waste of time. Fearfully imagining a horrible future likewise is setting yourself up for failure. Focus on now. Focus on what you can do today to better control your finances. Get control of your thoughts and feelings about money and debt before putting your debt management plan into action. Focus on success. Your debt management plan will be far more effective that way in the long run.
You can create a rapid debt repayment plan now online using the free debt management wizard.