The Most Important Step Towards Getting Out of Debt

99% of your potential to become debt-free relies on this

getting out of debt

Getting out of debt can seem impossible. It’s a burden, no doubt. I’m here to explain to you that it’s something that can be done and the first step towards doing it. It’s not easy and it’s not fun. But it’s also not impossible. 

I’ve mentioned before some important steps and strategies to consider when you’re trying to get out of debt. All of which, I stand by and I still recommend them. However, above all else, there is one step that I feel is the most important and that is to change the way you think

You need to embrace an optimistic, can-do mentality.  

If you think you can’t, then you can’t

Pretty simple concept here. If you’re not going to make an attempt to fire yourself up, encourage yourself, or discipline yourself, then no, you’re never going to get out of debt. If you allow yourself to think that it’s too hard, then it will be too hard. The only person that can flip the switch and turn from biggest critic to biggest supporter is you. 

I’m not saying you have to exaggerate and lie to yourself. Again, it’s going to be hard, it’s going to take time. But understanding the concept of a positive mentality, setting goals, taking some kind of step forward, one-by-one, little-by-little, you’ll start to harness a healthy mentality that’s only going to work in your favor. 

If you’re not convinced it’s possible to change your mentality regarding getting out of debt, my suggestion is to just toy with the idea. Just take a couple minutes a day to think about what it would be like to be debt-free, what you could do with the extra money, what small steps you could take in order to be debt-free, etc. Instead of firmly believing it’s impossible, try asking yourself: “what if it is possible?” (it is). And this is not to sound cliché but I’ll be damned if a positive thought ever hurt anyone. Just try it. 

Think about the effects of doing nothing vs. doing something

You have to start. No matter how little or how much you’re contributing towards getting out of debt, you just have to start. When you’re stuck in a mental state where you’re telling yourself it can’t be done and just letting the interest pile up, you’re only digging yourself a deeper hole. It’s getting worse when you do nothing vs. doing something. That fact alone should be enough to get started. 

Doesn’t it seem more irritating to just let the amount you owe increase by doing nothing vs. doing something, whatever you can, to fight that increase? Switch your mentality so that instead of feeling helpless and defeated, you get pissed off and motivated. Fight back against that which is creating such a burden in your life. 

When you can’t motivate yourself, allow others to help

This is a tiresome and mentally-draining journey. It’a okay to feel unmotivated or frustrated.

There are so many communities and individuals you can turn to for inspiration to help you maintain this positive mentality you’re leaning to embrace. The personal finance community is a collaborative community. Most people in this space are more than willing to offer feedback, encouragement, and help (including myself). 

You can turn to places like Reddit and YouTube for easy-to-digest information. Here are some places I recommend you look for motivation, perspective, and insight: 

These are just some places to look to get you going. Feel free to dive in and do a little looking around to find what suits you best. Also, you don’t have to 100% agree with any of these resources — I don’t (except for my own writing). But when you learn how to dissect information and apply it to your specific goals, you’ll find so much more personal value in your research.

It all starts with your mentality

I’m willing to guess that many will read this article and think something along the lines of “easy for you to say” or “it doesn’t work like that for me”, whatever it may be, and that’s proof that you have yet to embrace the most important step towards getting out of debt — changing your mentality. 

When you can reign in your negativity and unwillingness to try, you can accomplish so much more. Optimism is such a powerful thing to possess. You’re gonna take hits, but you’re gonna get back up and keep at it. Man, I’m getting fired up just trying to fire you up. 

You can do it. It’s possible. Just Try.

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