Today, I’d like to take the next step in our series, which is looking at debt.
Debt is something that can restrict and hinder you. It can completely stop you from reaching your financial goals if you don’t take it seriously enough. There is a difference between good and bad debt though, and you can also make debt work for you.
For today, let’s focus on the wrong side of debt. I’ve shared my experience with bad debt before, which was putting a holiday on a credit card and having to pay interest on that. I felt stressed and realized that this was robbing me of my financial future. It was stopping me from
reaching my financial goals.
At that time, I didn’t have a clear understanding of what debt was. I thought of it that it’s money for nothing. In fact, it was money spent on my own impatience, because I didn’t have the foresight and patience to save up money for my holiday.
As a first step, consider how your debt is stopping you from reaching your financial goals. If you live in a cycle of living on credit and having debt in that regard, the ramifications for your financial future are immense.
The second thing is to realize that you can change your habits around that and you can work towards getting rid of debt. We’re going to explore
some strategies here together. So, if you’re in debt, don’t stress about it to the point where you can’t find sleep. We’re going to figure this out together.
Let me know in the comments: Is debt stopping you from reaching your financial goals?