How easy it is to get out of the debt swamp and stop taking loans

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May 17, 2022, 19:09 | Business

Take control of your life and start changing it for the better now!

< img class="aligncenter" src="/wp-content/uploads/2022/07/jak-legko-vilizti-z-borgovogo-bolota-i-perestati-brati-krediti-5f512ab.jpg" alt="How easy it is to get out from the debt swamp and stop taking loans" />

Many people constantly take loans or borrow money from friends and acquaintances. Over time, it becomes a habit, and life turns into a constant search for more and more funds to pay off debts. Such personalities practically do not have their own savings. The reason is simple — they live with the wrong attitudes, and the “debtor's thinking'' reigns in their heads, Ukr.Media informs.

What is the “debtor mindset''

This psychological term can be applied to people who often talk about debt and how life is unfair to them. Each new loan increases the spectrum of negative emotions, as a result of which a person becomes irritable and unbalanced. Such individuals gradually realize that a new debt can save them only for a while, and in the long run it will only worsen their financial situation.

In order to make sure that the "thinking of the debtor" — this is a dangerous thing, you should refer to the laws of the universe. We attract into our lives what we think about. For example, many pregnant women constantly think about how to give birth to a healthy baby. Gradually, more and more pregnant girls and young mothers appear around them – this is how the law of attraction works.

It doesn't matter what you think about debt – that you are sick of it or that you don't want to take it on anymore. The law of attraction will still force you to take another loan sooner or later. That is why it is so important to monitor not the direction of thoughts, but their subject. Think not about debts, but about how to earn more money.

Strong emotions are a catalyst for the law of attraction

Of course, if a person works as a bailiff and issues one fine after another, this does not mean that there will be more problems with the law in his life. The law of attraction has no power if the catalyst — emotions — is not applied to thoughts. And it doesn't matter at all what these emotions are – positive or negative: the stronger they are, the more likely the object of your thoughts will appear in your life.

That is why the first step on the way to the debt pit is to lend someone money yourself. If the borrower does not return the loan on time, then you will start to think: “the person has no conscience, he owes me money, but he is not even in a hurry to return it.'' Your mind will cling to the thought of debt, so you can be sure that over time you yourself will become a debtor. So never lend money, especially to people you don't trust.

Be aware and admit how you feel about debt

This is the first and most important step on the way to getting rid of the debtor's mindset. Of course, pointing the finger at the culprit is easier than simple. However, will it help you financially? You should not direct your emotions in a negative direction. Instead, embrace the fact that you have a 'debtor's mindset'. As soon as you realize this, half the task of normalizing life will be done. Most importantly, really be honest with yourself. You and only you are responsible for the financial situation you are in.

Form a new way of thinking

When you realize your mistake, it will not be so difficult to form a new life credo. Instead of the phrase “everyone should'' or “I'm stuck in debt” use 'my life is my conscious choice'. Over time, your thinking will change dramatically. You will no longer look for blame in any situation, focusing instead on your own mistakes. And this is where real miracles will begin. As soon as you start making efforts to get out of the situation you are in, money will start to appear from everywhere. Over time, the number of debts will decrease and life will return to normal.

How to get rid of debts

It would be foolish of us to say about the need to take certain actions to reduce debts, but not to leave a specific instruction that would help in this:

  1. Take your finances under your control. Be sure to calculate your total amount of all debts and write it down on a piece of paper. So you will be able to see the real picture of what is happening and avoid illusions that one more loan can save your situation.
  2. Set yourself a specific goal. To do this, soberly assess your capabilities and calculate how much you can spend each month on loan repayments, after which start gradually paying off the debt. Let it be a goal of 5 or 10 years – no big deal. The main thing is that you follow it day by day.
  3. Give up what you can live without. Any major purchase, renovation or overseas trip should be carefully considered. If you do not consider yourself financially prepared for such expenses, then you should not get into even bigger debts.
  4. Learn to distinguish between real needs and those imposed by aggressive advertising. Believe me, a lot of what you are used to is not an urgent need for you. Some things are better to buy later, when a good discount will appear on them, others have a cheaper analogue, and still others will turn out to be completely unnecessary.
  5. Don't take on more debt. Make an iron promise to yourself that the loan you took out recently was the last. Instead, start setting aside at least a small contingency amount each week to give yourself a financial cushion in case of unforeseen circumstances.

Don't expect too much

The final piece of advice for those looking to get out of debt is to be realistic. Rejecting the “debtor's mindset” and starting to implement a specific plan, you will not become a millionaire in the next year. Of course, such situations may happen to some lucky ones, but you should not count on it. Just stick to the long-term goal you set, and don't forget to thank the universe for your successes.

If you set yourself an unachievable task, you risk becoming even more disappointed, and as a result, the flow of negative energy will only increase your financial situation. Many people spend decades trying to achieve financial freedom, but they eventually achieve it. All that can distinguish them from you is perseverance, patience and faith in the best. So take control of your life and start changing it for the better right now!

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