The first promise of debtors anonymous states that “Where we once felt despair, we will experience a new found hope.”
Being in debt can become a way of life with no plans of escape. Get a loan that only has a monthly payment of $30. Get a credit card that gives you a $2,000 credit limit and only wants $15 a month. I can do that! What a great way to get that new stereo!!! Then in the mail came an offer for another credit card. Let’s get it!!! Another $2,000 and again only $15 a month paying it back. This is the life! This wonderful life of credit fulfils my needs. I look at it as a second source of income. Along with my weekly paycheck and this credit line I have more money than I know what to do with.
Then it happened. The bills came. Four credit card payments of $15 each. The bank loan is another $30. $90 gone. I still have to pay the electric bill and get gas for the car. Thankfully, rent isn’t till next paycheck. I should be alright. In fact, I’ll have at least $15 back in the credit cards that I can use. Wait a minute. I checked on-line and it shows I only paid $5 on each of the cards. Where is the rest of the money? Interest? No one ever mention interest.
How did this happen? I’m broke. Wait, I have an idea. I’ll apply for a new credit card, that will solve my problems. I got them so easily in the past… but now… no one wants to give me one.
This is how I lived for nearly twenty years. One crisis to the next. One wage garnishment to the next. The anxiety when the phone rang. Mail that was never opened. It was a horrible way to live and the worst part about it all was I couldn’t see any other way of living. I was in debt and I would stay in debt till the day I die.
The simple fact is we can get out of debt. Throw away the excuses. Throw away what you think you need because most of it is just wants. Quit eating out. Start walking instead of driving. Shut off the clothes dryer and use the clothes line. There are so many ways to cut down on expenses, yet I’ll be the first to admit it ain’t easy. And most importantly do not use any credit cards at all. Live with cash and only cash. Again, it’s not easy but the rewards are wonderful.
Imagine a life where the phone isn’t the enemy. Imagine the joy of opening the mail with no paranoia about bill collectors. And the real joy of being in control of your own future. For me, it got to the point that I was tired of working for money. I wanted money to work for me.
Seven years ago I was over $65,000 in debt. It took three years to get out of debt and now for the last four years I have remained debt free. The future is full of dreams. They’re not just fantasies, they can be achieved because I am debt free. If I can do it anyone can. It really is simple… yet it isn’t easy.
Start today. No credit, no new debt. Live only with the cash you have and nothing else. When you succeed you’ll look back with pride knowing how strong (spiritually and emotionally) you were to reach this goal. The goal of being debt free.