3 Debt Mindsets That Are Really Unhealthy

3 Debt Mindsets That Are Really Unhealthy

Debt can be an unbearable burden – but it’s not something you cannot fix. In fact, the first thing you have to do is to change your mindset about this. There are some really unbeneficial thoughts that could go through your head and ruin the process of getting out of debt.

What are the 3 debt mindsets that are unhealthiest? We have some tips for you – so read on and find out more.

Postponing your finances for tomorrow

“I will analyze my finances tomorrow”, “I don’t have the time to do this today”, “I’m really not in the mood to do this today” – these are just some of the variants that could go through your head. However, this type of mindset can be one of the most harmful ones when it comes to paying off debt and getting your finances back on the floating line.


Because postponing for tomorrow means you will postpone it from tomorrow to the day after that, and then the one after that, and the one after that – until you will eventually end up in a situation that’s much worse than where you were to begin with. It’s an endless loop that needs to end today – not tomorrow, not next week, not next month. The more you postpone dealing with this, the harder it will be to actually get out of debt.

Losing all hope it will ever get OK

This stands true for any process that involves change, and not just getting out of debt and putting your finances in order: it is very important to NOT lose hope.

We won’t lie – it will not always be easy. It will not always work the way you initially planned. And it will sometimes be downright tempting to go back to your old ways and say your change efforts are useless anyway.

Don’t do that. Stick to your plan through thin and thick. You’ll thank yourself when you get to the other side.

Cutting down on EVERYTHING

OK, getting out of debt means you will have to cut down costs in many areas of your life. However, it is not entirely limited to that. Simply cutting down on food, on the way you live, cutting down entertainment altogether and making your life feel miserable will make you end up where you began: in debt, feeling emotionally drained, not very hopeful about the future.

It is thus very important to know what can be cut down and how much. It is important not to leave out every single little thing that brings pleasure in life – like that pizza you love. Don’t take it out of your life entirely – just limit its presence – like getting that pizza once in a two weeks’ time instead of twice a week.

Moreover, consider adding multiple streams of income to your house. This is a surefire way to pay more off your debt without completely sacrificing every single thing you like doing. It won’t be easy, but it is more than doable.

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