There are some excuses you give for living in debt that could easily change your financial life. Keeping this in mind, you need to understand what is preventing the monthly bill from closing and starting making some routine changes. So find out now what are the excuses you should stop giving to pay off debts once and for all. Come on?
6 Excuses You Give For Living In Debt
I deserve it, I work for it
Who has never seen anything expensive and thought: well, it’s to pay for things like this I work every day of the week. And the result was an unnecessary account.
The idea of deserving luxury or something expensive is easy to get into your routine, but hard to get out of. Since you get used to the idea and the rewards. So one of the excuses you give for living in debt is the idea of deserving or immediate reward when you could make an effort to save. Instead, this idea of working hard and deserving something becomes a constant excuse to spend every penny you get.
I don’t understand finance
One of the main excuses you give for living in debt is the question of not knowing how finances work.
Although you are not an admin expert, you certainly know the basics. In other words, you know how much you earn, how much you pay on bills, and how much you could spend on the outside. However, something quite common is that some people end up spending more than they receive or committing the budget that would serve to pay off a debt.
For example, suppose you were able to save $ 200 and could continue saving until you reach the full amount of late payment. You know spending that money means going back to square one, but you decide to go out with friends or buy something you’ve seen in a store.
But it was discounted or on sale
Discounts and promotions were one of the effective ways businesses found to sell in droves without the customer really thinking they were spending.
It turns out that when you see a discount or promotion product, then a mental trigger is triggered in your brain along with the question, “but what if one day I need it? You may never use that item and you may not really like that product, but the more affordable price suggests it. So you find a perfect excuse to spend money, as paying less for something seems like a good alternative to shopping.
Note: It is noteworthy that some promotions are misleading, the stores increase in price before giving the discount, leaving the item at the price that was previously sold. Likewise, some promotions and discounts may really be worth it when it comes to items you even need to buy, such as a stove or a refrigerator.
I won’t be able to save
Among the classic excuses you give for living in debt is the idea that it is impossible to save on what you earn each month.
First, saving doesn’t mean saving $ 400 a month, you can start with $ 50. Second, it’s not that you can’t save, but it may hurt to set aside some perks. So instead of cutting out the excess snacks, sweets and tops, you choose to say that you don’t earn enough. But believe me, cutting down on some unnecessary spending and organizing finances would be enough to leave money for that growing debt.
If I earned more, that would not be a problem
Another common excuse you give for living in debt is a distinct notion of receiving or spending.
That is, instead of thinking that you could save or cut spending and live well on your salary, you keep spending too much and believe the mistake is in how much you earn. The question is simple: how much you earn, at least in the short term, will not change. So you need to get by with this same salary. Thinking about it, where is the problem: in gain or expense? The answer is obvious, but the excuse fits so well in everyday life that you wear it as armor to buy in every little shop, promotion, or even not to make food.
The debt is not that big
If you have never said or thought of that sentence, it is because you never owe a penny to pay. After all, almost all debts start small, but the problem is constantly letting go, which causes interest to start charging its price.
So after a few months, something that was $ 50 becomes $ 300. That’s when it comes to credit cards. In this case, the account can triple. The challenge is to leave the excuse that debt is not a problem yet and face the fact that not paying back something you owe is already bad, regardless of its value.
Leaving this idea aside, you would be able to pay off a debt early
Avoiding interest and even more serious problems like locking a card. In some cases, you can even avoid a debt, which is only understood as a delay or error in making monthly bills.
It is noteworthy that another common excuse is the idea of emergency, that is, any situation arises and you are soon spending, such as starvation in the middle of the night. Instead of doing something, you choose to buy something.
By knowing the main excuses you give for living in debt, you may have recognized each of the points in things you say daily.
So start rethinking how you are taking care of your finances to get out of debt once and for all and have a more comfortable and peaceful life without the pressure of banks and invoices.