Are you in debt? If you are like the typical American, then you are in debt. Do you want to know how to beat debt? Are you tired of worrying how you are going to pay your bills when they come in the mail? Or worse, are you losing sleep over your debt? Do you want to overcome your debt once and for all?
I was in your shoes a few years ago. I was once in credit card debt to the tune of roughly $10,000. I wasn’t happy, my work, health, and relationships suffered, and dreaded getting the mail.
But I was able to beat debt. How did I do it? With hard work, reflecting on how I got in debt, patience, and a lot of failed attempts along the way.
Trapped In The Endless Debt Cycle
If you have tried to get out of debt only to find yourself right back where you started, I can sympathize with you. I had a large balance on one credit card when I decided I was going to pay it off and get out of debt. Here was my original plan for how to beat debt:
- Open up a second credit card, one with a 0% balance transfer offer and move my debt over to this card. I would make my payments on the new card while saving money on interest charges.
How well did that work out for me? It was a complete failure. While I did transfer my balance, I simply started to spend on the original card once again. After a few months, I put my foot down and said enough is enough. I was going to beat debt this time.
So I opened up a third credit card. I transferred my balance on my first card to the new card to again, to save on interest. Then I began to make payments to pay off my debt. Sadly, I went right back to spending on that first card again.
As you can see, I was trapped in the endless debt cycle that you may be in.
Unfortunately, you are going to be stuck in the cycle until you dig deep down inside and get real with yourself. That is the only way to beat debt. And this is what led me to getting out of debt once and for all.
How To Beat Debt
For me, it happened one day when I was out shopping for a new jacket. I didn’t need a new jacket. I already had 3 of them. As I was considering buying this jacket, the light bulb went off and I realized what I was doing. I was buying things to make me feel better.