This week, as the content of this series on "The Consequences of Debt", we have looked at STRESS, DIVORCE and HOPELESSNESS. Today, we will look at the "LIMITS" that we have put on our own lives when we allow ourselves to be burdened by debt.
Sometimes, if we have been living under the burden of debt over the course of several years, we may not even realize how limited our life has become! It's really a sad commentary to realize that we have actually become "numb" to the negative limitations that debt has put on our lives.
Here is a short list that I put together the other day when preparing for this episode. I'm sure you can come up with more ways that people can be limited by debt and I've love to hear some of your ideas on my Facebook page (link below).
1. Buying a house or a car
2. Christmas/birthday gifts3. Celebration events (anniversary, etc.)
4. Vacations
5. School Programs for your kids
6. Better Living Situation (even rent!)
7. Donating to Good Causes (Your Church / Other organizations)
8. Helping OTHERS in need
Going back to some things I've discussed in previous articles in this series, too often there are those that have come to accept debt as a way of life...as something that cannot be prevented or resolved. HOW SAD!
Think about it - when we become so accustomed to the pain of being crushed under the burden of debt we go through life as if we are only "half alive".
I've been in a situation before where we had to rely on other people to provide Christmas for our kids. I vowed at that time to NEVER allow that situation to ever be a part of my life again. It is painful to not be able to provide your kids Christmas gifts as well as birthday gifts or to not be able to allow them to participate in some programs at school because you don't have the money that is needed for the program. THAT HURTS! It's also very painful to not be able to do the same for your wife due to the same reason. Vacations become almost non-existent due to the lack of funds.
Maybe you have a heart to help others but you are LIMITED in what you are able to do because of the lack of funds. The lack of funds is often due to the money that is paid out monthly to pay your DEBT bills.
Aren't you tired of living that way yet?
“Oh, I'm O.K...Yes, I have debt that I will be paying on for years into the future but, hey, I make enough $$ to cover the bills so, WHAT'S THE BIG DEAL?"
Really? Are you a FORTUNE TELLER or a PSYCHIC? Do you KNOW what your future holds? Do you KNOW that your job will be in place for you over the next five, ten or twenty years, if not more? Do you KNOW that there will not be any sort of medical situation in you or your family's life that will bring about some large medical bills?
WHY PAY MORE MONEY than necessary in interest and continued payments? WHY in the world would ANYONE want to spend money that they do not need to spend? Why spend money on interest that you don't have to pay? Why continue to pay monthly payments that you don't need to pay? Oh, I'm not saying that you shouldn't pay back the debt that you owe BUT, why make monthly payments longer than necessary?
Why not get your DEBT paid off as quickly as possible, save tons of money in interest and reduce the amount of time that you are making monthly payments? THEN, why not invest that same money into something that will EARN interest (instead of you PAYING interest) and begin to create wealth for you and your family?
Yes, this IS possible! You CAN begin to actually LIVE LIFE instead of living a LIMITED LIFE but it does take planning and it definitely takes ACTION.
We'll discuss that in the next article, the conclusion of this series, entitled, "GET OUT NOW! (Make a Plan - Get Out of Debt)". Be sure to check out the link below that is labeled, "Live Debt Free" for my suggested solution. In the next article we will discuss other ways that may help you begin this journey OUT OF DEBT.
Be sure to join me then and, until next time, whatever you do, be sure to...
"Make it an AWESOME day! (Who else is going to do it for you?)"
Mike
Mike
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