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Consumer Debt

l’d like to talk a bit today about #Debt. It’s a word that is very common in almost every country and government around the world and especially in North American #society.

If it is so popular, is it really best for you and your family too? We can see the economies of various governments around the world being dragged down by debt. So, my question is, if it’s not working for them, how can we expect debt to work for our personal finances? I don’t really understand the acceptance of it, other than those who make lots of money off it, want us to stay in debt, and they do a very good job convincing us that we need it to survive and function.

That is one of the primary reasons I started the business that I did, #AllyFinancialCoaching. Through AFC my goal is to show and coach people about how they can be in control of their money in a way that is different, and freeing.

I too have done debt, consumer debt and mortgage debt. I have assured myself though, that I will never go back to having consumer debt again. That I will do whatever it takes to safeguard my approach in life to prevent going back to living that way. Emergency funds, savings, and spending appropriately are part of the equation now. Life happens, but we can prepare for most of what life throws at us financially.

I have made living debt free a principle in my life. A principle is an approach you stick with, even if you know it might lead to a short-term outcome you don’t prefer. Have there been times that I have wanted to take that trip I didn’t have the money for and put it on my credit card or purchase that vehicle with financing….you bet! That being said, I have stuck with the principal of no debt because I value it and the freedom it brings to my life in the long term, more than the pleasure of these purchases in the short-term.

What happens between the short-term and the long-term is what makes a principle valuable. If your guiding principle is to do whatever feels right for you now, your principles are not very valuable.

So, what are you going to do with the debt that you have? Can I suggest you get rid of it? Allow me to help you embrace some principles in your life that will give you structure and #momentum and make progress with your finances. Let me show you a way forward that is freeing, fun and rewarding!

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