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Everyone has a difficult time figuring out how to get out of debt and staying out of it. Sometimes we pay off our debts and feel a sense of victory and then go right back into debt again figuring we have conquered the monster so it won’t get us again. What we don’t realize is that that debt monster will sneak up on us again, and the next time may bite us even harder. The first step to getting out of debt is to change your belief system around money and debt. Ninety percent of the problem is behavior. Our behavior is driven by our belief system. If we believe that we will always have a car payment and that we’ll always have a mortgage payment, then we always will. If we believe that credit cards are necessary and required in today’s society, then we will fulfill that prophecy by becoming completely dependent on them. This is probably the most difficult step of all, and it is the one often ignored by financial experts. We have to learn more about money and how it works, as well as how debt really works, so we can see the truth about it. Too often what we believe has been formed by advertising and peer competition. We have been indoctrinated by our society to believe that debt is a tool of “leverage” that we use to make ourselves wealthy. What we don’t realize, is that it makes the lenders wealthy, not the borrowers. Continue reading ‘5 Steps to Living a Debt Free Lifestyle’ »