How Debt Prevents You from Achieving Your Dreams


Have you ever wondered what you would do with your money if you didn’t have any bills to pay? Imagine that just for a second. How does it feel? It can be fun to imagine occasionally and dream once in a while but most people think achieving your dreams is something for other people and not them. Most people quickly return to their daily routine thinking it could never happen to them so why bother?

It is a fact that as long as you bear significant levels of debt you’re a prisoner within the walls that debt effectively builds around you. The only way to see outside those walls is to change your mindset and realize that getting rid of your debt is the only way to real freedom.

Have you ever found yourself wishing you could take a nice vacation, put more money into a savings account, or maybe just have the ability to use your money to help others? To have the freedom to use your money in any way you choose? Wouldn’t that be a nice feeling? It’s called financial freedom.

Dreaming is one thing but when reality kicks in and you realize you that can’t do any of these things because you’re actually broke then it probably feels like a big letdown, doesn’t it?

Debt is a dream stealer:

The problem with debt is that it can take control of your life. And once it has taken control of your life it can cause you to lose hope. And of course, once hope is gone, your dreams will start to die and you can experience a vicious circle of misery.

The question is how can you regain hope? How can you break out of the circle of misery? It is possible, of course, but only when you realize that you have a choice. Change can happen buy only if you are prepared to change. Decide you’re going to change and do something about your situation and that can be the beginning of when you regain hope.

The problem with personal debt:

Debt can limit your life options in all sorts of ways. For instance it may prevent you from pursuing a career path that you would otherwise be passionate about.

Work is merely doing stuff for other people in exchange for money. That money then allows you to live and pay your bills. However if you’re bearing high levels of debt, that money must also go towards servicing the interest payments you’re obliged to pay on that debt. So in order to keep financially afloat you must earn more. To put it another way, you must run faster just to stand still.

This is where debt limits options. Ironic perhaps but true, more options tend to open up when you aren’t constantly pressured to ensure you have a certain level of income each month. Debt has the ability to keep you stranded in a job you hate just because you cannot risk having insufficient income.

Why is that so? Well suppose you make a decision on your ideal career but you realize it will mean you re-training or taking another professional qualification. Perhaps it would mean you returning to full-time education for a period of time, say one year or two years.

In the long term that may increase your earning potential but when you’re carrying debt your focus is on the short term and making sure you can meet the interest and debt repayment schedule. So you can’t go in the direction you’d like to go because you can’t put your current income at risk.

Essentially debt is a form of slavery. It is financial slavery. Yes there are times when it cannot be avoided. Taking out a mortgage to ensure your family has a home in which to live for instance. However all too often people experience a significant debt burden for no other reason than they’ve spent far too much money they didn’t have on things they didn’t need or could have lived without. And in doing so they’ve used unsecured debt like credit cards with extortionately high interest rates.

Debt can be a source of stress:

Another way to think about debt is that the burden loads you down with stress and frustration. This can make it impossible for you to focus on those things that really matter in life such as spending time with family and friends. It can also mean you miss out on some of life’s more exciting experiences such as travel to interesting places.

Whilst carrying a debt burden, you’re not able to save, invest or give. It can be highly rewarding to give and help the less fortunate but with debt you will simply be further enriching people who are already wealthy.

Debt will steal your dreams and it can steal your life. It’s a form a bondage you can do without, so quit digging yourself into a hole and start a new chapter in your life.

Get out of debt as quickly as you can:

Whatever your mindset regarding the debt that surrounds you, remember it doesn’t have to be this way. You have the ability to change everything starting right NOW.

Don’t put it off until tomorrow. Get your act together, make a list of your debts (no matter how scary this is), and start working on a plan of action.

Discipline yourself. You will make mistakes, just don’t give up. Financial freedom and the ability to dream big can be within reach.

Further Reading:

At this point some further reading might appeal to you. If so, one book I recommend you read is The Richest Man in Babylon by George S. Clason.

This book is a very easy read and a timeless classic. It’s one of the most useful books I’ve ever read and essentially it contains the financial success secrets of the ancients.

This classic holds the secret to person wealth and financial freedom. This book holds the secrets to acquiring money; keeping money; and making sure your money is earning money. It will also provide you with a cure for empty pockets or a lean purse.

It’s well worth the cover price and you can check it out on Amazon if you CLICK HERE.

Other Articles:

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Life is short and it’s later than you think

Powerful words change lives

11 tips for improving quality of life

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

 


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