Debt seems to be for many, a self-fulfilling prophecy. Once you start to accumulate it, it just naturally follows that you will amass more debt. You justify that you “need” this, that or the other and that it is just “this one time”. The one time leads to several and before you know it, your debt has spiraled out of control and you are at the bottom looking up.
But what is “rock bottom”? What determines a person’s proverbial straw? And why do some people continue to ride the wave of debt and throw consequence to the wind?
My debt spiraled out of control, control that I thought I had. But I am doing something about it. Because I refuse to accept it. I refuse to accept that debt needs to be a way of life; the way I function. Ultimately debt is an active or passive acceptance, because everything comes down to action or acceptance. You either accept your debt for what it is and continue to just make minimum payments and not give your outstanding balance any notice. APR… they’re just random letters, right? Or you take action. Refuse to spiral into any more debt. Refuse to think that debt should be commonplace and akin to breathing.
The key to conquering the debt spiral is to understand the truth about money. Money is not your friend. It is not your therapist. It is not the panacea to what is ailing you. Money is a means to an end. An exchange for goods and services. Remember, the Joneses are a myth and no one cares what you have or don’t have.
At the end of the day, money will not make you happy. It takes awhile for most of us to make that connection but the sooner you do, the sooner you get off the debt spiral.