How To Free Yourself From The Pattern Of Debts?

In the last article, entitled How to save money, so that month by month you’re on top I told you about 5 techniques to save money.

The first three of the techniques were about daily saving, to install the habit, and the last two were monthly savings plans.

If you save money, but you keep buying on debt, you don’t get too far, because the value of rates and interest might exceed the value of savings.

Today, I’m going to talk to you about another money strategy.

As I was telling you in my story, I had a debt pattern. I was paying my bills late, borrowing money from my colleagues, and after the shopping cards came in, I turned to them.

Initially, I thought to shop at an equal rate without interest, but after that, I ended up paying only the minimum monthly amount and ended up paying considerable rates, which were almost 5–10% of my salary.

Do you think I was satisfied with just one shopping credit card? No. I had two or three. And I couldn’t handle them anymore.

To discuss debt relief plans, I will talk to you about two categories of strategies. One is about the physical action, related to money and the other category of strategies is about your emotions and your emotional and energy patterns that lie behind every purchase decision.

It is known that we make decisions based on how we feel, based on the emotions we experience. Then we justify them logically.

Emotional plan to get rid of debt

This plan is most developed in this article because money is a manifestation, a physical reflection of what exists inside you.

I started with this plan, because anyone who has results and success, is based on 80–90% mentality, emotions, and beliefs in all the action.

Successful people act more on themselves as a person and their mindset than they act on their business.

Awareness

The first step towards healing is to become aware.

What sort of problems do credits bring you? What are the benefits? In the long run, which is more important, bigger?

These questions help you bring clarity to your mind.

Every habit you have, however unpleasant it may be, brings you some benefits and some inconvenience. If the benefits are greater in your mind, you will continue that habit. If the problems are greater, you’ll change them.

Decision

To get rid of your debts you need to make a decision to do so. Then you sign it.

Me, (your name) ………………. I commit to making a plan to fully pay off my current debts and stop doing any other debts in the future. Date and signature.

After that, you read it every day, so that you commit yourself from all your heart to not do any more debts.

By making such a decision and reading it daily, when you get in front of the product that tempts you, you start to think two or three times about whether to purchase it.

Beliefs

I remember when I was a kid, I once heard a neighbor, criticizing my parents for refusing to take out loans to buy various goods, because my father would say, “What if I die during that time I am in debts, who pays the bank?”

The neighbor who also had some nice income and occasionally made loans at the bank said to me: If you want to do something in your life or have some goods, you have to take a loan from time to time.

I didn’t want to show myself as a poor person. When I got to my salary, I borrowed money to buy things I couldn’t afford otherwise.

Later, when I was a beginner teacher, I often heard colleagues say. You can’t manage to buy anything without a loan, especially on our salaries.

Thus, over time these lines became beliefs and true ways of thinking for me.

Each man acts according to his beliefs.

So, what was I doing? I was buying products on a credit card.

Then I discovered books, CDs, and personal development seminars, that through me. I began to learn about money, about beliefs and change them bit by bit.

What are your beliefs? What do you say to yourself when you feel the need to buy on debt or borrow?

Emotional patterns

First, please answer a few questions.

What’s do you spend your money on? Make a list of what you buy each month.

Do you have a habit of doing “therapy” by shopping? Be careful that if you feel guilt after shopping, that’s not real therapy. Therapy is only when it gives you joy, delight, peace, and tranquility.

How necessary are those things you buy?

How often do you buy (phones, tablets, clothes other devices, books, courses, etc.)?

You buy them because they’re on offer and you’re afraid you’ll miss the opportunity?

How do you react to the idea of losing that chance?

If you find out that the stock is limited or the offer is only valid until the x date/ time, after which the price will increase, how do you feel? How do you behave?

Do you feel like you have a worming heart at the thought of having that product? Do you feel anxiety throughout your body that prompts you to see those offers more closely?

Be aware of all those emotions and start to wonder.

How much do I need these products on a scale of 1 to 10? In which 1 is insignificant, and 10 is a very strong real need. I really can’t live without them?

Postpone the purchase decision by one hour or even a day. If they are valuables, postpone the decision even further. Watch how you feel, if you’re still thinking about that object or if you still feel like you really need it?

Techniques for transforming emotions

First of all, I’m going to talk to you about NLP techniques. If you have identified the benefits and shortcomings of these habits, with these techniques you can increase the shortcomings, the troubles you have if you continue to buy on credit.

Close your eyes and imagine the worst version of what can happen if you continue. You can imagine that debts are so high that you can no longer pay them off. You lose your job and you have no income to pay your rates. Because of the worry, you get sick, etc. What other bad things can happen if you continue? You’re losing your house? You’re getting into divorce? What else? Think of a version that will terrify you if you don’t stop.

Then think about the benefits you’ve identified and reduce their importance and how you feel.

This way, you make a switch in your mind between pleasure and pain. By making the pain bigger, you’ll run away from credit and debt.

Another technique is to work with EFT on the emotions you feel every time you can’t control yourself when you’ve seen an offer like “MUST HAVE”.

If you’ve made a mistake and bought something else on the credit card, try to forgive yourself. Everyone makes mistakes from time to time.

If you start to feel guilty, you’ll say you go to watch the offers, or do “therapy” by shopping and continue the chain of buying on debt — feeling guilty — another shopping “therapy” and so on.

The physical plan to pay your debt

To get rid of debt, you need to interfere with the physical plan, that of actual debts.

This strategy takes up very little of this article because, from everything I have learned so far, the strategy and action plan represent only 10–20% of a person’s success. The remaining 80–90% is given by mentality, emotions, and beliefs.

What is the total value of your loans/debts? What is the total amount of interest you pay month by month?

Debt payment plan

Depending on the total amount of your debt, you make an action plan for a year or two, if you have consumer loans and possibly over 5 years if you have loans for your home or car.

You start with the highest value and the highest monthly rate.

For example, I turned to a loan to the education Mutual Help House. I took a loan with lower interest, paid off and closed my bank loans, and then focused only on paying off the loan from Mutual Help House.

It’s not the amount of money you earn that’s important, it’s the habits you have.

There are people who earn the minimum wage on the economy and can only deal with it, without borrowing, as there are people who have high incomes and at the end of the month have debts, because they spend more than they earn.

Best regards,

Fănica Rarinca

Blogger at FanicaRarinca, at Fanuatodidact

Author of Patronel and Soriela a fantasy book with personal development ideas