Many people tell lies to each other to justify procrastination when they run into debt or spend a lot of money shopping. That is until they stop on their tracks and face reality. Does that sound familiar to you? So what’s behind those common money lies you might be telling yourself? Well it’s complicated.
Those who wake up and do something about their personal financial situation are more likely to get back on their feet quickly, improve their creditworthiness, and lead beautiful, prosperous lives.
No matter how big or small your debt, once you get it under control and implement your quick repayment plan, you will learn how to avoid the sting next time, before it’s too late. People with high debt levels have made a full recovery thanks to the steps they have taken to move out and follow the signs that say “Financial Freedom Is Ahead”.
Here are some money lies people tell each other. As you get caught up in this mindset, become aware of how you can change your perspective and actions to your advantage.
Do you want free money?
- Aspiration: Would you like to be spotted for $ 150 for free? Just log into Aspiration and the free banking app will give you cash for free. You can just relax while getting $ 150 just for opening a new debit card. There is no catch. This bank account is legit and only takes two minutes to get into Sign up for an account.
1. It is okay to be in debt
Whenever we buy things we don’t need or go overboard with buying things we can’t afford, there is this little voice inside of us that says, “It’s okay, people in debt are normal .. . everyone has debts. ”
Alternatively, we justify purchases from our funds with “everyone has it” and “everyone does it”. Although many more people are followers than leaders, you don’t have to be one of them.
In fact, only about half of credit card users have a debt balance. Credit Cards 101 pays the remaining balance before the grace period expires in order to avoid financing fees.
2. You have to spend money to have fun memories
Sure, we all want good memories that we can refer to when we are old. It’s great to take family vacations and be adventurous trying new things in life for fun, like skydiving and traveling abroad. That makes life worth living. We want to fill our loved ones with happy memories and good things.
However, if we do not appreciate and satisfy the simple things in life, the spurts of fun will not last and you will be miserable again after the week-long vacation. When it comes to the happiness of our children, teaching them to appreciate the time they spend playing board games, throwing balls in the garden or cooking together is more sustainable than spending a week with them on the paradise island. You can live to the fullest without basing your life on dollars and cents.
3. I just can’t handle money well
This hanging up is nothing but a lie People tell themselves when they’re afraid of learning something new that scares them. The best way to deal with stress is to face your fears. Michelle Renz, a nurse from Auburndale, Wisconsin and a single mom of two, always lived on paychecks and had a hard time making ends meet after the holidays when she went into debt to have a “normal” Christmas for her children.
Michelle feared the holiday season because her children would expect new clothes, toys like the other children, new clothes, and special feasts. So she got into debt and sometimes could not pay off the debt in time for the next holidays. It was a revolving door that led to ever deeper debts. Until one day she decided to be proactive and made the decision to go into debt.
Michelle did what most people do, searching the internet for programs that would help manage and reduce her credit card debt. When she found the best option for her situation, she carried out the plan and instead of going into debt every vacation, she saved enough money over the year and bought items with significant markups. In addition, their children were introduced to the process and also brought up in financial health. Your advice to people who think they are not good at money management is: “Face your fears, seek help, and choose an option that you can afford. If you want to find credit card debt relief, it’s easier than you think. “
Do you want financial wellbeing?
Acorns is your guide to financial wellbeing. They help you invest, save and spend smarter, starting from just $ 1 a month. There is no catch. This app is legit and only takes two minutes to run Sign up for an account.
4. My children deserve a better life
Similar to the example above, this is another myth that people indebted to keep up with the Jones. Children are likely to suffer a lot more if you don’t put your eggs in a basket and wait for them to hatch. “Saving is a habit and living with one’s means is an art,” says Lucas Montenegro, accountant at Meryl Lynch in San Diego. Wealthy people don’t go around flaunting their wealth. On the contrary, they live under their means and have the financial freedom to invest in companies that their children can manage and develop.
When you go on vacation, buy an expensive piece of jewelery or want to have a big party, you can use your credit card as a means of payment so you don’t have to take cash with you. Credit card relief options are never their problem as they do not run into debt. If you really want to help your children teach money, saving, and investing. When you are old and have money invested in retirement, your children will be glad you don’t burden them.
5. You need to have a good credit score
If you are planning to borrow more money, good credit scores will help you get lower interest rates on mortgages and auto loans. However, reputable creditors will work with you if you have not accumulated any debt, even if you do not have good credit.
Once you have significantly reduced or eliminated your debt, your credit score will go up and future loans will be offered at lower interest rates. Creditors will always lend customers with nonexistent debt, but will not continue to lend to those who owe more than 30% of their total credit limit in accounts. It’s easy to build good credit when you are out of debt.
6. You need a credit card to pay for online purchases and travel expenses
You only need a credit card when renting a car. All you need is a debit card for hotels, airline tickets and online purchases. The debit card is international, you can pay for goods and services abroad, in restaurants and hotels. Debit cards are secured by Master Card and Visa; You can use a debit card anywhere these credit cards are accepted.
So not only do you have access to outlets in most modern places, but big financial companies can support you without going into debt. My family and I have traveled to many international places just using our debit card and paying for things from a checking account.
7. It is impossible to be debt free
No matter how much your debt is, don’t be discouraged, there is a solution to every problem. It is heartbreaking to see how many people drown in debt and pay high interest rates over the years while they run into even more debt through credit cards in the meantime. It’s no wonder credit card relief companies are so in demand and so profitable!
If you have tried to pay off your debts in the past and failed, keep your hopes high. It is possible to be debt free. Nothing will work if you don’t think positively. If you think you can, you will, but if you think you can’t, you won’t. No matter how many books and articles you read about debt freedom. No matter how many workshops and seminars you attend to looking for ways to get out of debt and live a successful life, nothing is going to work unless you have that one sharp edge called hope. However, belief begins when you are deaf to lies.