Your Debt Problem
Will Ruin Your Life
Your biggest debt problem is not that your credit score is ruined, or that you are paying massive interest rates, massive interest payments and that you are a slave to the debt holders. No, the biggest debt problem is that you are paying for the past now in the present and you are paying for the past far into the future.
You can only be happy when you are living in the moment.
When you are paying for the past in the form of debts, old payments, overdue payments and even deferred maintenance, you keep going over and over the past. It is always there. Months go by and years go by and you are still making payments for things you bought years ago and you are still waiting to do things you should have done years ago.
This way of being is nothing more than misery forced on you by others and by your lack of knowledge and wrong choice of actions in the past. You are forced to keep reliving these mistakes. Until you pay for all this, your life does not seem to be your own.
I keep seeing this play our in my life over and over again. I have gone bankrupt. The house my ex-wife was in was foreclosed. So the majority of the debt that I had has been eliminated. But there are still payments to things that happened in the past that I have to deal with. Every time I play around with numbers, thinking what I would do with a large sum of money, I think about paying off these old debts first and taking care of all the deferred maintenance that I have let go for years.
This deferred maintenance debt problem for me is:
1) Having my son's wisdom teeth removed.
2) Getting dental appointments for me and my 2 kids.
3) Fixing the air conditioning, passenger mirror and 2 rear windows on my Jeep.
4) Getting my son's car in for maintenance.
5) Paying the energy bill on the house my ex-wife was in that was foreclosed. The utility company will shut off the power on the place I am in now if I do not pay off that old bill. They have me by the you know what.
6) Paying off the 1 small credit card bill I do have.
7) Finish paying for my daughter's braces.
8) Buying the shoes and clothes I need to look good and feel good.
9) Stocking up my house with supplies.
10) Buying a few of the things I have wanted for a long time.
11) Buying new clothes and shoes for the kids.
12) Buying a new bed for me.
13) Renting a larger place for me and the kids.
These are all things that I really have wanted done for a long time. They gnaw at me constantly. I work on this debt problem every month but I just want them gone. I want to think of other new things I want, not continually think of the old things that I have had hanging around so long.
I should be grateful. I have fixed and corrected and paid off many old bills and have been making progress in many areas. The above list was a lot longer 1 year ago. So I have been working toward the ideal life I want.
But think how great your life would be if you had no debts and nothing was deferred.
If you need something, you buy it.
If you get a bill in the mail or on-line, you just pay it immediately.
If your car needs to be repaired, you get it repaired.
IF your car has some years on it or miles on it, you buy a new one.
If your home needs something new or fixed or repaired or remodeled, you do that. You don't need to wait for years to accumulate the money or apply for a loan, you just pay for whatever you need or want.
Don't you see how this type of living is a more relaxed, stress-free type of living. Can you see how a person with more means and resources can live a far more gracious lifestyle?
You don't have to believe the lies that say if you have more money, or a bigger income, you will just have more headaches. This is just a way to keep you in your place. And your place is in meager circumstances living paycheck to paycheck in near misery.
You don't want that. You want to get past this day to day living where you are still paying for the past. You want to pay into the future. When you get a big check from whatever source, you don't want to pay off an old bill, you want to go out and do something or buy something new. That is the way a wealthy person lives.
You don't want to keep bothering about these old bills.
That is what the major harm is in the old debts. Not the interest rate, not the money you would make if you invested that money wisely, but in how it affects your mindset now.
Instead of every time you receive money you start thinking of new things to buy or new experiences to have or how much farther into the future you can pay things to increase your freedom, you have to juggle this money around to try to pay old bills or try to take care of something you wanted to take care of a long time ago.
It hurts your mind, more than your finances. Obviously, it hurts your finances, but it spoils how you think about money. Your debt problem wears down your ability to enjoy life now.
There are ways to eliminate debt and get your life back on track.
Once you are debt free you can find a way to repair your credit and have a better life faster. Once you are out of debt and have a good credit rating your debt problem is solved.
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