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Why You Haven’t Been Able to Get Your Credit Cards Paid Off & How to Change It
You don’t have a clear “why” that you think about often
You need to have a reason greater than just wanting to be debt free. You need to have a “why” that is bigger than your excuses. Whether that may be so you don’t have anxiety every single day, so you have more energy and aren’t so exhausted from being stressed about your finances, to wanting to be able to spend more time with your family and friends, to wanting to experience other cultures and to expand your worldly perspectives, to wanting to overcome stress eating (which you turn to when you are stressed about your money), to be able to pay to take your family on a vacation, to be a positive role model for your children so you can teach them financial education so they don’t struggle as much as you have, etc.
Wanting to be debt free is great, but it isn’t good enough fuel to drive you to do what you need to do to pay off your debt, it isn’t giving you a reason to stick to your plan, it doesn’t remind you WHY you are doing it and what you will truly feel and experience when you have your debt paid off and you can do so much more and you have so much less stress in your life.
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You haven’t made paying off your credit cards, your top priority
When you are doing 100 different things and saying yes to everything and everyone, you are actually saying no to you. You are saying no to speeding up your debt repayment.
I want you to look at it this way, when you start to stand up for yourselfand start saying no to other things, that is when you start saying yes to making your finances a priority. When you are starting on your money journey, you have many years of bad habits, misinformation, limiting money beliefs and you don’t have a strong money mindset yet, so yes it is going to take time to learn these things.
But, if you never create time and space in your life to learn and implement healthy money habits and systems, how do you think you will be able to get ahead with your debt repayment and increasing savings? Saying no to other people and other things that you truly don’t want to be doing, that you don’t have to be doing, that you are doing to make other people happy, is saying no to you. You need to start saying HECK YES to you and your life. You need to be a little selfish with your time and your energy if you want to get ahead financially and stop struggling with your money.
Are you ready to feel free and not have so much anxiety about your credit card debt anymore? If you need further accountability and want a plan to get your money in order and make this year the most successful year financially, you can check out my one on one financial coaching services.
You don’t have the accountability that you need
If you don’t have accountability, you can easily give up on yourself. If you have someone you have told your goal to, then you work harder and you stick closer to your goals because you don’t want to disappoint that person. Pick someone you trust such as a significant other, a friend, family member, hire a financial coach, pick someone that you will tell your dollar amount goal and your date you are going to achieve it by to.
It’s the same as weight loss when people tell someone their weight loss goal and have someone to stay accountable to, they lose more weight. They also do it much sooner, because as humans, we will stick to something better once we have told someone we are going to achieve something, than if we haven’t said out loud to anyone, what we are going to do.
When I decided to pursue both my Power Engineering and my Holistic Nutrition education without taking out any loans, paying for it myself and not working while I was away at school, I didn’t know how I was going to make it happen exactly, but the most important thing was that I set that goal, I had a date of when I would start and when I would I would finish, meaning that I knew the exact times that I wasn’t going to be able to earn an income, so I had to manage my finances very closely during those periods of time.
What I learned from reducing my expenses, getting a system into place for organizing my finances, developing my money mindset and increasing my financial literacy, I have used these same strategies and principles to achieve success with my one on one personal financial coaching clients to speed up their debt repayment.
If you are ready to accelerate getting your credit cards paid off, follow me on Instagram for more tips and tricks: @mandyythomas
Do you have any questions or anything to add? Leave me a comment and I will respond back to you!