Be Mentally Prepared for Financial Debt Solution
Posted on January 12, 2008
Filed Under debt solution |
Mentally Prepared Is the Most efficient way for your financial debt solution
Purchases based on what you want rather then what you need have made you in bad debt, and there is only one financial debt solution that works; be mentally prepared. It happens to most of my friends and family around me, it’s the nature of our human being as we always pursuer improvement in your lifestyle. Positive purchasing desire will make you move further in your career as it acts as a motivation and momentum to drive you for a better lifestyle. However, if you cannot control your “necessary” desire, you buy things based on your emotional then this will drive you to debt situation. The only way to stay out of debt is to make yourself mentally prepared.
Image Credit: passage Douard (rdo)
You might have listen to tones of advices from your friends to keep you out of debt. But, believe me, theoretically the advices might works but it you didn’t change your mind set and be mentally prepared, you will be sooner or later back to debt situation. I will take one example for myself for better illustration. In year 2005, I planned for a budget of 2500 for my laptop purchase. I purposely wait for the great promotion near year end, so that I can save some BIG bucks and yet get some latest hardware.
Did you read my statement correctly? I said “save some BIG bucks and yet get some latest hardware”. There are 2 reasons in this statement to support me on this purchase, number one: I wanted to save money; and the most important, number two, I want the latest hardware!!!
When the promotion came out, I can actually get my laptop for RM 2800 (~USD830), but based of my “second” reasons mentioned above, I choose to upgrade the CHEAPER range laptop to a BETTER one which gave me latest hardware yet RM 600 (~USD176) in extra.
Why will this happen? Caused I’m not mentally strong in my decision and mentally prepared for changes, and I got easily influence by the promotion and my desire. I got more that what I actually NEEDED. I don’t need that good hardware in the first place, I seldom play PC games and I got it just because “I want it”. I’m totally forgotten about my budget constraints. This is just one of the examples in the daily life, as predicted; it has leaded me into debt at last.
There are tones of campaigns running by many credit cards company that offering you 0% balance transfer. If you didn’t change your mind set, the money transfer will only make you out of debt in a short term. Sooner or later you will get into debt again and this shall not be the best debt solution. Simple because human desires are never ending!!!
So said it to yourself, I want to take control of my money and instead of letting emotional and desire to control my money and this shall be the first part of the financial debt solution. When you are mentally prepared, we shall go for the next section. Stay tune.
Above is all based on my personal experiences and it’s solely for my Debt Solution Sharing, wish everyone could stay out of debt.
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Debt Solution Sharing was established in 2008 to share my personal debt solution from my previous experiences.
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