Three personal changes to make to eliminate debt

When it comes to building wealth, you want to be able to stack your chips nicely. You want to have more money coming into your accounts then you have going out of your accounts. Also, not only do you want your profits to be higher than your expenses, you want to find ways to keep your expenses low and make them lower as the years continue. On that note, the first subject that I would like to speak about entails eliminating debt.

When it comes eliminating debt, you must look at it in a revengeful way. Many people in today’s world have viewed debt as a friend. They believe that credit will get them the things they want and that they will be happy afterwards forever. They believe that refinancing is the key to solving a problem. They see cash advance stores as convenient to their needs and are satisfied with owing others money. However, what they are failing to see in that is the stress that they experience after the debt has been created. They do not see themselves running from bill collectors or blocking phone numbers as companies are calling them for their money. They do not picture the amount of interest they will owe when they cease to pay the money back that they initially borrowed. They have not taken the time to write out their finances and see just how much of their budget is leaving them in comparison to how much income they are earning. But, I do not want you to be in their situation and if you are I want to enable you to escape it. Therefore, here are three things in your life you should adjust to eliminate debt.

Your Thoughts

The worst part is that many people really believe that one day they will be out of debt without changing any of their habits. But, the first point I would like to make when it comes to eliminating debt is that people must change the way they think about the things they need.
Do you remember being a child and not having a credit card? Do you remember when you were not old enough to get a job? Do you remember when you had to ask your parents for money or when you were working and had to wait for your paycheck to come in before you could buy something because you were not old enough to own a credit card? Little do you know, those were some of your wisest times. You learned the value of money because you had to save it in order to get what you wanted. You did not fall into the amount of debt that you could fall in with credit cards because nobody was going to give you a loan without you having a full time job or a credit score. If you wanted something, you had to get it from somebody else. Therefore, because of your pride and not wanting to have to ask all the time you passed up on a lot of things that you honestly do not miss today. This mentality of being patient and waiting is one that you must rediscover and rekindle as you seek to eliminate debt.


If you have to have the nicest of things but cannot afford to pay for them without a loan, you may need to reconsider just how much you need them. You also should consider alternatives to those nice things that you feel that you really need. There is no need for you to go in the hole with the goal of being comfortable. Why, because the truth is you will be uncomfortable and further in the hole than you imagined when the interest starts to accumulate.


If you have habits that cause you to lose money, you obviously will have to change what you do for pleasure. If you like to gamble you are only hurting your financial status. If you always eat out, you should definitely consider learning how to cook. If you like purchasing music albums are watching a lot of movies, you should definitely consider getting a subscription service and save yourself hundreds if not thousands of dollars a year. One of the best but unspoken of ways to eliminate debt is to find something that you like to do for fun that does not cost anything at all and you will save money in the long run as you will not be doing other things that you have to pay for.

About the Author

Valerie Lopes

Valerie Lopes

Valerie Lopes is a writer and homemaker that no longer hides her frugal nature. When the economy was booming her paired down lifestyle and constant striving to live a frugal live was called parsimonious and cheap. In secret she would can jams, jellies and chutneys, knit and sew clothing and...