3 Debt Elimination Mindsets You Need To Have

Debt can be a real downer, especially when the people you owe it to keep calling day and night.

In order to get out of debt, you need to get in the right mindset. Here are three different mindsets that you need to start getting into.

It’s you or them

It’s a war between you and the creditor. You messed up and got into debt so they are winning. You now have to go on the offensive and attack that debt like it’s the last thing you’re ever going to do. They don’t care how you pay them as long as you do. Don’t let them control your life, sacrifice so you can set the tone and pay that debt down. It’s you or them, who’s going to come out the victor?

It’s now or never

When’s a good time to start getting out of debt? Now!!! Everyday you wait to tackle the debt you’re just digging yourself deeper in the whole to nowhere. If you wait, you’re just going to get more depressed and it’s going to be harder to get in the right mindset. There is absolutely no reason to wait. Just do it.

The Bare Necessities

No more going out, no more movies, and no more clothes. Yea, I said no more clothes. You have plenty to get you by, I promise. You need to cut back as much as you can and put that money towards debt. Yea life is going to suck for a little bit, but it’s going to suck even longer and a lot more if you don’t get rid of that debt.

You’re in control of your life, No one else. Take responsibility for your debt and take action today. No one ever succeeded without sacrificing a little. I’ll leave you with a quote by David Kenyon Webster

Those things which are precious are saved only by sacrifice.

Leave a Comment

{ 6 comments… read them below or add one }

Tim @ Faith and Finance

Quick and to the point – very nice.

My wife and I will occasionally have a ‘spending freeze’ where we don’t go out to eat or stop another luxury item in our budget if we want to get ahead in a certain area.

It really works and the shift in your consumption attitude changes for the better!



I think that realizing that you are in control of your life is they key there. Once you realize that, you can make changes and get out of debt.



This advice is simple and to-the-point, but it’s all the advice anyone needs for paying off debt. We are in agreement; our spending has been virtually frozen – who needs more clothes? We have closets full. Who needs to go out when bills need to be paid off? The weight-loss saying is “Nothing tastes as good as thin feels.” Well, I don’t want to buy anything other than my way out of debt.


Everyday Tips

Very good advice, although many people will not want to hear it…


Khaleef @ KNS Financial

I love it! We need to act as if we are in a war against debt and mindless spending! Also, too many of us feel as though we are entitled to a certain lifestyle and are unwilling to give that up in the short run, for a life of freedom!



Very good, straight forward post! You’re absolutely right, though, the best way to attack debt is head on, with no excuses.


{ 2 trackbacks }

Previous post:

Next post: