We recently posted about Our Top Side Hustles That Helped Us Get Debt Free, and while writing that article I was thinking about how many people across our country want to become debt free but will never make it because of what I call a “poverty mentality.” I know all about this mentality, because I was raised by a single mom with very little money.
It has been even harder for my mom to break this thought pattern because she always had to borrow to achieve a better lifestyle for our family. My mom’s house is now paid off and she is interest-debt free. She still has a few hospital bills, but they are very small, and she owns her home and her car free and clear! While debt may give the illusion of a better lifestyle, it really keeps you in bondage. Maintaining a debt free attitude can be very tough, and we want to give you some tips on how to maintain a debt free attitude.
1. Surround yourself with like minded people. If you hang out with people who live in debt, chances are that you will also accrue debt because it’s accepted. Don’t get me wrong, we have friends who have debt and we still hang out with them, but we surround ourselves daily with other people who are living the debt-free lifestyle. I follow those people on Facebook, instagram, and any other social media where I can get daily encouragement. Sometimes these are friends, and other times it might be someone I’ve never met, as long as they are promoting the DFL (debt-free lifestyle). Finding that daily encouragement is 100% necessary, especially when your car breaks down and you’re so tempted to take out an auto loan. Maybe you go to the grocery store and see that snobby girl from high school and she sees you driving away in your twenty-year-old mini-van. Chances are you might feel discouraged by her looks or judgement. That’s why it’s essential to surround yourself with like-minded people, so you don’t fall back into the debt trap.
2. Encourage yourself daily. I keep pictures of my husband and kids everywhere at work to remind myself of why I’m trying to maintain a debt free lifestyle. I don’t want to keep working for more material things that I can’t afford. If I have to be away from my kids and family during the day, it’s because I want financial freedom, not more things. I also listen daily to radio shows, podcasts, and I read articles to help maintain a debt-free focus. I will admit that the longer I maintain the debt free attitude, the less I get tempted to return to debt. However, I still think it’s good to encourage myself on an ongoing basis so I don’t fall back into bad habits.
3. Patience. I think everyone could use a little more patience, but waiting to become debt free feels similar to going through infertility. Sometimes infertility made me believe that I would never have a child of my own. It was hard to believe that I could eventually become a mom, like it was a surreal, unfathomable dream. However, after waiting eight years for our first son, then another ten for our second, I can understand patience on a whole new level. Waiting is hard, and keeping a good attitude in the waiting is even harder. That’s why I read Bible verses on patience all….the…..time. Here are a few verses to help keep you motivated!
4. Wisdom. Back to the Bible on this one. I love the entire book of Proverbs for this very reason. However, making a wise choice isn’t always easy because we live in a microwave society and we want it now. Wisdom means slowing down and seeking out the wisdom of others, and this can take some time. If you need some wisdom on money, I highly recommend the book Your Money Counts: The Biblical Guide to Earning, Spending, Saving, Investing, Giving, and Getting Out of Debt
5. Get away from materialism. If you haven’t read our article on How to Become a Minimalist, please read it soon. The sooner you can get away from focusing on material things, the sooner you can focus on becoming debt free. This is really where you need to adopt a whole new mindset about your money. Money is linked to your time, and don’t waste your time on things you can’t take with you after this life. My father-in-law’s favorite saying is that there are no U-Hauls at the graveyard!
6. Get some grit. This is a buzzword in education right now for students who persevere in their learning. It is no different in the debt free lifestyle. You will need to push through tough times (the car breaking down, the roof leaking, a hospital bill, etc), and this takes grit to push against the temptation of going into more debt. It may mean giving up something you wanted buy, or even sacrificing to the point that it hurts. That is grit.
7. Be confident. Anyone can get out of debt if they truly want to be financially free. Be confident and have faith that you will become debt free. What may seem like an eternity will come quicker than you think. Take time to examine your heart and your thoughts and see where you are being negative in your thoughts about your money, then work to eliminate these thoughts. You CAN become debt free!
Comment below and let us know how you maintain your debt free attitude.
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