Are you going bankrupt and you feel your whole world is crumbling? Are you in huge debt and you feel so disappointed that you feel like giving up?
Imagine seeing your wife open one of three credit card bills you receive every month. As she glanced through the details, she let out a deep breath as she massaged her forehead with her left hand, with disappointment written all over her face. We’re broke!
With kids to care for, a mortgage to maintain, and credit card debts left unsettled, you are barely making it as you live from paycheck-to-paycheck.
It’s always a tough experience. It’s like getting lost in the middle of a maze and you can’t find your way out. No matter how much you try to keep everything tight, the problem doesn’t seem to end. It seems to get worse like cancer.
Many of us have gone through a similar situation. In fact, as of July 2014, 1 in every 3 adults in the US are behind on debt payments according to CNN. That’s a whopping 77 million people in debt!
It’s alarming how people fall in deep depression due to debt. Some even take their lives.
“The struggle continues. When will this ever end?” I wrote. Of course this garnered comments from friends and colleagues but one comment from an old friend stood out.
“Just stay strong and never give up. It will all end soon. It may take long, but it will end.” he said. Those words really left a mark. It was a wake-up call and it turned my mindset around.
The question I have for you now is, can we be broke and happy at the same time? Is that even possible?
My answer to this question is a resounding “Yes”. Why? Here are some of the ways you can achieve that:
The first step is to accept your situation and be accountable for it. No one is responsible for getting you in debt except you. Don’t blame the economy for your circumstance. THAT’S ALL ON YOU.
If you were capable of getting yourself in so much debt, you are equally capable of getting out of it. No one else can help you become financially free except you.
Life is so beautiful but unbelievably short and it doesn’t help your case if you’ll choose to wallow in defeat and self-pity. Things are not as bad as it seems. You may be financially struggling but there are other things in your life that you should be thankful for.
Your family is there, your kids are healthy, you have good relationships, you’re able to eat thrice in a day, and the list goes on. Instead of focusing your energy and attention on the adversities you are facing, count your blessings. You are in a better spot compared to others.
Robert Kiyosaki and his wife used to live in their car. Chris Gardner, whose life was the inspiration for the movie, The Pursuit of Happiness, went homeless for some time. Best-selling author Andy Andrews used to live under a pier.
Where are they now? They’re all millionaires and very successful. How did they turn their lives around? They never lost hope and they didn’t accept defeat. They persisted and they took action. You might be saying, “well, they’re different.”
They’re normal people just like you and me. Nothing’s impossible if you really want something and if you want to get out of debt so badly, you can. It won’t happen overnight of course but if you stay the course, you can conquer debt and put everything behind you.
It’s not always about the Money
Live within your means, get an extra job, work harder. You have to do everything you can to lessen your debt and every step, no matter how small, will count but this doesn’t mean that you can’t enjoy life still.
Always be honest to your wife and kids regarding the financial situation and teach them to live simple, modest lives and not to be extravagant in their choices and be very proud of them because they understood.
You can still take them to the mall from time-to-time but they’ll never throw a fit over a toy or shoes. If they like something, they’d ask if the items were affordable and if it isn’t, they should be completely fine with it. This will teach them to value money and to find happiness in other ways. They’ll learn to be happy together. They’ll learn to be contented with being at home on weekends instead of going out and eating at favorite restaurants.
I believe these steps will go a long way in alleviating the pains that comes with being broke. Remember, no condition is permanent, so as you adopt these practices and work hard on your own, you will certainly bounce back and share your success story with others.