It’s evident that being loaded with debt causes nothing but stress. I know this because I’ve been in your shoes before. It’s something that’s always lurking in the back of your mind and keeps you up at night. You’re always thinking about different ways to either make additional income, or come up with next month’s payment.
It’s very easy to get clouded with confusion and make poor decisions without thinking through your options. For example, you might be haste to file for bankruptcy, get sucked into a get rich quick scheme, or even spend more money to make yourself feel better.
This is why I encourage everyone to get their daily exercise. I’ve mentioned in my previous articles that one quick way to save money is to cut your gym membership, but I’m definitely not implying to be a couch potato.
Charles Duhigg, author of The Power of Habit, states “When people start habitually exercising, even as infrequently as once a week, they start changing other, unrelated patterns in their lives, often unknowingly. They use their credit cards less frequently and say they feel less stressed.”
Habits are contagious. When you start to develop a habit, such as a daily or weekly exercise, you can make it a habit to go through all your daily expenses everyday right after your workouts. Exercising allows you to clear your mind and deters you from making poor decisions. It boosts your confidence and gives you the extra push to overcome any obstacles that might come your way.
When you feel great about yourself, you might even start to notice a change in your lifestyle. Perhaps you were throwing money out the window on your midnight snack run, packs of cigarettes, or even buying soda every day. When you’re trying to get out of debt, it’s not your biggest expense that really matter. It’s all about the little things you spend on every day. Imagine if you’re able to save only a $100/month on petty items and you then applied it to your credit cards. We’re potentially talking about thousands of dollars in interest saved.
It’s not going to be an easy task, but the most important lesson from being in debt is to make wise decisions. When we’re dealing with your financial future, it’s not something gamble with.