What does debt full circle mean? When you get that first credit card in the mail, the one you've been trying to get for sooooo many years. Just when almost giving up hope of every establishing credit, there it is! You literally beam with pride. You have an exciting feeling of accomplishment and wealth.
Then all of a sudden every credit card company on the planet has faith in you it seems and here open the doors to a financial blessing. You swear to use your credit responsibly and manage your credit wisely. You certainly have the best of intentions. But then, two things slowly creep in to take control of your senses. Self justification and instant gratification are just a couple of the reasons we let ourselves loose control of our finances and get consumed by debt. I believe they are the most powerful reasons!
Instant gratification is the norm of today's society. We want it now, we want it fast, and we want the most up-to-date version. Technology is booming and consumer debt is keeping right up with the call to buy! Ultimately, we make our own decisions. However, for most people, society's expectations play an important role in the decisions we make. This is just human nature.
Then, even while knowingly teetering on the edge of overextending our finances, we can always justify a purchase. Why, at one time I was a real pro at self-justification. Certainly, I deserved it, I worked hard for it, the recent raise would suffice to handle the extra expense, I needed it, that's what the credit was for (to buy things I couldn't afford with cash right now), it would certainly cost me more later, it would save money in the long run, etc, etc, etc.... The reasoning of self justification is endless. Driven only by your wants and desires. Once you've given in to self justification no purchase is forbidden. Anything goes!
Then comes the, worry. Maybe I'm getting in too deep. Do I owe too much? It is getting difficult to make ends meet. Then as you realize you're living paycheck to paycheck , despite your newfound wealth, the, stress factor moves in. You start to realize your mistake in losing control over your credit. When you realize the magnitude of the problem, worry and stress quickly turn into regret and shame. How could you let this happen? Where and when did it go so wrong. You promised yourself you would handle your credit responsibly. But, instead you used your credit with no control or planning.
It is truly humiliating when you realize you've have screwed up your finances. Many go into denial and simply keep on spending until credit limits catch up and there is no more to spend or until they cannot keep up the payments any longer. Some will get the message sooner rather than later but, most will find a way to come back to reality.
It is a struggle at this point to take control of your money and make a plan to recuperate. But it can be done. Millions of people have done the very same thing you have. That can be comforting, to know that you're not the only one who lost control of their money. It is even more comforting to know that millions of people have found there way back as well! Relief comes in knowing that all is not lost. You can take control and make a plan to take control of your money.
And as you continue to follow your plan for financial recovery, you will see your finances improve. Your debt will decrease and your savings increase. Your financial future looks brighter and more secure. You are less stressed and no longer worry about how the bills will get paid. You feel wealthy again. With that last debt payment comes a sensational feeling of accomplishment and a warm feeling of pride. The debt cycle has now come full circle.
It's a tough journey to have to take. But, one that you certainly will learn a valuable lesson from. Pass that lesson on to your children, your grandchildren, nieces and nephews, and anyone else you can get to listen. Acknowledging your own weakness can be difficult. But, if you can keep even one person from making the same mistakes, then it's worth telling the tale. Be proud of yourself for the strength within you to endure the journey back.
Debt - full circle:
Pride>>accomplishment>>wealth>>instant gratification>>self-justification>>worry>>stress>>regret>>shame>>humiliation>>relief>>wealth>>accomplishment>>Pride
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Cheryl Johnson is on a mission to become debt free and teach her four children to become financially independent. As publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com she hopes to guide and encourage others to become debt free by offering a plan, ideas, and resources for household budgeting, debt management, and lots of money saving tips and strategies.
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