Black Money Matters: How To Find Your Financial Freedom
Financial debt is, what some would call, a form of slavery. It’s an unfortunate situation, and can only get worse until you finally decide to take control of it and make it better.
The key word in all of this is DECIDE.
According to Rollingout, you must first tap into your own personal motivation, and make the mental decision to truly change your ways. Don’t spend like crazy on things that you don’t really need and be sure to put money into your savings, also, never think of saving money as a punishment.
Think deep, long and hard about why you spend money on the things that you buy, why you don’t budget and why you may or may not think about paying bills or taking care of major responsibilities on time.
The reasoning could be because you want the luxuries that you couldn’t afford as a child so, as an adult, you refuse to deprive yourself of the things that you really want. Another reason could be that your parents sacrificed so that you could have anything that you’d wanted, however, never showed you the price that they’d paid to keep you happy.
Or, it could be extremely simple, it just feels good to go out and get new stuff.
However, no matter what your reasoning is, we can all relate to at least one of these major struggles002E
While the immediate gratification that many of us feel has become synonymous with being an American, the consequences that we are later forced to face are those of long term and severe regret.
The deeper you begin to fall into debt, the faster your debt will accumulate and thanks to things such as fees, interest rates and poor decision-making, debt is one of those unwanted gifts that just keep on giving.
This is something that, unfortunately, becomes a very vicious cycle and if you are currently in this situation, it is helpful to understand that you are not alone.
According to a recent study done by the African American Financial Experience, a majority of Black Americans reported themselves as having debt, particularly from credit cards, while about half of those people were reportedly making their debt repayment a top priority.
The gap, according to Rolling Out, that we all need to focus on is the gap between wanting to eliminate our debt and taking initiative to do it. This is a latter that takes more than desire. This is something that consists of discipline and determination.
It takes mental strategy as well. While debt elimination never happens overnight, one of the most important things you could do is make up your mind right now and choose to live debt free in the future.
Make the decision today that you are willing to change your situation, and you will find yourself becoming more and more successful by doing so.
Just keep in mind that there is no shortcut to getting out of debt, you must discipline yourself and go after what you really want and you must also remember that living on a budget isn’t putting yourself on punishment. You are actually rewarding yourself in the end and the reward is well worth the hard work.
You can do it! Don’t ever second-guess that. Just go for it and fight for your financial freedom!
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