Positive lessons of going through debts

October 20, 2017

Paying off debts can become very stressful experience that darkens life in all aspects, but it can also be considered as a gift, because going through challenges makes you stronger and brings the mind to a new level.

Whether you chase to refinance mortgage loan or to get rid of debts on personal cards, seeing the glass half full makes debt reduction psychologically easier. Such attitude will also help protect you from making the same mistake in the future. So what are the essential positive consequences of debt burden?

Motivation and discipline

Self-sabotage is a very popular phenomenon. Unhealthy habits can completely suppress the will if you don't have clear motivation which brings passion back to your life. The goal should be worth fighting for and truly inspire you. For example: “I want to become financially independent and conscious person”. Clear, simple and achievable.

Clear motivation brings discipline. Consider debt reduction as a gym for your spending muscles. Fitting into budget and awareness will soon become part of your daily routine and bring pleasure. And besides, one positive change creates the courage to overcome other unhealthy habits.

Overcome the fear of poverty

The economic history of human kind has developed global subconscious anxiety about constant shortage of money. Some people cope with it by strict saving, others, on the contrary, start living beyond their means. While dealing with debt, you start to realise that debt is not only a burden, but also an opportunity to change your life for good. And your lender trusts to enough to provide you with this opportunity.

When the debt is repaid, you will be able to say with a very good reason: “I’ve been there and it is not the end of the world”. If all else fails, you can declare yourself or your non-performing business bankrupt. More details in our article: “How to declare yourself a bankrupt in USA”.

Rising from the bottom will raise your compassion to people facing similar difficulties. Your personal example may become great inspiration for someone who thinks he or she doesn't deserve second chance.

Realise the value of money and time

The key paradox of debt burden is that it teaches you to be grateful for what you already have. Debt will force you face the reality and start respecting your working and leisure hours, calculate earnings and make long-term decisions. Maybe they will even make you reconsider your entire career path and open your eyes on new opportunities.

Expand creativity

Weak financial situation can become a powerful source of inspiration. When you simply don't have extra cash to purchase clothes, furniture or pay for fancy restaurants, beauty salons and kindergartens you start focusing more on the quality of your spendings not on the quantity. It turns out that you can get some necessary items for free or exchange them for something you no longer use. You can learn to negotiate with people without money factor and, eventually, even build new friendship.

Besides, history of arts, science and business has plenty of examples of hungry genius enthusiasts who created their masterpiece projects in hopeless poverty just because they had no other option to spend time. Maybe by debt burden the Universe is forcing you to follow your dream?

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