10 beliefs keeping you from spending off debt
In a Nutshell
While paying down debt is dependent upon your financial situation, it’s also regarding the mindset. The first step to leaving debt is changing how you think about debt.
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Debt can accumulate for the variety of reasons. Maybe you took away cash for college or covered some bills with a credit card when finances were tight. But there may also be beliefs you’re possessing being keeping you in debt.
Our minds, and the plain things we think, are powerful tools that can help us eradicate or keep us in financial obligation. Here are 10 beliefs that may be keeping you from paying off debt.
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1. Student loans are good debt.
Student loan financial obligation is often considered ‘good debt’ because these loans generally have fairly interest that is low and that can be considered a good investment in your own future.
However, thinking of student loans as ‘good debt’ can make it easy to justify their existence and deter you from making an agenda of action to pay them down.
How to overcome this belief: Figure out exactly how much cash is going toward interest. (mer…)