59 Days | Debt is Not a Financial Problem

All Quote are From: Why Debt is the Symptom, Not the Problem | MSN Money News

If you want get out of debt permanently, first consider this: Debt is not a financial problem. Hard to believe, but true. 

Debt is actually a personal problem that masquerades in financial clothing. That is why so many people have persistent problems with debt. They look outward for financial solutions when the true solution is found by looking inward.

I can tell you from our personal experience that making more money is not the answer to your financial debt crisis.  Thanks to becoming health coaches, Dan and I more than doubled our previous income (he is an architect and I was doing some paid writing from home).  We had big plans for our health coaching money.  The biggest of which was to get out of debt.  BUT...we aren't out of debt.  In fact, to be honest, we are in the worst financial place we have been in since we've been married.  

WHY?

Because we were trying to fix a "heart issue" with money.

Everyone knows they need to make more and spend less to solve their debt problems. So they pursue financially driven solutions to relieve financial symptoms. It seems logical on the surface. 

Whether you choose to consolidate your credit card debt to lower interest rates or you choose any of the quick-payoff strategies (inheritance, gift, sell an asset, bankruptcy, home equity line of credit, or refinancing), the reality is you are treating the symptom and not creating a lasting cure.Your financial problems are merely the accumulated reflection of the many small financial mistakes you are making on a daily basis -- often without knowing any better. That's why teaching a debtor to spend less and earn more is like telling someone to lose weight by eating less and exercising more.

Everyone already knows that is the answer. The difficult part is not knowing what to do, but actually getting it done. The solution lies in your daily habits and attitudes.

Sound familiar?  Sounds like the weight loss and health journey, right?  It's not wrong to lose weight--it's a GREAT thing!  But why do we emphasize the Habits of Health system?

Because if you aren't address the underlying habits and attitudes, you will relieve a symptom, but never truly treat the underlying habits of disease.    

This week, I want you to challenge you to really consider what lifestyles, attitudes and habits are you hanging onto...even as you've been having measures of success...that are actually hurting your desire for longterm health in body, mind and finances?

There's nothing wrong with making more money.  It's a blessing!  For some of you, it is critical. (And I'm always looking for motivated, caring health coaches to add to my team. It is a fabulous at-home job with great financial benefits.) HOWEVER, the blessing of money isn't the cure to poor financial decisions.

The truth is the financial results of your life aren't dependent upon how much money you make. Instead, they depend on how well you manage the money you already have.