Eliminate Debt And Spring Into A New Debt-Free Life

Eliminate Debt And Spring Into A New Debt-Free Life
By: Jim Vrana

Most of us vow to make changes in our lives with our new-year'sresolutions. We all have the best of intentions; lose weight, stop smoking, get a better job, etc. Very few of us carry through on any of those resolutions. Two days after making those resolutions, the realities of January kick in as the weather is cold, skies are gray, we work all day, and there is a whole month left before many of us gets paid again.

Springtime however can be different. This should be the time to make those resolutions. As the weather warms up, flowers begin to bloom, leaves return to the trees, and the birds begin to sing. Springtime! A time of re-birth, rejuvenation, and resurrection. It's a time to start over. Summer is just around the corner. This means picnics, festivals, and of course, summer vacation.

We think differently in spring than in the dead of winter. Our minds are more open to new possibilities. Can we just start over?

Well what if we could get a ''do-over'' on our financial lives? Before you can begin building up the numbers in your bank account, you must first ''get up to zero''. In other words, get out of debt. You must get rid of the negative, before you can start building the positive.

The struggle with debt is nothing new. But the recent credit crunch has put our debt woes into the national spotlight. Not too long ago, we felt it was all right to be in debt. After all, we could just refinance the house again, and pay off the bills. This was a way of ''starting over''. Unfortunately, we started over with a new 30-year mortgage. That lifeboat now has a big hole in it.

We now need to think differently about our debt. Springtime is a great time to think differently. Change our mindset about debt. Open up to the possibilities of getting out of debt, or succumb to the possibility that we will drown in it.

This is especially true with credit card debt. After all, you don't go through a long process of paperwork and approvals to get deeper into credit card debt. You just drive to the store and buy something. Then that ''something'' you bought costs you even more with interest rates that rise at the whim of the bank.

This spring, begin to think differently about your credit card use. Do you really need a credit card to buy lunch, those new shoes, that morning coffee, or your weekly groceries? Re-discover the beauty of cash. If you don't want to carry around so much cash for your daily expenses, then maybe you're daily expenses are too high. If you can't afford to pay for it now, then don't buy it now. Period!

When you resolve to use cash, you will begin to hate all those trips to the ATM to re-stock your wallet. But you will gain an understanding of the money you are spending.

Spring into action to control your debt. When you start over in the way you think about and use your cards, you can then start over with your means to eliminate your debt. This new season, open your mind to the possibilities of living without those plastic cards. Then open up your mind to the means to eliminate them completely.