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I got an email from an old client telling me that she appreciated everything that I was doing, trying to get women to put themselves first, stop emotional overspending and create an amazing life, “but I really just want to get out debt fast and have this debt noose no longer tied around my neck. That’s what I want more than anything else in the world.”
I’m a straight shooter and have been known to dish out some tough love from time to time, so I responded with…
Really? You want to get out of debt fast more than anything else in the world?
More than a fantastic relationship with a special someone?
More than seeing your children happy and full of joy?
More than fabulous girlfriends who will ditch work and meet you at the beach?
More than sinking your toes in the sand during your next adventure?
More than calm, peace and joy in your life?
DO YOU REALLY WANT TO GET OUT OF DEBT FAST?
Of course, she never wrote back.
Because what I’ve been trying to explain to her is that her budget doesn’t work because she is in a constant cycle of deprivation, shame, guilt, and overspending. And until she stops budgeting and starts fixing her life, her budget will never work.
I’m sure some of you are reading this and wondering where this is all coming from. Just a few weeks ago I was telling you how to create a budget.
The truth of the matter was I was afraid to be this blunt with you.
But I realized I was doing you all a huge disservice because what I have discovered over the last several years is that when you fix your life, the money follows.
Emotional overspending which by the way 49% of American’s admit to, is primarily responsible for the accumulation of massive amounts of credit card debt. Out of the 64% of people currently in debt, mostly women admit to emotional overspending.
I think this number is on the low side because men don’t want to admit they are emotional overspenders too. But anyone who lives with a man who fills his house or man cave with his toys is probably doing so for the same reasons women fill their closets with shoes, baubles and other “necessities.”
But what I also realize is that many of you need to feel like you’re at least trying to live on a budget and I get that too. And there’s nothing wrong with trying as long as you realize you have to do the inner work FIRST so you can see the outer results manifested as more money in your checking account and debt free from credit card debt.
One of the ways you can work on the outer financial picture this year is to start saving money automatically with a service like DIGIT.
Why I like this method so much is because you don’t have to think about it at all. It’s entirely done for you. DIGIT evaluates your spending and deduct small amounts every day to help you build savings. I started using them last year just as an experiment as I already have automatic savings set up with Capital One, and quickly found I had saved hundreds in a short amount of time. Best was I didn’t miss the money at all.
So let me ask you? Do you really just want to get out of debt fast or do you want more?
What I know to be true is when we go after what we really want, we finally create the financial peace we were always meant to have we don’t want to change a thing.
It’s your life – live it with passion!
Don’t forget to sign up for DIGIT right now and start saving automatically. You’ll be amazed how much you’ll save by this time next year.
Also, I’d love to hear from you and tell me what you want more in life than to be debt free fast? Let me know in the comments!