I went to lunch with a friend today. We met at Chipotle and chatted about the last few weeks. Of course, the subject of debt came up, because both he and I are in debt.
He asked me a few questions about my approach and what I’m doing to make progress. So I told him.
He also mentioned that one of his problems is commitment. At one point he had paid off $25,000 on a credit card and gotten it down to zero, which is really quite good. But the newly available credit proved to be too tempting. It wasn’t long before he had maxed out the card again.
If you look at my situation, I have a motorcycle I could sell. I haven’t sold it yet. Why? For one, I’m waiting for better weather before attempting to sell it. Two, it’s hard to part with. I like having a motorcycle.
In my friend’s situation and my own situation, we have to ask ourselves, “How committed are we to getting out of debt? Is it really that important to us?”
Frankly, I think everybody will say they want to be debt free, but the reality is, most of us aren’t willing to do what’s necessary to get there. And what exactly is necessary?
- Sacrifice.
- Doing without.
- Getting uncomfortable.
- Being willing to look ridiculous in front of friends and family.
How about you? Are you all talk, or are you actually doing something to get out of debt?
I ask myself this question too. Because debt reduction, like losing weight, requires commitment. You’ve actually got to do something to make it happen. And it’s far too easy to feel committed without ever being committed.
In the end, I’ll have to decide whether I want the motorcycle or the debt. It’s that way with any purchase made on credit. Do you want the new TV or the debt? The new car or the debt? The new clothes or the debt?
When real life stares you in the face, your actions will always speak louder than words.
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It’s weird you post this now because after a 5 year battle I finally decided I wanted to be debt-free and unfat. I’ve been saying it for over 5 years but I finally committed to it, said no to some expenses that would stand in my way, and have been at the gym regularly. It’s like an alcoholic: you have to reach the bottom to want the top.
Susan – Congratulations! I’m so happy you’re moving in the right direction. And maybe it’s not weird I wrote this post… maybe somebody knew you needed to hear it–and I’m not talking about me. ;-)
Hitting the bottom is always a good motivator… just as pain is always a stronger motivator than pleasure.
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