Lately, I’ve been thinking about debt a lot. How much we have, how to pay it off as quickly as possible, etc. This isn’t necessarily a bad thing. The only way to pay off debt is to focus your energy on it.

But I find that I thinking about debt all the time is depressing. It doesn’t put me in a positive state of mind. And I think it can actually be counterproductive to focus on debt too much.

When you’re thinking about debt, how to cut costs, save money, and make extra payments, you’re focused on contracting. You are thinking about how to shrink your life… make it smaller… become less. This is a healthy exercise, but it shouldn’t be a full-time mental job. Otherwise, you get too focused on scarcity and your lack of resources.

This is why I believe you should also spend equal time focusing on expansion while you pay off debt. How can you do more, be more, earn more? How can you expand your income? Your dreams? Your achievements?

It’s this kind of thinking that gets me excited. It refuels me. And it’s a good balance to have when you’re spending so much time on eliminating debt.

The takeaway is this: Focus on how to contract your lifestyle so you can pay off debt, but don’t neglect how to expand your income. This will make a positive impact on your emotional state as you get out of debt.

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Topics: Mindset |

One Response to “Focus on Debt, But Not Too Much”

1. The Chef Says:
   November 28th, 2007 at 2:17 am

   inspired from your post i wrote a post on debt again… I feel that we both handle debt in a different way.

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