Continuing our series of articles on the 7 most common mistakes, we continue from the last article which covered the topic of "Convinced you are a Victim". So far, we hope we have assisted in shifting your mind set from playing victim to taking control of your financial circumstances.
These articles follow a trend of highlighting our responsibilities and accountabilities in dealing with our debt concerns or addressing how we approach our situations.
Next article focuses on you not addressing the real problem, first step is to try narrow down your problem to the exact source. So saying “I spend too much time at the mall” isn’t specific enough. If you don’t isolate the specific source of your problem, you can’t make the necessary adjustments. And even if you manage to get out of debt, you’re likely to end up in debt again.
So let’s look at a few of the more common reasons people end up in debt.
Retail therapy. You experienced a disappointment, got upsetting news, broke a nail, rear-ended another car, had a boring afternoon. A certain trigger in your life compels you to react with your credit card. A little retail therapy on occasion isn’t the issue. But if you indulge in retail therapy on a frequent basis, it’s really difficult to get out of debt because you’re still busy getting into debt.
You have to put down the cards. If this is a mistake you make, you need a new way to handle the ups and downs of life.
In our next article we focus on how you can emphasize prioritising your debt so that you can keep on facing the real problem and stay on track to a debt free life.
"RESET NOW allows anyone, to have a look at their debt and it determines if there is a monthly cash saving available. It can be done at any stage - provides you the tools to change your circumstance - and more importantly - is fully automated, you don't need to answer any questions or explain yourself to anyone... thus making it easier to address the problem and there is no need to ignore the problem anymore."