The world is full of people who want to advise you on what to do to get out of debt (usually for a fee). Here is some advice on 4 things you shouldn't do--free of charge!
1. Float your debt perpetually. If you pay off one card with another, you need to have a plan for THAT card. Hopefully, a plan that doesn't involve getting yet another card!
I hate to recommend floating your debt from card to card, even though people do manage to do it successfully every now and then. To do it successfully, however, you need a plan. More on that in the final step.
2. Dwell on your financial situation. It would be irresponsible to pay no attention to your financial straits, believing the Law of Attraction will somehow take care of things if you just think like somebody who has money (the Law of Attraction doesn't work that way).
By the same token, it would be almost as irresponsible to focus on how bad things are--especially if you are taking steps to make them better!
One way to get out of the negative-focus habit is to realize that things really are better, every time you do something to get out of debt. Every time you pay a creditor or save money, you have just made your life better. Focus on the positive and soon it will snowball.
3. Focus on getting a higher income. Yes, this is something you shouldn't do. Sound counter-intuitive? It's not.
I've said it before but it is certainly worth repeating: you don't increase your income in order to get out of debt. You increase your income in order to increase your income.
All most debtors do when they increase their income, is simply increase their debt as well! This is as true for multi-millionaires as it is for struggling families.
The factor at work here is not the amount of money we make, but whether or not we choose to live within that amount. Most people don't.
4. Fail to get a mentor. In any large endeavor, it will help you tremendously if you find a mentor who can help you work your way through a tough situation.
If your goal is to get out of debt, this person should be someone who has either gotten themselves out of financial troubles or helped others do the same--preferably both.
This could be a friend or family member who has pulled themselves out of tough times and is willing to spend time and effort to help you do the same. It might be a paid financial advisor. You may be able to take advantage of a nonprofit group dedicated to this task. Or, you can try a paid coaching or mentorship program.
Whichever route you choose, you will get out of debt much quicker if you have some kind of mentor guiding your way through. You'll probably spend less money doing it, even if you pay money for the mentorship. These are only two reasons why you should find a mentor ASAP!
