Writing Sample. This article was written for Money Coach Sheila Walkington.
1. The average Canadian has over $36,000 in debt. OK, after reading a statistic like that you can’t help but compare yourself to it, right? Before you either jump for joy, or call for the whipping stick, remember that number is an average.
Many people have a lot more debt. And many Canadians actually live debt-free.
You might have more debt than the Canadian average; you might have less. It doesn’t matter – what matters is how well you sleep at night AND that you could be part of the A team that is bringing down the average. You, like many others, can live debt free.
2. You have debt because you have had more money going out than coming in.
That isn’t a statement about your character; it is a simple calculation of income and expenses.
Debt isn’t a curse. It isn’t an elephant on your chest. And it isn’t permanent.
It can feel like all of those things. But it really isn’t. It’s where you are at today. So try to keep debt in perspective. The emotional and mental hurdles are often of the toughest obstacles my clients need to overcome, but we get there.
3. Debt Costs. If your debt causes you stress (accumulated strain), add that to the cost of borrowing (accumulated interest) to see how much your debt is really costing you.
I know, it’s hard to imagine life in the big city without debt. So, here’s a success story to inspire you. Just 12 weeks ago, 9 women joined my Debt Free Challenge. In that short time the group has shed over $10,000 in debt! What’s their secret? They are committed, motivated and excited about reaching their goals. And they are turning financial education into financial power.
Every step you take to pay down your debt makes life a little lighter and brighter.
Want permission to republish this, or any other article I write with my clients? Email Kim Lear.