The Life Changing Way to See Debt Realistically

For me, I need something tangible to feel it’s effect, either good or bad. I need to see how I am spending time, money, resources efficiently or inefficiently. I need that grasp on reality. And boy did I ever face such a fact when I laid out $1023.85 on the desk.

While in college, I purchased a brand new Sony Cybershot 7.2 megapixel camera with 8 gb memory stick for roughly $450. Yes, this was a while ago when that camera cost THAT much. I signed the paperwork for my first credit card at the electronics store and was on my way with a brand new stunning camera along with brand new burdensome debt.

The debt wasn’t too bad. I actually had it paid off within a month. The problem was the credit companies lured me in. They gave me that little bone and I came back begging for more. My second credit card had a limit of $1000. I probably had about $250 on it when I signed up for my third credit card. I never had more than three credit cards but I did have about $3500 available credit open to me.

Slowly but surely, I racked up about $3000 in credit card debt while still in college. I loved spending and saving was going to be for after college. Riiiiiigggghhhhtttt…..

After college, I continued my spending ways. I never got higher than $3000 debt, but it barely ever moved downward either. I was just throwing money away hand over fist. I didn’t realize that cause I was young and stupid. I still am in a lot of ways.

When I finally started my 9-5 job and made some good money, I had the same debt I had for the last few years staring at me in the face. I got a credit card paid off. Then another. But this one pesky credit card still had a balance on it and everything I did, which was pretty much nothing more than pay $20 more than the minimum, wouldn’t make it go away.

One day, I got fed up with myself and decided I wanted that F*%$#@^ credit card paid off. The only way I was going to realize this was to see how much my debt was.

Now here’s the part where I tell you I lied a bit. I don’t know the exact figure like I said up top ($1023.85), but it was just over $1000.00 with some change. I went to the bank on that next pay day and pulled out this figure. I went home, worried and determined. Worried because I had a grand cash on me and didn’t want to get jumped and determined because I was going to face reality. I laid out the money in my apartment by myself. I sat there and looked at the 50 $20′s and then some and it hit me.

“Not only am I losing this money, I am losing more money on top of this for interest.”

It was hard enough to realize I was losing all this money in front of me. But what hit the hardest was that I was losing more on top of that. That really hits you hard. Reality is a bitch sometimes.

I went back to the bank not but 30 minutes from when I had just left the bank. I deposited the cash back into the account. I immediately went home and paid that credit card off. I felt this huge burden rise off my back. I was free and wouldn’t be blowing anymore money on interest.

Without facing that reality of what I was wasting, I may have continued to pay that good ol’ minimum the credit companies love to see come in each month.

My suggestion to you though is not to go to the bank, like me, and pull cash out in thousands. I could have lost it or been robbed. What I would suggest doing is opening a blank document on your computer, totaling your debt, typing that figure in the biggest boldest font you can, print it out on paper and post that figure everywhere in your house. On your fridge. On your door. On your wall in front of your desk. On the ceiling above your bed. On your baby’s crib. On the passenger side of the car. EVERYWHERE. This blasted thing will bug you so much that you will want to pay it off so fast just to rip those bloody signs down.

Try this out. Let me know how it works for you. Click Here to leave a comment if you think this worked…

Thanks for reading….Have a good one…

Dave
LifeExcursion

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