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Debt Is Not A Financial Problem

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Debt is not a financial problem. Debt is actually a personal problem masquerading in financial clothing to deceive you. That is why so many people have persistent problems with debt. They look outward for financial solutions when the true solution is found by looking inward.
Defining  your debt problem is critical to solving your debt problem. 
Since most people in debt define debt as a financial problem, they look for financial solutions. Big mistake! That is why their debt returns shortly after paying it off. They fail to identify the root cause of debt opening the door to repeating the vicious cycle.

 The number one reason for debt is personal life habits and attitudes that result in overspending. In other words, the true solution is personal – not
financial. That is a key principle. Understanding this principle is what will  make or break your success in slaying the debt monster – permanently.

 Everyone knows they need to make more and spend less to solve their debt problems. As a result they pursue financially driven solutions to relieve financial symptoms. It all seems logical on the surface.

Whether you choose to consolidate your credit card debt to lower interest rates or you  choose any of the quick-payoff strategies (inheritance, gift, sell an asset, bankruptcy, home equity line of credit, or refinancing), the reality is you are treating the symptom and not creating a lasting cure. You are performing the financial equivalent of blowing your nose when you have a cold. 

The only permanent solution is to change your life habits and attitudes that got you into the problem in the first place. You are the cause of your debt, and you will be the solution. Your financial problems are merely the accumulated reflection of the many small financial mistakes you are making on a daily basis – often without knowing any better.


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  • Home
    • About the TWF
    • Blog
    • TWF Disclaimer
    • Advertise With Us
    • What Do Members Say?
    • Join Mailing List
    • Contact >
      • October 2014 Meeting
  • Next Meeting
    • Previous Meetings
  • Friday Minute
    • Older Friday Minute Newsletters
    • May 2014 >
      • Are You Allowing Family to Control your Financial Destiny?
      • Get Rich (quick)
      • Feeling of Success
    • April 2014 >
      • When is the Right Time?
      • 9 Pieces of Inspiration
      • Habits of Financially Successful People
    • March 2014 >
      • Entrepreneur Secrets and Personal Finance
      • Marriage Money Fights
    • October 2013 >
      • Are you a good Personal Finance Role Model for your kids?
    • July 2013 >
      • Low Interest Rates And Paying Off Your Mortgage
      • Financially Dumb?
  • Entrepreneur
    • Productivity Tools
    • Money Saving Tips
  • Financial Calculators
  • Resources
    • Real Estate FAQs >
      • Lease Option Questions
      • Investing Questions
      • Fixer Uppers
    • Professional Resources
    • Handy Links - Ontario
    • Investment Websites
    • HST
    • Books
    • Tools
  • Investment Opportunities
  • Master This One Financial Skill Only
  • Next Meeting