Temptation to make bad financial decisions is all around us.
The Internet, radio, television, newspapers, even our friends and families can have a negative influence on our purchasing decisions. So how does one who is deeply in debt and wants to be free from their debt deal with all these temptations?
Dream of a life without debt, and then put it on paper to remind yourself daily why you're temporarily sacrificing in the short term to gain in the long term.
In this blog we'll discuss how to create your debt-free dream and put it into action to help you win with your money.
What's in a dream?
A dream is a positive vision of what could become reality if you focus and take control of your life and money. We recommend thinking about what your life might look like if you were watching it play out on the big screen.
What would be happening in your life if your debt-free dream came to life? There are a number of areas of your life that might change, and spending time thinking about how having no debt might impact each area is a simple and effective way of creating your dream.
The infographic below offers a few suggestions for areas of your life to consider as you develop your dream.
How would having no debt impact your spiritual life?
How would having no debt impact your relationships?
How would having no debt impact your ability to give and help others?
How would having no debt impact your physical health?
How would having no debt impact your finances?
How would having no debt impact your career?
How would having no debt impact your intellectual growth?
How would having no debt impact your children?
One final question to consider is where you might be living if you had no debt?
Each of these questions are designed to help you script your debt-free life. To develop your dream start by answering the questions that matter most to you. Write out your answers. Do this with your spouse if you're married because while some aspects of your dream can be different from their dream (i.e. career), some need to be on the same page (i.e. where you are living).
Sharing your dream.
One of the great things about having a dream is sharing it with others. This does a number of things that starts with making sure your dream is compatible with your spouse's dream, if you're married. You can't be dreaming of living in downtown Manhattan when his dream is to live out in the country.
Another benefit of sharing your dream with others is that it makes it easier for them to hold you accountable to act in accordance with your dream. We all need help making good money decisions, and when others know where you want to go they'll help you recognize when you're about to get off track.
Tell those you share your dream with you give them permission to call you out when your words and actions are out of sync with the dream you've shared with them.
Using your dream.
The final aspect, and perhaps the most impactful, of having a dream is that it helps block out the temptations you will encounter in life that will take you in the wrong direction toward accomplishing your dream.
The first suggestion to fight off temptation is to avoid those places you may be tempted to spend money you shouldn't be spending. If your problem is buying clothes avoid going to malls where you'll be surrounded by lots of temptations to buy.
If Apple products are your thing stay clear of the Apple Store. Keep in mind we're not saying you can never buy nice things again. What we are saying-what you are essentially saying with your dream-is that your dream is more important than those nice things in the short term.
Remember, this is only a temporary change that will lead to something far greater in the future. The question you have to face is whether you want the short term fix or if your dream is more important to you. It's all a matter of tradeoffs that you have to decide.
When you're faced with temptation pull out your dream; think about it before you make a decision that is contrary to your dream, and it's more likely you will do the right thing.
We all struggle with temptation.
If we didn't no one would ever be in debt. We'd all save up and pay cash for everything. Some day you might get there and do this with every purchase, but in the meantime you're bound to be tempted. How you deal with that temptation could determine your future.
You decide. How bad do you want it?