{"id":664,"date":"2011-05-23T07:00:44","date_gmt":"2011-05-23T12:00:44","guid":{"rendered":"http:\/\/www.patheos.com\/blogs\/faithandfinance\/?p=664"},"modified":"2011-05-23T07:00:44","modified_gmt":"2011-05-23T12:00:44","slug":"debt-is-not-the-problem","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/23\/debt-is-not-the-problem\/","title":{"rendered":"Debt Is Not The Problem"},"content":{"rendered":"\n<\/head>

I revisited Dave Ramesy\u2019s book Total Money Makeover<\/em><\/a> recently, <\/em>and came across a quote that really caught my attention.\u00a0 Dave quoted Larry Burkett of Crown Financial Ministries saying \u201cDebt is not the problem, it\u2019s the symptom.\u201d<\/p>\n

It really is true!\u00a0 Debt happens when we give in to buying more than our income can provide \u2013 it\u2019s that simple.\u00a0 Debt consolidation and extension programs mask the symptom; those things don\u2019t solve the true reason why we get in debt the first place!<\/p>\n

So What IS The Problem?<\/strong><\/h2>\n

<\/strong><\/p>\n

The debt calculation is simple: you\u2019ve spent more than you\u2019ve saved.\u00a0 Knowing why is the start of how you can free yourself from debt<\/a>.\u00a0 The reasons we go into debt differ from person to person, but here are three problems I\u2019ve noticed that can lead to debt.<\/p>\n

\u2013 Lack of Contentment\n<\/h3>

\u2013 Impatience<\/p>\n

\u2013 Your Surroundings\n<\/p>

If we\u2019re honest with ourselves, I think we can look back on a time where we\u2019ve made a financial decision because of one of these three areas.\u00a0 It\u2019s difficult to fight the impulsive urge to upgrade to the better, faster, shinier item \u2013 especially when we\u2019re constantly being reminded about it in our surroundings!<\/p>\n

How To Solve The Problem <\/strong><\/h2>\n

Instead of focusing too much on these problems, I\u2019d rather look at solutions.\u00a0 Here are four ways we can solve the problem that leads to debt.<\/p>\n

<\/strong><\/p>\n

    \n
  1. Change our habits<\/strong> \u2013\u00a0 If you\u2019re honest with yourself, you\u2019ll probably find items that could be cut back or monitored more closely.\u00a0 That\u2019s why moving to an all cash budget can really make a difference if you\u2019re having trouble overspending money<\/a> in a budget category.\u00a0 That\u2019s just one example of how you can change a habit in the way you spend.\u00a0 You can also try putting it on paper.\u00a0 If you\u2019re serious about getting your spending under control, put your purchases down on paper.\u00a0 It\u2019ll force you to visually and physically acknowledge each dollar that is being spent.<\/li>\n

    <\/p>\n

  2. Practice Patience<\/strong> \u2013 Sometimes, convenience is the excuse we use to justify our spending.\u00a0 Think about it: eating out, lawn service, cleaning services \u2013 all of this is a matter of convenience.\u00a0 I\u2019m not saying that you shouldn\u2019t enjoy any of these luxuries, but taking extra time to cook or clean may be the extra you need to get out of debt faster.\u00a0 Like Dave Ramsey says \u2013 \u201cIf you live like no one else, you\u2019ll life like no one else.\u201d <\/strong><\/li>\n

    <\/p>\n

  3. Encourage self-discipline<\/strong> \u2013 I\u2019m a visual person, so if I want to keep up with a goal, I like to use a graph or chart that I can place a checkmark on to track my progress.\u00a0 It\u2019s encouraging to me and works in areas of money, physical exercise, and at work.\u00a0 Find a way to keep yourself motivated<\/a>.\u00a0 You might implement a similar system like I did, or you might use others to spur yourself to action.\u00a0 Tell your friends about the changes you\u2019re trying to make with your spending and ask for support.\u00a0 Whatever it is, you have to exercise self-discipline and focus on correcting the behavior that leads to debt.<\/li>\n

    <\/p>\n

  4. Create income opportunities <\/strong>\u2013 If you\u2019ve done all that you can to lower your expenses and you still have problems with building debt at the end of the month, you need to address your income<\/a>.\u00a0 Working nights and weekends may not be ideal, but it might be necessary for a time.\u00a0 If you\u2019re creative, you can find ways to use your passion to make money<\/a>.<\/li>\n<\/ol>\n

    I hope these suggestions help you in addressing the issue of debt in your life. If you have been motivated in other ways, share them in the comments!\u00a0 You never know who might benefit from using a strategy that worked for you!<\/strong><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

    I revisited Dave Ramesy\u2019s book Total Money Makeover recently, and came across a quote that really caught my attention.\u00a0 Dave quoted Larry Burkett of Crown Financial Ministries saying \u201cDebt is not the problem, it\u2019s the symptom.\u201d It really is true!\u00a0 Debt happens when we give in to buying more than our income can provide \u2013 […]<\/p>\n","protected":false},"author":2551,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-664","post","type-post","status-publish","format-standard","hentry","category-debt"],"yoast_head":"\nDebt Is Not The Problem<\/title>\n<meta name=\"description\" content=\"I revisited Dave Ramesy\u2019s book Total Money Makeover recently, and came across a quote that really caught my attention.\u00a0 Dave quoted Larry Burkett of Crown\" \/>\n<meta name=\"robots\" content=\"index, follow, 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