Recovering from debt and generating wealth is possible for any of us if you know the mindset and action steps that are required — and the mistakes to avoid
If you currently find yourself in debt, or if you have ever been there, you know how frustrating it can be. To desire something more, to desire financial freedom, and to not quite know what steps to take to move you forward, can leave you with a sense of helplessness.
A few years ago, that’s exactly where I was. I was in debt, to be frank it was $187,0000 worth of debt, with very little to show for it. I was not sure where to begin to change it. Today, I own properties across the world including part of a castle in Italy, land in Costa Rica, Australia, and am also the business development manager training organization Access ConsciousnessTM operating in 173 countries, all the while mentoring other leaders around the world to create and look past what is tangible.
I did not go from debt-ashes to financial freedom all at once. I got there one choice at a time, and you can too.
The first step is to recognize two common money mistakes that people make when moving towards being debt-free.
Mistake #1: Curbing expenditures as the primary source of getting out of debt
For many of us, our first response in trying to change our debt situation is to look at where we can cut back on spending. Makes sense, right? The logical solution to changing debt is to spend less. As logical as it seems, there is an adverse effect that this often creates. Creating more money requires creativity and when your sole focus is cutting back on spending money, you are cutting back on the creativity that would allow you to access new ideas and possibilities that will generate wealth.
Mistake #2: Buying the idea that joy follows money
Have you ever thought that when your money situation improves, then you will be happy? The majority of people do. The common thought is this: “I need to get serious about my money situation. I need to fix this problem. Once this problem is solved and I have money, then I will be happy.” As smart as this sounds, it doesn’t work. Joy needs to come first. It is always going to be hard to make money while you are being serious and doing things you don’t like. Choose joy NOW. Money will follow.
In addition to not buying into these money-making mistakes, here are my top tips on how to rise from the ashes of debt and generate wealth.
6 Tips to Rise from Debt and Generate Wealth:
1. Acknowledge your capacities and how great you can be
It is important to understand that you don’t have to know everything now. Start where you are. Ask questions. Always ask questions. You have the ability to learn and grow more every single day. Keep your sense of curiosity and wonder and you will get there.
2. Give yourself permission to know what you want
Have you ever asked yourself what it is that YOU desire? Truly asked? Most of us create our lives based on what others decide is valuable. The issue with this is that you are nowhere in the computation. If you would like to get out of debt and stay there, you have to be honest with yourself as to what you desire to have as your life.
3. Be audacious in what you ask for
Have you ever been told that you should be grateful for what you have? Has anyone ever insinuated that if you ask for more you are being selfish? What if that is not true? Intelligent people always ask for more because intelligent people know that more is always possible. Rather than not asking for more, rather than asking small and non-threating, make your demands bigger, and don’t dilute your desire just because someone says ‘no’ or concludes that you are being selfish. Choosing more creates greater for the entire planet.
4. Ask questions
All of our lives we are taught to look for answers. It’s actually questions that create change. When you ask questions, you open the door to new possibilities. Ask, “What else is possible?” all the time! No matter what is going on. Ask for new possibilities. Ask what else is possible that you have not considered. Ask and watch what shows up.
5. Take action
To get the things you want in life, you have to be willing to take action. Create is an action word. For things to show up, doing is required. What if you woke up every morning and asked, “What revenue streams can I create?” And, “What action is required to create them today?”
When you ask questions such as “What action is required?” you will have a sense of something. Something will pop. An idea. A person to talk to. Whatever that is, do THAT.
6. Be patient and enjoy the moment
Don’t make everything a life or death situation. Even though debt is not where you desire to be, if you make money a problem and put all of your energy into fixing your debt, you will miss out on the gifts that are available to you in every moment. Don’t ignore your debt. And, don’t make it the focus of everything. Enjoy the ride and take time to ‘taste life’ as you daily move towards creating the financial reality you desire.
Changing your financial reality is possible. The key is to keep creating while you take steps to remove your debt. When you acknowledge you, clarify what you desire, ask for more, give up looking for the answer in favor of asking questions, take action and find joy in the process, you will create a greater reality. Your choice is the key as it is your choice that creates.
You are the source for changing anything in your life you would like to change include getting out of debt. Time for you to know it.
You may also enjoy reading True Abundance: One Man’s Search for (Mindful Money) Meaning by Jim Brown