Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (2024)

A Mess Free Life may collect a share of sales or other compensation from the links on this page.

Last week I wrote a post called Why Understanding Your Money Story Is The Key To Financial Freedom.

This week I wanted to elaborate on some strategies that combined with the others I wrote about can have you seeing, feeling and acting differently about money.

Why is that important?

Because if you see your financial situation as a negative instead of a learning experience, it will be that much harder to achieve your get out of debt goals.

So sit back and grab a cup of coffee, a pen, and piece of paper and let’s get started rewriting your story.

Table of Contents

Rewrite Your Money Story and Get Out of Debt With These 7 Strategies

Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (1)

Heal The Legacy That Was Passed Down To You

Whether you like it or not, your childhood experiences determined how much money and success youfeel youare capable of as an adult.

Were you someone whose parents struggled with money and now youhave a scarcity mindset when money is involved? Or were you given an endless supply of the things you wanted, including money?

Whatever your situation was, you were learning from it the moment you were born. Our parents, relatives, and friends were your most consistent teacher.

Subconsciously, youtook on their actions and created your own money story.

Luckily, you’re not yourinherited habits. You’re afree-thinking human being, and youcan take charge of your actions. Youare the decider of your fate; if you want a life a filled with abundance, youcan take meaningful steps towards that daily.

Related: How Your Beliefs About Money Can Keep You Stuck {And What To Do About It}

Uncover and Release your Out-dated Money Beliefs

Your beliefs are the core of who you are. Whatever you believe in your mind is what’s forming the results in your life.

That is why you keep getting the same results in your life over and over again. You will attract events, circ*mstances, experiences, and people into your life that are in alignment with your beliefs.

If you’re not experiencing financial abundance and prosperity, if you’re struggling with debt and don’t feel your paid your worth, then I invite you to examine the beliefs you hold about money and wealth. Are you willing to give up old, worn out ideas that do NOT serve you in order to live an abundant, prosperous life?

If you’re willing to give up old, worn out beliefs that do not serve you in order to get out of debt and experience financial freedom, you’ll find as you work diligently to rewrite your story and discard what no longer works that you’re moving closer and closer to your desired money story.

Related: What A Wolf Can Teach You About Money

Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (2)

Start To Create A New Story

The stories you tell yourself about money will keep you stuck. It’s time to stop telling them and create a new story. If you’re struggling to get out of debt, you can now look at debt as an important lesson learned about money. You can see yourself, not as someone with debt, but someone who is successfully paying it off.

Can you feel the difference? Remember your old story is just a story and you can change it.

Look at Money Differently

Because you probably struggle with the notion of what it would be like to have a substantial amount of money, one of the ways you can affect your thinking is to see money as a tool to help not only yourself but others.

Start looking at how you can be of service to others when you have money in the bank. If you had two million dollars in the bank, how would your life be different? Which charities could you support? What could you do to help your family and friends?

Related: Top Personal Finance Experts Reveal Their #1 Stay Out of Debt Advice

Surround Yourself With Positive People

You become like the top 5 people you associate with the most. Let go of people who complain about how miserable their lives are. Instead, surround yourself with individuals who feel positive about money or who are also diligently working on making their financial situation better.

Create a money goal and then develop the success strategy needed to reach that goal. In this way, your vision and your strategy influence your action steps—and it’s your direct action steps towards your financial realitywhich determines what you will achieve.

It’s not too late to set some money goals for yourself for 2016, so if you haven’t already, why not make a promise to yourself that this time next year you’ll be in better shape financially than you are now?

Write down your goals for the next 12 months. Make your goals clear, measurable, and time-specific so you can track your success.

Tape the list to your mirror, on your refrigerator, or on your bedroom wall, where you can read them and focus on them every day. We really do attract the things on which we focus, so keep your focus on what you want in your life!

Related: Why You Should Learn To Love Your Money This Valentine’s Day

Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (3)

Think Differently

“Thoughts become things”. Your mindset does create your reality. It controls and influences your actions, choices, and behaviors—all of which are important when pursuing and achieving any goal. This is why if you want to experience greater levels of financial independenceyou need to think differently—especially as your current thinking has created your current life experience.

Ask yourself: “What would I have to think about myself and Who Do I Have to BE to earn my desired income and live debt free?”

Read: The 30 Day Love Your Money Mindset Challenge

Be able to Receive

Toss aside all the old notions you might have about being undeserving of money and undeserving of being debt free.

Open up to the likelihood that if you start to rewrite your money story, you can achieve exactly what you want: alife free of debt, with some money in the bank, earning the salary you desire.

It can happen.
Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (4)

Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (5)

Rate this post

Rewrite Your Money Story And Get Out Of Debt With These 7 Strategies (2024)

FAQs

What is step 7 of the financial order of operations? ›

After saving the maximum allowed to tax-advantaged retirement accounts, hyper-accumulating into a brokerage account is Step 7 in the Financial Order of Operations.

What is an example of a strategy for dealing with debt? ›

Debt snowball: With this strategy for getting out of debt, you focus on paying off your smallest balance first. Put all the extra money you can dedicate to debt payoff toward that account while continuing to pay the minimums on the others.

How do I manage my money and get out of debt? ›

To get out of debt, start by creating a list of everything you owe. Then, look for ways to adjust your budget in order to free up funds to put toward your debts. Consider additional resources, such as credit counseling or debt consolidation.

What is the step 7 of the accounting cycle? ›

Step 7: Financial Statements

After the company makes all adjusting entries, it then generates its financial statements in the seventh step. For most companies, these statements will include an income statement, balance sheet, and cash flow statement.

What is the order of operations notes 7th grade? ›

The order is PEMDAS: Parentheses, Exponents, Multiplication, and Division (from left to right), Addition and Subtraction (from left to right).

How do you get out of debt strategy? ›

List your debts from highest interest rate to lowest interest rate. Make minimum payments on each debt, except the one with the highest interest rate. Use all extra money to pay off the debt with the highest interest rate. Repeat process after paying off each debt with the highest interest rate.

Which debt strategy is best? ›

Some of the most popular strategies include the following:
  • Prioritizing debt by interest rate. This repayment strategy, sometimes called the avalanche method, prioritizes your debts from the highest interest rate to the lowest. ...
  • Prioritizing debt by balance size. ...
  • Consolidating debt into one payment.

What are 5 ways to manage debt? ›

Be Done with Debt! 5 Ways to Do It
  • Make More than the Minimum Payment. For every outstanding balance, you must typically make a minimum payment of 2% to 3% of your total. ...
  • Tackle High-Rate Accounts First. ...
  • Shop for Better Rates. ...
  • Read the Fine Print on a Balance Transfer Card. ...
  • Negotiate.

How to save money and pay off debt? ›

How to balance your finances while paying off debt
  1. Create a monthly budget. A monthly budget can help you accommodate your debt payments alongside your day-to-day spending. ...
  2. Make debt payments beyond the minimum. ...
  3. Establish an emergency savings fund. ...
  4. Keep an eye on your credit reports and scores.

How to solve debt problems? ›

On this page
  1. Work out a budget and deal with priority debts.
  2. Consolidate or refinance loans.
  3. Get help with late-paying customers.
  4. Gain better control over your cashflow.
  5. Reduce unnecessary spending.
  6. Boost your revenue.
  7. Engage your staff and seek their input.
  8. Consider your emotional wellbeing when tackling debt.

How to get out of debt for dummies? ›

Tips for managing your debt repayment plan
  1. Check your budget/spending plan to know the amount you can pay toward each debt. ...
  2. Make a list of debts you want to negotiate. ...
  3. Know your rights. ...
  4. Call your creditor or collector. ...
  5. Make sure you get any concessions or settlement agreements in writing. ...
  6. Stick to the repayment plan.
Apr 12, 2024

What are the steps of the financial cycle in the correct order? ›

What Are the 8 Steps of the Accounting Cycle?
  1. Identify and analyze transactions.
  2. Record transactions in a journal.
  3. Post transactions to a general ledger.
  4. Determine the unadjusted trial balance.
  5. Analyze the worksheet.
  6. Adjust journal entries and fix any errors.
  7. Create financial statements.
  8. Close the books.
Oct 27, 2022

What is the order of operations steps? ›

The order of operations is the order you use to work out math expressions: parentheses, exponents, multiplication, division, addition, subtraction. All expressions should be simplified in this order.

What are the 8 steps of financial planning? ›

8 Keys to Good Financial Plans
  • Setting financial goals. ...
  • Net worth statement. ...
  • Budget and cash flow planning. ...
  • Debt management plan. ...
  • Retirement plan. ...
  • Emergency funds. ...
  • Insurance coverage. ...
  • Estate plan.

Top Articles
How to Make Money on the Road
Ordinary Dividends: Meaning, Overview, Examples
Data reveals most expensive dog breeds in U.S. for 2024 
Pikes Suwanee
Fbsm St Louis
World War II: Summary, Combatants & Facts | HISTORY
Christine Paduch Howell Nj
Pjstar Obits Legacy
Cadenheads Girvan 33yo & Cadenheads Ardmore 11yo
Indianapolis Star Obituary
Craigslist Pet Phoenix
Argus911
Welcome To Aces Charting
Ilcc Number Lookup
Die eID-Karte für Bürgerinnen und Bürger der EU und des EWR
Michelle_Barbelle
Snohomish Hairmasters
Oviedo Anonib
Southern Food Buffet Near Me
Netherlands Toys, Games & Hobbies | ExpatINFO Holland
Eos Fitness Irvine
Battle for Azeroth Preview: Drustvar Visitor’s Guide - WoW
Sevierville, Tennessee: Idyllisches Reiseziel in den Great Smoky Mountains
Will Certifier Crossword Clue
Pge Outage Map Beaverton
Reahub 1 Twitter
Berklee College Of Music Academic Calendar
Forza Horizon 5: 8 Best Cars For Rally Racing
Dynasty League Forum
Volkswagen For Sale Craigslist
Panty Note 33
Brake Masters 228
Craigslist Pets Seattle Tacoma Washington
Mathsspot.com Unblocked Roblox Online Unblocked
Craigslist Ct Apartments For Rent
Rinehart Sons Funeral Home
Restaurants Near 275 Tremont St Boston
R/Sandiego
Shop e.chi, Energie Welle, Energie Sohle, E-Smog Kissen, Hologramm
Sparkle Nails Phillipsburg
Lily Starfire White Christmas
Tj Nails Victoria Tx
Sarah Colman-Livengood Park Raytown Photos
Huntington Bank Review 2024 | Bankrate
Sierra At Tahoe Season Pass Costco
Norwegian Luna | Cruise Ship
Gun Show Deridder La
24 Hour Arrest List Knox County
Nuefliks.com
Vinoteca East Rutherford Menu
What Is Opm1 Treas 310 Deposit
Latest Posts
Article information

Author: Virgilio Hermann JD

Last Updated:

Views: 6387

Rating: 4 / 5 (61 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Virgilio Hermann JD

Birthday: 1997-12-21

Address: 6946 Schoen Cove, Sipesshire, MO 55944

Phone: +3763365785260

Job: Accounting Engineer

Hobby: Web surfing, Rafting, Dowsing, Stand-up comedy, Ghost hunting, Swimming, Amateur radio

Introduction: My name is Virgilio Hermann JD, I am a fine, gifted, beautiful, encouraging, kind, talented, zealous person who loves writing and wants to share my knowledge and understanding with you.