How high will you go? The debt ceiling.
“$100,000.00.” he said.
“What? Really?”
“Yes.”
My entrepreneur (I’m convinced he’ll be a millionaire someday) friend continued,
“When I was a kid, we only worried about debt when it exceeded $100,000.00.
I was taught that everything up to that number was considered
manageable.”
(????!!!!!)
Now, it’s no secret at this point that I have a fascination with money (insert: obsessive iss-ü) so, it tends to come up with friends, (especially those who know how to really pull in the dough). I’m fascinated when I hear that a calculated money maker has been raised with the nonchalant belief that there is actually a reasonable dollar amount of debt to have - like it’s something that you’re supposed to pursue.
Ironically when people say they have debt, it sounds possessive: I have debt, therefore I HAVE SOMETHING. Even if that SOMETHING isn’t good, it’s still aaaallllllll yours. It’s kind of like staying in a bad relationship: at least you don’t have to say that you’re single. But when we’re talking about debt, is it really better to HAVE and to HOLD for ever after?
I’m currently following a blogger who has payed off $11,000.00 of her $34,000.00 of debt, while managing to SAVE $18,000.00 all within 6 months! If we break that down into round numbers, she has been putting away (or paying off) around $4800.00 a month. WHAT? AMAZING!! Many bravos to her! This blogger’s honesty and persistence makes for a great role model.
- Are her saving margins a realistic goal for you?
- Does her story inspire you to create your own debt/saving plan?
As we approach summer (traditionally, a quieter season for lucrative gigs)
how will YOU create a plan to continue to SAVE, or PAY OFF debt?
If we look back at my soon to be millionaire friend, who grew up with a huge debt ceiling of $100,000.00, we might find one of the keys to eliminating debt. He no longer focusses on what he was taught: that debt was ok, or manageable. Nor does he (like our blogger girl) accept the limitations of a ceiling.The sky is the limit for both of our entrepreneurs not because they make MORE money, but because they seem to have changed their attitude towards it altogether. Will it be the same for you?
Recognize how high you really project the limits of your debt ceiling.
(BE HONEST! ACTIONS speak louder than WORDS)
It just might be the start of eliminating it all together.
Happy Summer Saving and Thank you for Reading!
p.s. if you’re debt free, please let us know your keys to debt free success.
click just below to leave a comment.
