How to Change Your Mindset and Prioritize Debt ReliefJan 17, 2019
“New year, new me” is a tongue-in-cheek way of turning over the calendar, mostly because people have a hard time sticking to New Year’s resolutions. When it comes to finding relief from your debt, though, what resolutions can you make that you’re actually able to stick to?
Changing how you think about something is a great way to do this. This is especially true when it comes to finances. When you’re stuck in the weeds of paying off debt, saving money, living frugally and paying off bills can feel like a grind sometimes.
Finding the motivation that will help you pay off your personal debt should be a goal as you start 2019. To help, here are five of our blogs on how to change your mindset about debt relief.
While albeit a Thanksgiving theme, this blog has plenty of lessons for January. The fear of missing out has an effect on how we spend money. Trying to match your friend’s Instagram lifestyle, staying on expensive clothing or food trends…FOMO can really affect your bottom line. Here, you can find some advice on how to avoid FOMO and why financial planning is so important.
As it’s gotten easier to pay with a credit card — whether through tap or online purchases — it’s gotten equally easier to overspend on credit. This blog explains how credit card use has gone up, and what a credit-free 30 days can do to change your mind about debt.
We all have misconceptions and misgivings about debt. Self-doubt can creep in when it comes to living more frugally and it can have a negative impact on our financial and mental health. This blog explores common feelings of those paying off debt, such as “I feel alone when it comes to dealing with debt” and why these aren’t as true as you may think.
If you have a significant other, communication is key in getting debt help. A poll from earlier in 2018 revealed some startling results about the lack of communication among Canadian couples when it comes to debt and money. This blog focuses on the importance of open honest conversations, and how changing your mind about debt can start at home, or by visiting an expert.
Speaking of experts, in this blog you get to hear from those that understand debt the best. Five Licensed Insolvency Trustees (LITs) offer their advice on how to better understand debt in the new year, and what changes you can make that will work long-term. You can also go deeper with the attached podcast.
How will you adjust your thinking this new year? By trying a new tactic or just having a conversation, you can make debt relief feel fresh and avoid the sometimes inevitable monotony. It’s a great way to start off 2019 on the right foot.
Have other tips on changing your mindset this year? Join the conversation on social media, using the hashtags #LeaveDebtBehind, #NewYearMotivation, and #StudentDebt.