The first thing you have to realize is that having debt is not bad; it’s having too much debt that’s really stressful. First of all, let me say off the bat, that expression “robbing Peter to pay Paul” is the worst thing you could do. All that means is that you’re using credit to pay your loans, thereby increasing, not decreasing your debt. A 3000 loan that you pay with your credit card is what I mean. This will look like having bad credit overall to banks. One book I would recommend as a general guide on money is; “Multiple Streams of Income” by Robert Allen. He explains that there are 7 essential money skills, they are; value money, control it, save it, invest it, make it, shield it, and finally share it. Now in order to realistically pay off what seems insurmountable, you must have a realistic action plan in place to attack the problem (I emphasize on “realistic”). First, be aware of how much you owe; don’t complain or worry about this as you’re just wasting energy doing that rather put your anger or anxiety to work to empower you to action. Next, decide on how long you want it to take you to pay it off entirely. Lastly provide the income to make it happen. Now I know many people have problems with producing income, be it layoffs, or unemployment, just remember as long as you’re alive, you have all the power you need to make as much money as you want. All you have to do is make a decision, believe in yourself, and take action.
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