WHY IS DEBT SO EASY? (and saving so hard?)

About Deirdre

Deirdre Sentis is a wife and homeschooling mother of five who has struggled in the trenches with debt and despair and wants to help others along the journey into hope and financial freedom.

March 7, 2020

We are Programmed to Borrow

The foundation of our society is debt, which  leads to a culture based on consumerism. Our banks create money when we borrow and all businesses are dependent on consumers buying their stuff.

Ads are everywhere. We are programmed to spend, to feel good when we buy something new, and to think that things will satisfy an empty place inside. Because nobody makes money when you save, they are all competing for our money and creating enticing offers so we will spend.

Debt is our default setting and Consumer is our name.

Debt has been Normalized

Did you know that the average person who declares bankruptcy has a shortfall of $200 a month? Did you know most Canadians are only one paycheck away from financial insolvency? This is a precarious place to be. It is also extremely stressful, damaging our health and relationships.

We must recognize the real cost of debt in our lives.

We feel fear, anxiety and dread about:

  • not having enough
  • something going wrong
  • opening bills and credit card statements
  • celebrations requiring giving gifts
  • our kids asking for something extra
  • something breaking (dishwasher, vehicle, furnace)

We must identify our spending habits and evaluate:

  • Where does our money go?
  • Where do we want it to go instead?

It takes a decision and intentional daily effort.

A large ship makes a course correction of only a few degrees. Initially, there change is almost imperceptible, but the destination is altered. Deciding to pursue financial freedom from debt will lead us to a different destination. Chart your course, set smaller goals along the way, and celebrate your progress. You can change your financial future for yourself and your family.

Drastic lifestyle changes are possible when we have a clear goal. I am working towards having a $1000 emergency fund. This is tangible. Right now it is out of reach but each time I put $10 towards this, I feel successful, knowing I am working against debt and making progress.

Changing our thinking, our beliefs, and our goals is required.We must learn new ways and habits: celebrate saving, believe we can become debt free, and imagining a debt free life. Can you imagine how it will feel when you have no debt payments and no mortgage? What would you do with that extra cash? How much would you have in one year?

For creative ways to reduce spending, click here.

We need like minded people to hold us accountable who will praise and encourage us in saving and not celebrate debt spending. They will ask the hard questions: Did you pay cash or use credit? How are you doing with saving?

Freedom is hard. It is a struggle, a war, against our very selves: our wants, our cravings, our desires for immediate satisfaction.

No one becomes debt free by accident. And that is why so few are free.

Join me on this journey. Let’s work together to create a new culture that celebrates living within our means, eliminating our debt, and looking toward the future with hope.

To kick start your journey out of debt, invest in a course that will teach, challenge, and inspire you and connect you to a community of like minded people, journeying together. Click here for War on Debt

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WHAT IS A CONSUMER PROPOSAL?

A consumer proposal is a less severe tool than bankruptcy to help people overwhelmed by debt get back on their feet again. It can decrease the debt owed significantly.

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