In this episode of the Mind Money Soul podcast, I'm going to be answering a question I recently received on The Money Hotline - "why do I keep digging in and out of debt?"
I delve into the crucial steps needed to break free from the cycle of debt. The first step is identifying the root cause of your debt. There are many common culprits including the overpayment of debt, behavioural patterns such as overspending, a lack of discipline or having a scarcity mindset. Knowledge is power and without uncovering this data you can't make a plan to clear your debt.
I also share how to set yourself up for success by creating a fail-safe debt management plan, implementing practical strategies and allowing space for self reflection to affirm your financial capability and abundant mindset. It might be a slow process, but quitting is not an option. Perseverance is key and embracing these steps towards financial freedom is worth every step - there is only positivity on the other side of this journey. Clearing your debt is not only going to increase your net worth, but it will get you one step closer to financial independence and security.
In this episode:
🎙️ Your host: Laura Ann Moore
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