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To get rid of your debt, you must start from the beginning. I can’t tell you how many women I’ve worked with either underestimate or overestimate how much debt they have.
In the case of underestimating, they walk around with a false sense of financial security which leads them to make financial decisions that do not benefit them in the long run because they think they are more fluid than they really are.
On the flip side, I’ve worked with women that have overestimated the amount of their debt. In these cases, they harass themselves with unnecessary feelings of shame and regret around their finances when a quick stat check would have provided them with an accurate starting point for their debt elimination plan of action.To get rid of your debt, you must start from the beginning Click To Tweet
So today’s lifework:
- Please jot down all of your credit card debt to the penny. Please include debt accumulated on all of your credit cards and store cards. (Open the bills, check online, or call your lender to ensure that the numbers are accurate).
- Please write down the interest rates attached to each of the cards.
- Calculate the total amount of outstanding credit card debt you have.
You can jot this down in your journal, below in the spaces that I provide you, or go to The Happy Finances Community and download your Get Your Credit Card Debt or CCD Stats worksheet.
Today, just take a look at where you stand with your debt.
Write down all of your debt below.
|Name of Credit Card/Store Card||Outstanding Balance||Interest Rates|
What have you noticed about your total amount of debt? Have your overestimated or underestimated the amount? How are you feeling?
That’s it for today’s lifework!
Also, leave a comment below with your “aha” moment or reach out to your accountability partner(s) for questions and insights.
Finally, hit me up and share your insights. I’m cheering you on.
The Happy Finances Challenge is 42 days of transforming how you “do” money and life. Get a copy of The Happy Finances Challenge book here today!
The Mama Bear Principle: Mama Bears are protective of their cubs and their crew. And that’s exactly how I feel about our community. Throughout the Happy Finances Challenge, I may recommend some products and service and receive some form of compensation. However, I would NEVER suggest them unless I truly believed they were useful or helpful.