{"id":1664,"date":"2014-08-06T00:15:41","date_gmt":"2014-08-06T08:15:41","guid":{"rendered":"http:\/\/www.cultofmoney.com\/?p=1664"},"modified":"2014-08-05T09:57:00","modified_gmt":"2014-08-05T17:57:00","slug":"5-things-you-should-stop-doing-to-get-out-of-debt","status":"publish","type":"post","link":"https:\/\/www.cultofmoney.com\/5-things-you-should-stop-doing-to-get-out-of-debt\/","title":{"rendered":"5 Things You Should Stop Doing to Get Out of Debt"},"content":{"rendered":"
<\/a>Last week, we talked about what a debt addiction is<\/a> and briefly looked into how you can break free. This week, let\u2019s take a slightly different path and look at the things you should STOP doing if you want to get out of debt.<\/p>\n Because after all, it\u2019s more important to address the root of the problem than it is to add a million new things to your to-do list.<\/p>\n Let\u2019s dive deep.<\/p>\n I know what you\u2019re thinking. I\u2019m being way too obvious here.<\/em> Of course someone who is addicted to debt should stop buying so much stuff. Duh.<\/em><\/p>\n But the thing is we all take actions that we know we aren\u2019t supposed to take.<\/p>\n For me, this comes with eating healthy. I know I shouldn\u2019t eat take out five times a week but it took me a year of trying to completely break this habit.<\/p>\n We all have our problems and as clich\u00e9 as it sounds, acknowledging the problem is the first step. Once you do that the rest is up to you.<\/p>\n Are you \u201cunmanaging\u201d your money (letting your money manage you)?<\/p>\n This could be a huge part of your problem. You see, when you start to track your finances and tell your money where to go something magical happens: you start to care.<\/p>\n By taking a good look at how you\u2019re spending your money you\u2019ll instantly be able to identify the unnecessary spending you can cut out. On top of that looking at your financial situation will help motivate you to stay on track.<\/p>\n Here are some budgeting posts to help motivate you:<\/p>\n Paying your bills late is a silly way to 1) ruin your credit score and 2) add to your debt pile. Sure, there are times when you might be running a little low and paying a bill late is inevitable. But if this is a regular occurrence then you have a problem that needs to be addressed.<\/p>\n Start managing your money so that you can stay on top of your bills.<\/p>\n It\u2019s time to declare your abstinence.<\/p>\n Debt is crushing you and you need to break free. Go ahead, cut up ALL of your credit cards, stop using lines of credit, don\u2019t buy anything that requires monthly payments, and avoid all other types of consumer credit you can think of.<\/p>\n Period. Do this one thing now or keep making excuses as to why that\u2019s not a good idea. The choice is yours.<\/strong><\/p>\n We live in a fast paced world.<\/p>\n When it comes to money we no longer have to wait. You can get instantly approved for new credit cards online, you can pay for and immediately down an eBook, you can order from Amazon and have new merchandise shipped to your front door in two days. You don\u2019t even need to leave the house to blow through money.<\/p>\n That\u2019s a problem.<\/p>\n# 1 \u2013 Buying so Much Stuff<\/h2>\n
# 2- Mindlessly UnManaging Your Money<\/h2>\n
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# 3 \u2013 Paying Your Bills Late<\/h2>\n
# 4 \u2013 Using Debt as a Form of Payment<\/h2>\n
# 5 \u2013 Looking for Instant Gratification<\/h2>\n