One of the most common questions I’m asked when people discover that I’m debt free is, how did you do it.
Although I’m always excited to see people taking an interest in getting their finances in order, it’s a question that I’m careful about answering mainly for two reasons.
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There is no simple way to explain how I did it.
Getting out of debt is not one of those things that you can look at from the front end and see exactly how it’s going to happen. It’s a touch and go experience. You commit, start moving and different opportunities open up as you move forward. You inch your way forward on victory at a time and eventually you claim the prize.
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Many times, I get the impression that the person is seeking an all you have to do is type of response.
Many times, I get the sense that the person’s interest in getting out of debt is contingent on them finding an easy solution. Easy and getting out of debt probably shouldn’t ever be used in the same sentence. In these cases, I do my best to paint a realistic picture possible without sounding discouraging.Anyone can pay off all of their debt but if you believe there is some secret potion out there that no one ever told you about, think again.
For the two reasons I just mentioned and a few others that would take too long to explain, I typically offer people a high-level overview of what I did to become debt free. I explain that I worked long hours and reduced my expenses drastically. Occasionally, people want to know what kind of work I did. I usually offer vague responses to that question as well. Not because it’s secret but because I understand that opportunities come in many shapes and sizes. There are many routes a person might take to get ahead. It could be done through a career change that includes a significant pay raise. It could be taking a second job. It could be an independent contracting opportunity. It could be an entrepreneurial venture.
I intentionally avoid too many details about what I did because I don’t want anyone to make the mistake of thinking that they need to do whatever I did. Those opportunities may even not be available anymore or just may not be right for them. Instead, I put most of the emphasis on mindset because that’s what matters most. If you’re hungry enough, nobody will have to tell what you what to do, you will find things that work for you. I didn’t have the luxury of someone telling me how to do get out of debt, or where to look for opportunities to make extra money. I found ways to make it happen and if you’re truly hungry, you will find ways as well.
What does it mean to be hungry?
In case you’re wondering whether you’re hungry enough, I have listed out three of the most important characteristics. Check to see how many of these relate to you.
#1 Having a clear motivation
If I had to choose just one key for successfully getting out of debt, I would choose motivation. Hungry people know what they want and why they want it, and nothing is more motivating than a clear why. If you know exactly why you want to get out of debt and that reason is compelling enough, it will drive you to get it done. Are there things that you really desire in your life that are currently out of the question because of your financial situation? These kinds of things are the source of hunger. Don’t shrink back because you see how it can happen. Use those things as motivation to get where you want to be.
#2 Being tired of the way things are right now
Most people have to experience of certain level of discomfort or adversity before they’re willing to change. They have to be fed up before they take a significant action. Hungry people are tired of things being the way they are. Are you sick of the way your financial situation is right now? Are you sick of living paycheck to paycheck and just getting by? Are you sick of putting in 40 hours per week and still not having any money? Hungry people make up their minds that they’ve had enough and they’re going to change the situation.
#3 Willing to do what it takes
Almost everyone would be living life the way they want if it were easy. The hungry person has decided that they’re done with the status quo and isn’t deterred by how difficult the changes will be. They are only committed to doing whatever it takes. Have you reached a point where you’re willing to do whatever it takes or are you still on the fence hoping for an easier way? Anyone can get excited when they hear a motivational speech or read an inspiring story but this doesn’t always lead to action. The hungry person has progressed to action. They’re willing to stay up late grinding, get back up early the next day and grind some more. They’re willing to chip away, piece by piece, until they see what they want to see.
Conclusion
It takes a strong desire to obtain financial freedom. It takes a deep hunger to commit to something that you know will be quite difficult. It takes a deep hunger to maintain focus, make the necessary sacrifices and do the hard work. Can you relate to any of three characteristics I just shared? If so, I think you might be hungry enough to take your finances and your life to the next level. Let’s do this!