Is This Key Ingredient Missing From Your Debt Repayment Plan?

June 10, 2014

Connect Member

Teaching people to create financial, emotional and spiritual freedom. Best-selling author.

It was a simple, yet, profound shift in my thinking. I felt so energized by the realization that I suddenly felt like I could do anything. Soon after, I began to see financial awareness as an honor and a way I was privileged to be able to care for myself. My financial life began to change. And quickly.

I stopped using my credit cards. I started checking my bank account balance every day and consciously practicing gratitude for what I had in there (no matter how big or small the balance was on a particular day.) I started spending less, but not from a place of deprivation. Instead, I spent less and from a place of being super clear on what my values were and realizing that a lot of the things I’d previously spent money on weren’t actually that important to me.

Over the next year I doubled my income. Within about a year of that fated flight I had paid off all of my debt, drastically reduced my living expenses, unravelled my financial entanglements with my mom and was well on the way to having my first six-figure year in business.
Here’s the thing: How we think matters.

Thinking in terms of shame, blame, guilt and fear kept me stuck in debt. Switching to a path of love, compassion, gratitude and forgiveness got me out of it.

People ask me how I paid off all of my debt so quickly all the time. They’re looking for a simple three step plan or some sort of amazing credit loophole that they’ve been missing. But until we change our mindset, it doesn’t actually matter what we do. How many times have you tried to reduce your spending and/or increase your income only to find yourself binge-spending at Barney’s or chickening out when you go to raise your rates?

Until you align your mind with your desired outcome, you will sabotage your efforts to create that outcome every step of the way. My bank account, my credit card balances and my life are living proof.

If you want to heal your financial life, start with love. Stop beating yourself up. Start treating yourself with tenderness. Your bank account (and your heart) will thank you.

Kate Northrup is a member of the DailyWorth Connect program. Read more about the program here.

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