Debt is insidious, precisely because it’s everywhere. The debt lifestyle is all around us. In a way debt is like air — we don’t even think about air anymore. We take using it for granted as a normal part of life, until we have difficulty breathing. But unlike air, debt isn’t something we actually need. In fact, debt can be bad for us. And having debt-related difficulties can be a huge wake-up call that results in an improved lifestyle.
How wrapped up are you with debt?
Recognizing the extent that debt is intertwined with your life (and the effect that it really has on you) is the first step to unmasking the debt lifestyle. Start with something obvious, like how you feel when you get the mail.
I remember hating to get those credit card bills. It’d seem like I’d just paid one when another one would appear. Sometimes a bunch would come at once. Opening them was worse, because there were the fights afterward — the accusations, the blame, the frustration at not having enough money to pay off the cards (or even to stay out of the red in the checking account). All of those things take an emotional toll on a person.
Identify your debt triggers
Identifying the day-to-day habits that trigger you to use debt is also critical. Make a mental note of every. single. time. you pull out a credit card or hear an advertisement for credit that tempts you. Focus on identifying WHEN you are using credit, HOW you get sucked in, and WHAT credit really is: debt.
Those ads for 90 days same as cash? Debt. Home equity loans to pay off credit cards or add a pool? Debt. Overdraft lines? Potential debt. Car payments? Debt. Swiping your VISA credit card at McDonald’s? Debt. Sticking a plane ticket on your American Express because you’ll have the money to pay for it before the bill is due? Debt. Accepting an invitation to an event when you don’t have the money saved up, right now to pay for the tickets? Debt.
Understand what debt really is
Debt means an obligation. A mortgage on your future. The inability to really enjoy the here-and-now. Worry, stress, and frustration. Guilt.
For an even bigger wake up call, break that down into specifics. Debt could mean being unable to quit a job you hate unless you can find a better one. Spending 2 hours a day in your car so that you can commute to the job that pays for things you already bought but may not even remember. Missing out on time with your family, etc.
Finally, turn all those thoughts of debt into “I don’t want that.” Focus on what you DO want instead: to be debt free.
I'm Jackie Beck, personal finance writer and creator of 
That is a GREAT way to think of debt. As an obligation. It woudl be great if every freaking time people pulled out the plastic, they looked at it and thought, “I’m buying obligation right now — I’m giving away my future earnings to a credit card company.” I bet we’d make different decisions sometimes if that were the case.
I agree. Plus, we’re paying extra for the “privilege” of taking on those obligations.
Nice post! A huge key is finding out that underlying reason of why you’re spending so much and why you’re doing it on credit. For me, it was being discontent with what I had and using credit to provide a life I wanted. Once I realized that and was able to take it head on I was able to see success.
Can I ask why you thought you needed credit to get the life you wanted though?
This post is great! I got out of debt, only to go back in. I have been trying hard to get out of debt and then a family emergency came up. Although, it was a funeral I did not want to miss, I still put more debt on my credit card. This post really helped me think about reasons why I go back into debt after trying so hard to get out of debt.
My triggers are being unhappy in my life and wanting either material items to make me happy or trips to enjoy the life I really want. Thank you for the post, because I think it is a great starting point for me to sit down and really think about what it is I want out of life. Not just goals, but what I am really looking for that I think debt is masking.
At least you said you didn’t *want* to miss the funeral, not that you “had” to attend it. Was the funeral the trigger that sent you back into debt, or was it something else?
Wow! Very eye-opening post! As I look back through our years of debt, I have to agree that for me too many times it was spending as I searched for happiness and contentedness. Filling a void, I guess you could say.
But now that those voids are filled and I am at peace with myself, we are on our road to debt-free, and plan to stay there, because we recognize the accumulation of debt for what it really was to us!
Thanks for the great info!
Glad to hear things are going well for you now :)