Hello Y’all! I hope you are doing well in your corner of the world. It’s July Fourth!! To all Americans and lovers of the United States across the globe, I say Happy Independence Day! It is such a busy day, and I wanted to make sure I had this post out before heading to the fanfare. By the way, all diets are off, so no, I will not be counting ANY calories today.

The weather is quite warm today, but I wouldn’t say we are on hell’s front porch, so if you are out in the sun, please stay in the shade and remember to hydrate. I was thinking this topic didn’t seem right for today, given the celebrations, but honestly, Starr readers are all over the globe, so it’s ok. If you are an adult or a parent, or just someone responsible for their upkeep, you know a thing or two about debt. It is a silent topic that most people do not like to speak about, and it is often a major contributor to the stress we carry at certain periods of our lives. This post shares my experience with many who may not have a safe listening ear. We have ALL been there, irrespective of the scale or amount of our debt, and my hope is that this post will not only be useful to you but give you the courage, wherever you are in your journey, to do better and eventually be debt-free.

How Do We Get Into Debt?

I would say life happens! But the reason we get into debt is attributed to expected and unexpected life changes. This could be anything from college tuition, marriage, purchasing a home, a new car, health factors, OR wanting something that you may not be able to afford in the moment. And it can go downhill from there. I’m not necessarily worried about how a person gets into debt. The main focus is understanding why, how to get out, and how to stay out of debt.

Good Debt Vs Bad Debt: This is a whole other post for another day. But this goes into being able to identify one from the other and leverage one’s credit rating or good standing to be able to successfully borrow money from financial institutions for personal and business reasons.

There Is A Way Out!

Talking About It: This is the first step for a person wanting to be debt-free. Speaking about it is the first step because if you can articulate what is going on, then this is the first step to figuring out the next step to tackle it.

Be Wary of Microwage Solutions: If you Google online, you will find a 1001 solutions to get out of debt. These are marathon programs, which I liken to boot camps that get you in an assembly line solution process that often do not address the underlying root cause as to why an individual or family is in debt. Debt freedom is not a cookie-cutter, one-size-fits-all process because everyone is different and so are their lifestyles. I have heard testaments of many who joined such programs, got out of debt, and fell right back into debt before they knew it.

Deal with and Address Emotional Issues: How a person grows up affects their life outlook much more than we realize. Identifying if we have contentment issues, insecurity issues, or a ‘Keeping Up With The Joneses’ mentality goes a long way to addressing the root cause.

Freedom is Possible!

Stick to the plan. When you find a program that works for you, stick to it diligently.

Be willing to sacrifice momentary pleasure for future gain. Keep your eyes on the ball.

Understand that being debt-free is a lifestyle. In a culture that says ‘You Only Live Once’ aka YOLO, it’s up to you to decide what that means for you on your path to maintaining a debt-free lifestyle.

Celebrate small wins. When you hit a milestone, whether it’s paying off a loan or card, celebrate it because it means you are getting closer to your goal.

Debt is nothing to be ashamed of once you find yourself in it. It, however, should be a teachable moment in one’s life and should give us a turning point to examine where we are and where we would want to be in the future. No one is perfect, and we all make mistakes. Financial education is a necessity that should be taught early; however, not many individuals are or were fortunate enough to have parents or guardians with a path that could be emulated. Nevertheless, it is not too late to begin, and it is never too late to learn new things.

Folks, until I come your way again, I wish you well wherever you are on your journey. Feel free to like, comment, and follow for more. I remain

Periwinkle Starr