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Debt and Procrastination

Procrastination: BFF with Debt!

You’ve read all of the advice tips, tried several times, but you still can not manage to get out of debt. You may even be having trouble making the smallest bit of progress toward a low-debt or debt free lifestyle. While the reasons can be myriad, there several that common ones. Here are five that you may recognize in yourself.

Unrealistic Goals

Most of us want to aggressively attack our debt. That may work for some people, but it can also make for a decidedly ”unfun” period of time. The lack of fun and seeming lack of available cash often causes people to stop pursuing their goal. As you pay down debt, you must allow for personal time (dates, movie rentals, etc) from time to time. Accord yourself a small reward from time to time. Simple things like eating out every other Friday night or budgeting $50 for a shopping spree (cash, not on your credit card) can do wonders for your motivation to keep on track.

Hanging On To The Past

Many people get discouraged when they first start budgeting and paying down their debt. Some of the first thoughts are that you have never been able to do it in the past and you begin to encourage yourself to give up based on your own past failures. Beating yourself up about your past mistakes of failures with debt and paying off debt will not help you. You took the first step by recognizing a need for change. Stick it out, you will feel better if you do.

Over Thinking

Many people are intimidated by money management. Since solid money management is the first step toward becoming debt free, the battle is often lost before it begins. Money management and budgeting are simple if researched and tackled properly. There are dozens of online budgeting tools available. Each has attractive features, so try them on for size to find the right one. Personally, I prefer the old-school pencil and paper, but to each his own.

Peer Pressure

Did you think peer pressure disappeared after high school? Um, whatever… Anyway, if all of your friends are going on a vacation or buying a round, you may feel the pressure to join in. STOP! These friends are probably still in denial that they have money issues. Don’t worry about the Joneses; worry about your family.


The old ”I’ll start tomorrow” excuse. It justifies weighing an extra 20 pounds, not putting up the Christmas lights, and staying in debt. The main question you should ask yourself here is when will tomorrow come?

As you can see, the biggest obstacle that you may face in your attempt to become debt free is you. You already know your current lifestyle is unrealistic and cannot be sustained. It is time to run out of excuses and getting going.


About the author: Jerry Coffey


Jerry Coffey spent many years in a debt-riddled gray area somewhere between broke and desperately broke. His seemingly endless need for more and more cash led him to payday loans, repossessions, bankruptcy, and depression. After years of the same financial style, he heard a piece of advice that inspired him to find a way to change. The advice: ''The very definition of a fool is someone who continues to do the same things, but expects different results.'' This led him to a much more frugal lifestyle that sees all of his bills paid on time and a growing savings account. Even the seed of a retirement account has begun to sprout.


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