How To Use Debt To Transform Your Life
By Steven Erlick

Debt is not usually considered to be a positive event in your life but it can be. Uncontrollable debt can act as a catalyst for change. The trick is to take charge of your money and debt so that you are in control.

Firstly you have to accept that there is a problem and resolve to do something about it. Once you are determined to bring your house in order you can start to change your life. You of course need to see an advisor for sorting out your financial problems, but at the same time you can start to reflect on how you will live without debt.

One useful technique to transform your life is to write your own financial obituary. It would explain how you previously lived by spending more money than you had but that you decided to do something about it and became debt free. It's a simple device but a very powerful one as it externalizes what you will be doing. You are writing an obituary to signify that the old you is no longer and that the new you is being reborn.

If you follow up writing your financial obituary with a written contract with yourself so much the better. It should state what you intend to do and how you intend to do it. It might mention your commitment to living frugally or list the ways that you intend to increase your income. It does not matter, as long as it is real to you and you sign it!

Debt is not your fault. Learn how to get out of it and prosper.

(c) Steven Erlick. All Rights Reserved.