Patience
I was just thinking today about how the good things in life develop slowly over time, but the bad happens near instantly. It takes decades to build your career, but only a couple minutes to get fired. It takes years to lose weight, but only a second to get killed in a car crash.
The same rule applies to money. It only takes a few months or even days to get into debt — debt which will require years to pay off. Debt is a flash flood that seems like it will never drains. And that, friends, is what makes debt so dangerous.
Patience is never so great a virtue as when dealing with your finances. If there’s something I want to buy but can’t afford today, I must consciously choose to be patient and build my savings. If you are currently in debt, you will eventually come to realization that you can’t pay off your creditors instantly. Like all good things, getting out of debt will take time.
Feelings of despair and frustration are fueled by a lack of patience. Debt that is repaid slowly often feels like it will never disappear. Don’t let yourself give in to the hopelessness. I urge you to use a debt repayment calculator to create a repayment calendar, which will be your map on the road to debt-free living. I assure you that, armed with a repayment countdown and a little bit of discipline, the day will come sooner than you realize when you send in that final credit card payment.
