Achieving zero debt is simple, but it is not easy. I will explain. Being debt free or eliminating debt may require a major change in behavior.
The first change is the realization that people of quality are not defined by their possessions (clothes, car, handbag, etc). The second is to think about your future. If you are in debt and truly choose not to be, you will change your behavior.
For couples, it is imperative that both hold the same beliefs and convictions about debt. Failure to eliminate debt is impossible without cooperation.
In a capitalistic society, marketers have become very savvy. They evaluate your "needs" and your "wants" and somehow convince you that you need and deserve their product.
Some people are angry with themselves because they are in debt. They did not envision living a life indebted to the bank or credit card company. They believed that, in this great country, they could have it all. That is unrealistic for most.
Many debtors find it hard to believe that they have nothing to show for all their hard work. The bank owns their car and their home. And if they don't make regular payments, the bank will take away both.
In addition, they may have credit card debt that requires minimum payments and high interest rates. They had access to money, but the price was high. Too many people cannot even imagine having zero debt.
Money worries can cause physical problems such as stress and even ulcers. Families have been torn apart by debt and reckless spending. It can lead "drinking" and depression.
Often there is denial. People with spending problems may not admit that they spend too much. The tendency is to blame someone or their insufficient earnings rather than address the real problem.
Over-spenders may feel guilty, ashamed, and embarrassed. The short-term euphoria of buying never lasts as the purchases become less important, old, and discarded.
Credit card debt is one of the worst financial mistakes. The interest rates and fees are high. Climbing out of this type of debt is very difficult.
Being in debt or being debt-free is a choice for most people. Spenders buy things that they cannot afford. They justify it somehow. Eventually the purchased items are sold (at a great loss of money) or discarded. My suggestion is simply "don't spend money that you do not have".
Attempts to remove debt will not be successful unless all involved are committed to prevail. I suggest that you select a method that appeals to you. Then become dedicated to it.
Who do you think buys the better values, people in debt or those with zero debt? Of course, it's those with zero debt. That is part of the reason that they have no debt.
What will your finances be one or five years from now? For most people, it will be determined by them. If uncontrolled spending is a problem, it will or will not be addressed.
When we charge things on a credit card, the company is extending credit (even if only temporarily) to us. Your credit score will be determined, in part, by the regularity of your payments and if you have a zero balance.
Most debt management companies will suggest paying off the debt with the greatest interest rate first. I agree. However, one company recommended paying off the loan with the lowest balance first. They believed that the psychological advantage of eliminating a debt would be more valuable.
Finally, most people will eventually retire. This will happen with or without money problems. I can assure you that retirement without money problems will provide a more stress-free life. You will eliminate worry, sleep better, and not dread those inevitable bills.