Money Monday Tip #18

Thanks to everyone who entered the giveaway last Monday. The winner of the Personal Finance Handbook is EJ Cooksey. Congratulations EJ, I will contact you later today for your shipping address.

Today’s money tip is about being focused. Have you ever felt like all you do is pay on debt, but the balance never goes down? I know in the past I have and couldn’t figure out why my debt hung around like a pet until I heard my problem, I lacked focus.

Focus = directed attention.

I saw my debt, but I wasn’t focused on it. I was traveling, doing my own investing in stocks, mutual funds, ETFs, 401(k), roths, entertainment and just living life. These things in itself are not bad, but for someone in debt, my money wasn’t focused on anything in particular, I was asking it to be everywhere and to do everything. I don’t have it that good.

Temporarily, I had to put some of my “distractions” on hold and put my blinders on. Now my debt is quickly shrinking because my income is focused on one thing, to kill bill!* Our income is our greatest wealth building tool, we don’t have to spend it forever on making payments. There’s a debt free life out there just waiting for us!

Some questions to consider:
If you have debt are you asking your money to do a mission impossible?
Do you have too many distractions in your life that eat away at your income?
Can you weed out unnecessary spending and focus on getting rid of debt?

*no money was hurt during the writing of this post.