Money Management: An Essential Guide on How to Get out of Debt and Start Building Financial Wealth, Including Budgeting and Investing Tips, Ways to Save and Frugal Living Ideas by Scott Wright

Chapter 1: The Money Mindset
Do you have a massive debt? Are you feeling stressed about paying your
debts? Do you struggle to make ends meet? Do you find it hard to pay your
monthly bills? Do you find it hard to save? Are you living in fear of losing
your home?
If you answered “yes” to any of the above questions, you aren’t alone.
According to the United States Census Bureau, it is estimated that more
than 69% of Americans are in debt. Also, colleges students are said to have,
on average, $35,000 in student loans.
Everyone has gone through a financial crisis at one point in their life,
including the wealthiest people in the world. Debt can be overwhelming,
and if not handled well, it can lead to depression. If you are one of those
people who is experiencing a financial crisis, keep in mind that no problem
is permanent. In fact, there are numerous options that you can take to start
fixing this problem.
Many people want to be debt free, but borrowing money is not a bad
thing. Debt can be good or bad; it just depends on how you look at it.
Despite this, debt has been linked to negative connotations. Most people
cast down their heads when the talk of debt emerges; some even feel
embarrassed about it. If you let debt control your life, then it can generate
more and more anxiety.
Debt happens; it is part of life. It is not a bad thing like the way people
perceive it. In particular, debt causes a positive effect. Just because
someone owes you money, doesn’t mean that you are financially struggling.
What is important is how you approach it.
When feeling low about your financial problems, just remember that
debt can be a means of buying a home that you have always dreamed of. In
other words, not all debts are equal. If you are already in debt or you’re
worried about getting into debt, read on to learn more. Understanding debt
is vital to both financial security and financial literacy.
Debt is not a life sentence. It can be a way for you to examine your
financial priorities and adjust your life.
Debt is debt until you give it meaning
One of the life-changing magic points from Brooke Castillo originates
from a famous quote: “Your thoughts create your feelings. Your feelings
create your actions. Your actions create your results. Circumstances are
neutral.”
So in simple terms, Brooke Castillo is saying,
Thoughts=>Feelings=>Actions=>Results.
Brooke’s quote simply sums up how the universe operates. If you go to
learn about personal development and psychology, you’ll learn the same
thing. In other words, it is not made-up stuff by Brooke, but he nicely
polished it.
Indeed, circumstances are neutral. They are neither good nor bad. They
are simply facts.
If you still have problems in understanding this, read these two
examples.
First, consider a peach. You might love peaches, and someone else hates
them. Neither is the peach good nor bad; it is just a peach. The peach
doesn’t turn bad or good until we consider it bad.
Secondly, let’s look at the idea of death. Many people die every day.
However, we are unaffected by it. And we have to be. There is no option.
We can’t go around being depressed about losing people we don’t know.
But the fact remains that people are dying. We grieve when someone we
love passes on. Why? Because we have taken the time to think about death.
We have given death meaning. This applies to everything.
Going back to where we left off, circumstances are neutral. You have
the power to make them mean whatever you think about. And debt is not an
exception. In other words, debt is neutral. Neither bad nor good.
In particular, your current debt is neutral. This doesn’t mean going into
debt in the coming years, which would be an action. We are talking about
the debt you’re already in.
This is good news.
Why? Because you can choose what you want your debt to mean.
It doesn’t matter what your lover, best friend, mom, or cousin say about
your debt—it’s up to you to make it mean whatever you want.
When you choose debt to mean something bad about you, it’s you
who is going to suffer
Many people have made debt mean so much about them in an
unproductive way. Little do they know that they are hurting themselves.
Many people feel embarrassed to talk about their debts. Some consider
themselves hopeless because of debt. Then there is the scarcity mindset.

Money Management: An Essential Guide on How to Get out of Debt and Start Building Financial Wealth, Including Budgeting and Investing Tips, Ways to Save and Frugal Living Ideas by Scott Wright