There is a big difference between wants and needs and when you are faced with excess debt then the only thing you really need to focus on are your needs and how you are going to pay for them.
You don’t need to own the latest wide screen television or an X-Box or PlayStation. If you’ve got overwhelming debt then one of the first things you need to do is start limiting luxuries. Now this doesn’t mean you are going to downgrade your lifestyle at all because along with all these luxuries that you’ve been purchasing your lifestyle has been downgraded considerably with the increased stress and financial burden you are faced with every day.
Now consider how much happier you would be if you didn’t have to pay back all that debt. Consider how much happier you would be if you didn’t have to think about how you are going to pay the food bill at the end of the week.
Once you start putting these factors into perspective you can see how the purchase of luxuries that might possibly give you a few moments of pleasure have added a whole lot more stress and strain to your lifestyle and have actually limited the things that you can do on a daily basis.
Wouldn’t you like to trade in some of those appliances that you never use for less stress and more time to get out and enjoy yourself? Wouldn’t you like to trade them in with a chance to take a short holiday away from the worry is that are constantly on your mind at the moment?
Now is the best time for you to start looking at these luxuries and consider the benefits they have given you and the downside that you are living with.
When in debt limit or eliminate your luxuries and those that you have and don’t need – cash up and use the money to pay off some of your debt. You will be a lot happier in the long-term.