Being in debt can be extremely stressful, and incredibly, every 8 in 10 Americans are in some kind of debt right now. It’s a pretty scary thought, but not all debt is necessarily bad. You just need to know how to make use of it.
But that’s not what we want to talk about today. I want to share more about debt free affirmations that regular people like you and me can use on a daily basis so that we do not get ourselves into a financial black hole.
By reciting these affirmations as well as positive money affirmations, you can start to bring about the right kind of mindset to handle your money more wisely, and hopefully, get out of debt quickly.
What causes debt?
There’s a lot about debt that people might not understand, but one thing that everyone can agree on is that it isn’t fun. The good news is, that you don’t have to be stuck in the cycle of debt forever!
First things first. What causes debts to accumulate?
The short answer: A lot of different things. But if we’re being honest with ourselves, there’s really only one specific reason why people find themselves in debt: they don’t pay their bills on time.
Your credit score is a reflection of how well you manage your money and how likely you are to repay your debts.
If you make late payments on your bills or if you miss payments entirely, then your credit score will suffer as a result.
That doesn’t mean that life can’t throw unexpected curveballs at us and cause us to miss payments–it happens sometimes!
What matters most here is whether we react properly when it does happen so we can get back on track with our finances as quickly as possible.
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What should you know about credit history?
It can take years to build a good credit history.
If you don’t know your credit score, it’s good to check it now. You can request a free credit report each year from the three major credit bureaus, Experian, Equifax, and TransUnion, or look into services that let you regularly check your score and get alerts if there are any changes.
Why is this important? The better your credit history—how much debt you have and how well you manage it—the better interest rate you’ll get on a loan.
Imagine two hypothetical borrowers named Mary and Jane. Mary has had a long-standing relationship with her bank, stayed employed over the years, paid her bills on time, and borrowed money only when she needed to finance medical school. She has done just about everything right in terms of establishing good financial habits.
Jane, however, is new to the community where she lives and doesn’t have much of a relationship with her bank because she hasn’t been there very long. She’s missed paying some bills in the past five years and has had trouble staying employed for more than six months at a time.
Both women consider buying a house next year so they borrow $5,000 for a down payment for each of them from their local banks to get preapproved for loans before finding houses they want to buy.
Both have incomes that qualify them for this amount of borrowing but one of them will pay less interest over time than the other one will on her loan: Mary gets an interest rate of 5% while Jane pays 10%.
Over 15 years, Mary will repay $1860 less than Jane would on identical loans at these rates if they never make additional payments during that period.
Doesn’t seem like much? Now multiply that amount by 10 or 100 times to adjust for the amount you need to borrow. Every bit counts!
Bad debt can cause people problems for years after it is incurred
Bad debt can cause people problems for years after it is incurred.
In the most extreme cases, bad debt can lead to bankruptcy and even to the loss of one’s home.
Bad debt is usually unsecured, meaning that no collateral is securing the loan so there are no assets at risk if payments are not made and the creditor decides to take legal action.
People in significant amounts of bad debt have been known to become suicidal and may even lose their friends and jobs! Certainly not where we want to be!
How to Reduce Debt
There is a ton of financial advice readily available out there, and I wanted to throw in mine too. I have never had any issues accumulating debt and in fact, has made them work well for me.
If you want to start reducing your debts, follow these simple steps below to get started:
- Understand your debt. Look at your loans, credit cards, and other debts. Know the interest rate on each loan and how long it is scheduled to last. Write down the minimum payments for each loan, credit card and other debt you have.
- Make a plan to pay off your debt. Create a budget that includes how much money you can put towards paying off each loan or credit card, as well as how much money you should set aside for savings and other expenses. Then, work out a schedule that will allow you to pay off your debt within three years (or less).
- Start with the smallest debts first! Paying off smaller debts quickly will help motivate you to continue paying down your other loans and credit cards as well, which means more cash in your pocket sooner rather than later!
How to Use Affirmations Effectively?
- Identify the negative thoughts that you wish to get rid of or something that you wish to manifest. Affirmations work in both scenarios, but you need to be clear about what you want. This post about learning how to write affirmations might help you out.
- Use the following list as a source of inspiration and guidance. You may use any affirmation as it is, or modify it to make it your own. The key thing here is that the affirmations MUST resonate with you and is a statement you truly believe in.
- Pick out at least 2 affirmations and start using them.
- Begin a routine of practicing at least twice a day of reciting the affirmations with each session lasting 3-5 minutes. Repeat each one 10-15 times daily. You can do this in front of a mirror, speak out loud, or do it in your mind. Do not skip any sessions. I usually do this each morning when I wake and before I go to bed.
- Download and print out your own affirmations worksheet below to use as a guide for manifestation. Stick it on your mirror/journal/vision board, or anywhere you can easily access it throughout the day so that it can serve as a constant reminder to you.
- Alternatively, you can check out our Daily Positive Affirmations Cards which are designed and organized for you. All you need to do is print them and take them everywhere you go!
- Be patient! It usually takes a month or so to see changes.
Positive Affirmations to Pay Off Debts
- The elimination of my debt is important to me and my family.
- Each day I am reducing my debt by being organized and in control.
- My income is constantly increasing.
- I am capable of overcoming any money obstacles that stand in my way.
- I am really good at saving.
- I will keep track of where I am spending my money.
- I will only spend money on things I need and overcome the urge to spend money on things I don’t need.
- I find it easy to save money.
- I will live a frugal lifestyle and love doing it.
- I am committed to a debt-free life.
- I am creative and open to new solutions.
- I will soon be able to live debt-free.
- I always have enough money to pay my debts and provide for all my daily needs for my family.
- I can effortlessly visualize what it will feel like to be debt-free.
- I am more than my debt.
- I naturally take control of my money and spend it wisely.
- I find it easy to be disciplined with my money.
- It is important to me that I take control of my finances.
- I naturally only spend the amount of money I have budgeted for.
- I have all the money I need to live on and a lot left over at the end of every month.
- Others can see that I am always responsible with my money.
- I will overcome my debt and live financially free.
- Managing my money well is part of my normal thinking and planning.
- I track my expenses and know where my money is going at all times.
- One day my future self will thank you.
- I am a money magnet.
- I have control over my spending and finances.
- I always handle my finances with care and attention.
- I will easily get out of debt.
- I am capable of managing my debt.
- I will only say yes to the things I absolutely need.
- There is a positive difference being in control of my money brings.
- My money consciousness is always increasing and keeping me surrounded by money.
- I am great at managing my money.
- I am getting out of debt.
- My mind is highly focused on getting out of debt.
- All demands have been fulfilled and every need has been provided for.
- I am always disciplined in how I spend my money.
- I am thoughtful in my spending decisions.
- My spending is now wise and thoughtful, it now has a purpose.
- I am committed and focused on getting out of debt.
- Every day I am attracting and saving more and more money.
- I am committed to eliminating all debt from my life.
- I am moving towards a debt-free life.
- I am starting to effortlessly resist spending money on things I don’t need.
- I will become financially stable.
- I boldly conquer my money goals.
- I am living life debt-free.
- I choose faith over fear.
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- I will manage my finances with ease.
- I am worthy of a solid financial foundation.
- I am happily living an abundant and frugal lifestyle.
- My debt doesn’t control me.
- Each month I will follow my budget because it helps control my spending.
- It’s easy to pay my bills and meet all my financial obligations.⠀
- I control my spending, it does not control me.
- I know that I deserve to be completely debt-free.
- I know how to manage my money for wealth.
- I look at my finances without fear.
- I am becoming more responsible with my money.
- My debts are limited, my money is unlimited.
- My finances are my responsibilities, no one else’s.
- My past due debt is decreasing every day.
- I am open to new ways of earning money and paying off debt faster.
- I am starting to get out of debt.
- I will get out of debt.
- I will continue to live an abundant debt-free life.
- I will stay committed to following my budget.
- I am disciplined and only spend what I have to.
- I achieve whatever I set my mind to.
- I always spend my money wisely.
- I am free of debt and financial burdens.
- My debt-free journey is not about me but about those I love and care for
- I am open to new ways of saving money and paying off debt faster.
- Each day moves me a step closer to living debt-free.
- I know exactly where all of my money is going at all times.
- I am debt-free. Money is constantly flowing into my life.
- I am achieving my money goals.
- I move from poverty thinking to prosperity thinking and my finances reflect this change.
- My steps are ordered, my finances are in order, and I embrace abundance.
- I will make the necessary adjustment in my lifestyle so that I can live debt-free.
- I love spending my money wisely.
- I always save from my monthly income.
- Being free from debt and financially stable makes me happy.
- I am controlling my finances, not my finances controlling me.
- I am finding it easier each day to control my spending and become debt-free.
- My debts are disappearing as I speak.
- My spending habits are now under my control.
- I am excited to keep my finances on the right path.
- Having savings and being debt-free will be a wonderful place to be.
- I am excited and committed to being completely debt-free.
- I accept and receive unexpected prosperity.
- I will be responsible and wise in the ways I use my money.
- I am able to pay off all of my debts.
- I create wealth and live rich in faith, love and family.
- I am wealthy.
- I am a wise steward of my money and abundance.
- I am learning more about myself and money each day as I step towards being debt-free.
- I will quickly get out of debt.
- My money makes money.
- I find the positive in my money situation.
- My savings are constantly increasing.
- I am financially free.
- My financial position is my responsibility and I can improve it each day.
- I tell my money where to go now, not wonder where it went.
- My debts are getting smaller and smaller.
- My financial health is improving each day.
- I find it easy to stay on top of my spending.
- I let go of all debts holding me back from creating the life I want.
- My bank account is filled with money.
- I am financially abundant.
- I will do whatever it takes to become debt-free and financially stable.
- I am building up a 3-month emergency fund to protect myself.
- I am in command of my money.
- All of my worries about debt are gone.
- I choose to spend my money wisely.
- Each day I am becoming more responsible with my money.
- My self-worth and net worth are growing.
- I will get my finances in order.
- I can easily imagine what it feels like to be free of debt.
- I am naturally able to save money.
- I walk in abundance all my needs are met.
- I will change my spending habits and take control of my money.
- I am a good steward over my blessings.
- I’m getting out of my own way when it comes to money.
- My credit cards are clear of any balances.
- Each day I’m getting out of debt.
- I am developing a strong dedication to living a debt free life.
- I am doing whatever it takes to eliminate debt.
- My wealth is constantly increasing.
- I enjoy spending my money wisely.
- I am beginning to get out of debt.
- I am disciplined and smart with how I spend my wealth.
- I can manage my debt today.
- I am worthy of a positive cash flow.
- Each day it is easier to live an organized and frugal lifestyle.
- Peace and freedom will come from being debt free.
- I will become a financially independent person.
- I am mindful of and committed to reducing my debt.
- I will keep my finances and debts under control.
- I give my finances great attention and care to ensure I can get out of debt.
- I am becoming more financially stable each and every day.
- I always find a way to put money into my savings.
- The people around me can see that I am responsible for my finances.
- I am the kind of person who is just naturally good with my money.
- I’m financially secure for life.
- I control my money, my money does not control me.
- I am committed to eliminating all debts that don’t serve me in my life.
- It feels great when I overcome the urge to spend money unnecessarily.
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- I walk in my purpose. Peace, healthy, and wealth will follow.
- When I become debt free I will not go back to using debt because I will free from its control.
- I am naturally disciplined with my money.
- I keep track of my finances and make more than I spend.
- I love money. Money flows easily into my life.
- Being financially healthy is crucial to my happiness.
- I easily use all the available tools to pay off my debt quickly and sustainably.
- It feels good when I resist the temptation to spend money unnecessarily.
- I am confident in my ability to pay off my debt thanks to my great work ethic.
- I enjoy working on becoming financially free and independent.
- I am climbing out of this debt hole each day, one step at a time.
- I am a very capable person that can tackle all money obstacles.
- My finances are my business and I will be careful and attentive to them.
- I am on top of my finances.
- I naturally live free from debt.
- Being financially stable is crucial to my life.
- I naturally pay off debt and have a positive relationship with money.
- Each day I am becoming more financially healthy.
- One day I will help others in their debt free journeys so they too can experience the peace it brings.
- I will be financially disciplined and save my money.
What Affirmations to Read Next?