Pay Down Debt

Genie coming out of a golden lamp
To pay down debt you must think about life differently.

Everything in life must have a new spin. You can pay off debt by thinking about everyday things in a new light.

Let me share a story with you.

There once was a man that wanted to pay down debt. He wanted to pay all his debt…his Credit cards, his student loan debt, even his mortgage debt. He knew he had to start thinking about debt differently.

On his way to work one day he tripped over a old lamp it looked like one he had seen before in a movie some time. He picked it up and began to dust it off. He rubbed it with his shirt to read what it said on the side.

All at once it began to smoke and sputter and out came a magic genie. Now this is not just any magic genie. This is the magic genie of wealth. The genie said thank you for getting me out of there. I will grant you not three wishes but as many wishes as you like, and will be your servant for the rest of your life.

Wow what good luck this man had. He could have anything he wanted. All he had to do was ask. But he wanted to be wise and not hurt his life by wishing for the wrong things. So he chose to wish for a keen financial mind, instead of all the money in the world.

Of course the genie said your wish is my command, and just like that the man saw things for what they really were not just what marketers made them out to be.

Lets look at a day in the life of this man now that he has this gift from the genie.

First he wakes up turns off the alarm clock that some marketing person said he had to have. He climbs out from under the covers that are overkill of doing the job of keeping him warm at night. He steps on the over priced hard wood floor that he would be paying on for the rest of his life. Then he walks to the shower that is more than getting him clean it is a "life changing experience." To pay down debt he goes to a job that he hates to pay for the house that is sitting empty while he works to pay down debt it cost him to get the house that sits empty.

Maybe we won’t go through the whole day you, but get the drift. To pay down debt you need to rethink your lifestyle & the purchases you make.

I am not saying that the really nice shower has to go. But do you need to put it on a Home Depot credit card at 22% interest? Or can you save up for it so it means more.

If you need someone to help pay off debt a magic genie may not be an option.

But you can think of this website and the great books and advice out there on proper financial ways of thinking as your map to a keen financial mind.

Go To Debt Step 6


"A man in debt is so far a slave,"
Ralph Waldo Emerson.


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Suggested Reading

  • Millionaire Mind
  • Millionaire Next Door
  • Total Money Makeover
  • First Things First
  • Think and Grow Rich
  • Rich Dad Poor Dad
  • Cash Flow Quadrant
  • Maigc of Thinking Big
  • The Richest Man in Babylon
  • 6 Thinking Hats
  • How to Win friends and Influence People

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