Lean Into The Fear and Face Your Debts

Personal Finance Blog - Lean Into The Fear and Face Your Debts

Lean into the fear and face your debts is the topic I shared in the Amazon Number 1 bestseller - The Abundance Factor.

If you truly want to live an abundant lifestyle, you need to release yourself from the chains of debts.  You need to take clear action to allow more money to flow to you.

Face Your Debts

Focusing on debt can, of course, attract more debt, but focusing on debt elimination will not attract more debt as you are, in fact, showing the Universe that you are taking control of your money, and this has a different energy level to it.

You are clearly saying that you want to eliminate debt. It is a subtle yet quite powerful difference.

Dealing with debt by getting organised and making a simple repayment plan will alleviate your stress and fear about your debt, freeing your mind to concentrate on positive thoughts and attracting more abundance.

What Can I Do?

While worrying about debt gives you more debt, having a debt-elimination plan reduces debt. So let's change your feelings about debt by getting practical and creating a healthy money habit.

The first thing to do is face your demons head-on and make sure all your bills are opened and downloaded.  It's time to stop burying your head in the sand.

Remember, we want to make dealing with debt a positive experience, so it's best to do this when you aren't tired, and you have plenty of time to deal with all the paperwork in one go.

You are taking inspired action so best to get this done quickly.  As you try to keep the mood upbeat, try playing your favourite music or have a positive or wealth mindset meditation playing in the background.

This is not a chore - it is something you need to do - you've accumulated so now you need to deal with it.

You need to be in the best mental place you possibly can be when you do this work.

A Practical Guide for Eliminating Debt

Embarking on a journey to eliminate debt can feel overwhelming, but it becomes manageable and empowering with a structured approach. 

Here's a step-by-step guide designed to help small business owners, entrepreneurs, and freelancers (and, in fact, anyone else with debts) navigate their way out of debt and toward financial freedom.

Step 1: Acknowledge and Assess Your Debt

The first step towards conquering your debt is to acknowledge it fully. Gather all your financial statements and list every debt you owe, including credit cards, loans, and any money owed to suppliers or partners. For each debt, note the total amount owed, the interest rate, and the minimum monthly payment. This comprehensive overview is crucial for formulating an effective debt-elimination plan.

Step 2: Create a Budget

With a clear understanding of your debts, the next step is creating a budget prioritising debt repayment. Start by listing your income sources and monthly expenses. Identify areas where you can cut back and reallocate those funds towards your debt. Remember, a budget isn't about restricting your life but empowering you to make informed financial decisions.

Step 3: Choose Your Debt Repayment Strategy

Two popular methods for tackling debt are the Snowball and Avalanche methods. The Snowball Method involves paying off your smallest debts first, building momentum as you move towards larger debts. The Avalanche Method focuses on paying off debts with the highest interest rates first, potentially saving you money in the long run. Choose the strategy that best aligns with your financial situation and psychological needs.

Step 4: Implement Simple Debt Repayment Methods

Automate your payments to ensure you never miss a due date, and consider consolidating your debts to secure a lower interest rate. Any extra income- from a side hustle, a bonus, or selling unused items - should be directed towards your debt. This accelerates your repayment process and brings you closer to your goal of financial freedom.

Step 5: Build an Emergency Fund

Parallel to your debt repayment efforts, start building an emergency fund. Even a tiny fund can prevent you from falling back into debt in case of unexpected expenses. Aim for an initial goal of £500 to £1,000, gradually increasing it to cover 3-6 months of living expenses.

Step 6: Stay Motivated and Track Your Progress

Eliminating debt is a marathon, not a sprint. Keep yourself motivated by celebrating small victories and tracking your progress. Visual aids like charts or graphs can be incredibly motivating and help you visualise your journey out of debt.

Step 7: Reflect and Adjust

Regularly review your debt elimination plan and adjust as needed. Your financial situation may change, requiring you to update your budget, reassess your repayment strategy, or find new ways to cut expenses and increase income.


When you open your bills or statements, say thank you.  It might seem a little weird at first, but for each bill we have it is for something that has been received or about to be received - so this is an opportune time to practice gratitude.

As you examine your credit card statement, reflect on all the fabulous purchases you have made or the necessities that your account has allowed you to purchase.  There is always something to be thankful for.

When opening your bills to appreciate what you have in life helps reduce the stress associated with them. Let's face it, no one really likes paying bills, but making the best possible positive action we can will help with our attitude towards them.

Remember the more you express gratitude, the more abundance flows to you.  Your feelings are important. You will feel better about your debts if you are organised and you do this by creating a debt repayment plan.  Such a plan helps you to keep your eye and your feelings on the price of debt elimination rather than debt accumulation.

Producing a debt elimination plan, might not sound exciting but it is simple to do. Grab a piece of paper, and make a list of everything you owe, including the amounts, minimum payments due.

Work out the maximum you can afford to use to pay off your debts, allocate the minimum payments to each balance and the rest should be used against the smallest balance, and then when that has been repaid in full, the amounts get allocated to the next smallest balance on your list.

It can be that simple.  The debt, of course, is still there but for now, you are no longer thinking about it from a place of fear.

What Else Can You Do to Think Positively about Your Debts?

Well, visualization is a fantastic tool to use. Visualise receiving your credit card statement, looking at the balance, which is nil.  Visualise receiving your bank statement, and seeing your desired balance available to you in cleared funds.  Alternatively, visualise a letter from the bank saying your mortgage has now been repaid in full.

And visualise this often!

It will take time to start to believe these visualisations, but when you do, your unconscious mind will start to look for ways to make this happen, and will therefore help you bring more funds to you that you can use to repay your debts.

Eliminating debt requires commitment, discipline, and a positive mindset. By following this practical guide, you're working towards becoming debt-free and building a foundation for long-term financial health and abundance. Remember, every step you take towards paying off your debt is a step towards the financial freedom that will allow you to live the life you envision.


There are no comments yet. Be the first one to leave a comment!