I’m Thankful for My Debt – Here’s Why
Debt is one of those four-letter words in the world of personal finance. But it can also push you into a money-savvy mindset.
It might be an odd way of thinking, especially for a personal finance blogger, but I am truly thankful for my debt and for the struggles that I’ve faced so far.
Debt generally gets a bad rap in the personal finance world, and it’s easy to see why. It can hold you back from accomplishing a lot of things because it takes so much of your income to pay it off. But outside of the echo chamber, many consider it to be normal. Even then, I highly doubt that most people would go so far as to say they are thankful for their debt. But I am.
Discovering My Strengths
I’m thankful for my debt because it taught me a lot about what I’m capable of.
I learned to scrimp and save and be patient. Patience has never been my strong suit, but I’m getting better.
Discovering My Values
My debt has also helped me figure out my values. Most of it was racked up while trying to keep up with the Joneses, but now I don’t have the money to keep up, even if I wanted to. Instead, I’ve taken the time for self-reflection – to learn my values and what’s important to me. I now spend my money on what I truly value instead of on what I think will make me look “cool” or “wealthy.” Value-based spending is where it’s at!
My Debt Helped Me Appreciate Life…
And my debt has helped me slow down and appreciate the things that I do have.
Instead of buying new things and spending money left and right, I now save and plan for shopping trips, vacations, and expensive purchases. It gives me something to look forward to and makes me feel good when I do reach my goals and get to enjoy what I’m spending my money on.
…And it Helped Me Grow.
I’m also thankful for my debt because it’s allowed me to make friends, change careers, and learn lessons that will serve me in the future. Without my debt, I would never have started my blog or made friends with people in the personal finance community. I would never have found my passion for helping others with my writing. And I wouldn’t have learned the financial lessons that I can now use to make sure that I have a bright financial future ahead of me. I now know how to build savings and persevere at paying off debt. I’ve also learned a little bit about investing along the way.
A Final Thought
As I prepare to make my final credit card payment this month, I realize that it was hard to be thankful for my debt while I was paying it off. It seemed as though the end would never come. But now that the end is a lot closer, I’m truly thankful for the lessons that my debt has taught me. As thankful as I am for the lessons that I learned, I want to make sure that I never end up in such deep credit card debt again!