As a child you may have seen or heard your parents talk about debt. You may have felt that when you grow up, debt is a requirement for adulthood because everyone has it, and it’s apart of life.
You mat not realize just how much children can be affected emotionally at a young age. This can influence them for the rest of their lives.

Resemblance to your parents

You may have grown up with different ways of behaving when it comes to spending your money and accumulating debts. You may not see the impacts of these behaviours.
You may only recognize this when you see the similarities between you and your parents. It is sometimes difficult to admit that your debt is similar to your first family. You may not see how you got into this pattern, or how to get out.

Afraid of moving to a new identity

You may want to get out of this pattern, but may also have a fear of moving on to a new identity. You may notice that not having financial difficulty is a feeling that you are not accustoming to having, because of all the difficulties you’ve had with money and debt.

Moving onto a new way of life with new feelings, new emotions, and new habits leads the way to a new financial identity. Taking this step will feel as if you are abandoning the heritage of your family’s way of life, especially if you are accustomed to having financial difficulties.

If all you know about money is debt, arguments and over-spending on things you don’t need is normal. You may have a difficult time adjusting to a new way of behaving. You maybe unsure whether this new behaviour will last and you may want to go back to the old feelings because they are familiar and comfortable.

How you came to having this amount of debt

You may not see how you came to have this amount of debt. All you know is that you went to the store, saw things you thought you needed, and bought them; only to realize, at the end of the month, when the bills arrived, that you had created debt.

What price are you willing to pay

It is natural that you want to have a better life for you and your family. At what price are you willing to pay for this? If you or your partner is always working to pay off your debt and you don’t have enough time with each other or to appreciate your home and family is it worth the sacrifice?

Breaking the cycle

Breaking the cycle of acquiring unnecessary debt requires a conscious effort to break the pattern of your spending habits.
Taking the time to write down where your money is being spent for six months, can help you to see how you use your money, and where it goes.
Having the support of family members by having them take note of their spending will also make a difference. Getting in touch with what emotions are triggered when you cannot purchase something will show you where you have been sabotaging yourself.

Conclusion: You may have question whether or not debt is a requirement for adulthood, when all you heard as a child, were adults talking and arguing about debt, and who was spending more than what was earned.

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