In a previous article, I wrote about "The Magical Powers of Biscotti" and how it was used to change the conversation from negative and defeating to positive and empowering. This shift helped my clients focus on their intention to eliminate credit card debt and remove the anvil of bills from above their heads. The process begins with intention. Yes, I know "the road to hell is paved with good intentions." Well, so is the road to heaven. Without intention; nothing happens. Let's pull off the road into a rest stop and take some time to examine this more closely.
Every January 1st, we make a list of our resolutions or intentions: to lose weight, pay off credit card balances, call Aunt Sophie more often, etc. These resolutions are all worthy but need some extra oomph to transform them from a good idea to an action we consistently implement. Where does this high octane fuel come from? Just like there is a process of change, there is a process of turning thought into action. One major step in this process is visualization.
Visualization. We've all heard of it and in fact, do it all the time. Unfortunately, many of our visualizations are negative or have negative implications. We imagine how much happiness will be derived from buying that big flat screen television. We don't visualize how we will feel when the bill comes in from the credit card company. We see a luscious dessert and imagine how happy it will make us to devour the entire plate of sugary confection. We don't visualize the inches added to our waist, the excess pounds on our body and the possible health considerations. Helpful and supportive visualizations help you create a compelling reason to do something meaningful. As Stephen Covey says, "Begin with the end in mind!" Today, we are going to try a positive visualization.
Take a moment to think of one action related to your finances that if performed successfully would have a positive impact on your life. Write it down as a positive statement. I will use an example from an exercise I did with the clients who chose to tackle their credit card debt. My goal is to pay off my credit card debt and maintain a zero balance on a monthly basis.
Once you have your positive statement, answer these questions:
1. Why is this important to me?
2. Who is affected by my decision?
3. How does my decision improve their lives?
4. How will I feel when I accomplish my goal?
5. What steps do I need to take to make it happen?
6. What is stopping me from achieving this goal?
Why is this important to me?
If I have no debt then I am saving money instead of blowing it all on high interest credit cards. I won't have to worry about debt hanging over my head and I will have more resources to do the things that make me feel financially safe and secure- and happy!
Who is affected by my decision?
My family is affected by the financial distress I am under that is caused by this debt. I devote more time to worrying and less time enjoying my family.
How does my decision improve their lives?
When I am debt free, my family will be more secure financially and therefore more prepared for unforeseen occurrences.
How will I feel when I accomplish my goal?
I will feel relieved and proud of my accomplishments.
What steps do I need to take in order to make it happen?
First, I need to assemble all my debt, list the balances, due dates, interest rates, etc. Then I need to contact each company and see if they will decrease my rates. If not, I will look to transfer to a better deal. Meanwhile, I will look at my spending and cut back on my non-fixed costs. The money I save will be used to accelerate my payments, starting with the highest rate card first.
What is stopping me from achieving this goal?
Only my beliefs are stopping me. I must believe that it is doable and not impossible. I must be disciplined, patient and know that I am doing this for my peace of mind and the safety of my family.
After three years of focus, discipline and patience, my clients came in with zero balances on their credit card statements. They felt powerful, successful and hopeful. The road was bumpy; there were challenges and slips, including periods of unemployment and unanticipated financial needs. There was deprivation of some of the ‘little comforts and frills' that had become a part of their lives. Throughout their experience, they kept coming back to their visualization and their reasons for wanting to get themselves out of debt. They had to admit that even the hardest moments of attaining this goal were easier than the state of being hopelessly mired in debt. They didn't have an EZ Pass, but they kept on going. And at the end of the road, they did find success.
