Note: This is a post from Courtney Baker, chief seller and long-time running wo-man of MvD.
It goes without saying that breaking up on Valentine’s Day is a bold move- it is the day to celebrate relationships, not destroy them. Luckily, we’re not afraid of being bold. We’re going to break up with debt, and you should too.
It’s a little leech sucking you dry one monthly minimum at a time.
It was great in the beginning. You were completely committed to the relationship. You were strapped for cash and Debt saved the day. It provided with you freedom, breathing room, and comfort of 0% APR for the ENTIRE year! What could be better?
Then, the year ended, and Debt started getting a little demanding. So demanding, that now you feel trapped, even more trapped than you felt before you started using Debt.
I hear the excuses coming- it’s not the right time, not the right place, next month, etc.
You can’t afford to wait.
Why You Should Break Up With Debt
1. You’ve Been Duped
You thought debt was saving your butt- chunks of cash in a pinch and low interest rates. It was like your best friend loaning you money. You were duped.
Debt is a “strings-attached” kind of relationship. In fact, it’s more like “cable-cords anchored”. Strings are easier to cut loose. Debt gives you one apple and expects three in return.
Your situation is worse now than ever. You are tied and bound.
2. You’re More Sad Than Happy
Buying news things makes you happy…temporarily. It’s a lot like puppy love- intense at the beginning, but it teeters off quickly.
Monthly payments set in and so does the self-loathing. Why did I do that? What’s wrong with me? Sadness and guilt are far more intense than the joy you ever felt buying the crap.
You deserve the deeper, longer lasting love that comes with planning your purchases and using money you actually have.
3. You’re Doing All The Work
Debt is like your ‘sugar daddy’ or ‘baby mama’. You had some short-lived fun together, but now you are left to clean up the mess, alone.
You have to give up future fun to pay for old fun. You have you work longer hours and side jobs to keep up with the payments. And on top of all that, you are giving a monthly stipend to Debt just as a ‘thank you’ for letting me use it.
4. You Have to Read the Fine Print
Did you know that we spend 12% more when buying with a card? You knew there would be interest. Bet you didn’t realize you’d be forking out an additional 12%. That’s the unwritten fine print.
The written fine print outlines that you can be charged absurd late fees and be subject prematurely to APR increases if you miss a due date. Oh, want to pay by phone? Sure that’ll cost $25!
What a great relationship you have here! So warm…and friendly.
5. Your Debt Scares Away Potential Mates
I’ve yet to see ‘in debt’ listed as a top quality mates find attractive. NPR published an article that young adults are avoiding relationships with partners in debt.
College students are graduating with increasing amounts of debt and entering flooded employment markets. You have to admit, it can make you really think about your future with someone when they bring an $80,000 debt into the relationship!
6. You Wouldn’t Want Your Parents To Know
Enough said. It’s your biggest secret.
7. Your Friends Are Rallying Against Your Relationship
Your friends are starting to speak up. That’s not an easy thing for them to do. Take a minute to listen to them. Perhaps, they have a better view of what you are too blinded by love to see.
8. You Feel Like It’s Time to Move On
There’s a lot to be said about a gut feeling.
You’ve realized there’s more to your life than this. You are bigger, worth more. You feel a sense of disgust setting in for the mess you’ve made, but don’t hate yourself. Hate Debt. Put a picture on the wall, throw darts at it- you are moving on from that old life.
According to Urban Dictionary, break-up money is
“the extra cash one comes into following the end of a relationship after cutting expenses like dinner dates, jewelry, and other spending for the ex-significant other.”
Imagine a life without debt. No more minimums. No more massive interest payments that aren’t even going toward the balance. Oh, the freedom you’d feel.
That’s a lot of break-up money.
You could even start tackling that bucket list of yours. Ski. Visit India. Learn to cook. Attend a workshop. Open a business. Retire comfortably.
Now that sounds like true love.
What’s on your bucket list? What would you do with the break-up money if you got rid of your abusive relationship with debt?
Comment and share!