144 | Understanding Debt: How Awareness Breaks the Debt Cycle

As we approach the end of the year, it is time to start thinking about your relationship with debt. If you've paid off debt only to fall back into it, feel ashamed about your financial situation, or are ready to break free from the debt cycle, this episode is for you. Today, I'm focusing on building personal debt awareness. This episode isn't about creating a debt payoff plan or managing your finances; it's about uncovering your unique debt story to understand how and why you're in debt. I'll guide you through a three-step framework that begins by challenging common beliefs about debt and exposing ways we justify accumulating debt. Then, I'll provide a series of questions to help you explore your feelings about debt and ultimately make peace with it. Your financial journey is about understanding your relationship with money. So take a moment to reflect on your debt, embrace your story, and learn how debt awareness leads to a healthier financial future. Learn how to build personal debt awareness by following these steps… [01:15] Justifying debt: common beliefs that keep you in a debt cycle [03:12] Understanding your debt story [06:30] Recognizing how you feel when your debt increases [08:06] Making peace with your step Tune into this episode of Money Files to understand your relationship with debt and how awareness can help get you out of a debt cycle.  Get full show notes and the episode transcript: https://wealthovernow.com/understanding-debt-how-awareness-breaks-the-debt-cycle/ Links mentioned in this episode… Set up a call | Financial Coach Washington, DC | Wealth Over Now Download my FREE spending plan